If so, and all else being equal, downward pressure on the euro may mount at a time when the European Central Bank, struggling to avoid a third recession since 2008, will find this quite useful. One of the big stories of the past 15 years has been the huge growth of global central bank forex reserves, particularly in China, which went from having very little at the end of...» Read More
The Federal Reserve may be politically hampered in requesting a currency swap with the European Central Bank even if such a move could help relieve a squeeze in money markets, said analysts at Wrightson ICAP in a note to clients on Monday.
The yen drifted lower against the dollar and euro in volatile trading after the Federal Reserve injected cash into the banking system for a third time on Friday, underpinning U.S. stocks and soothing nervous financial markets.
Inflation in the 13 nations that use the euro fell to 1.8 % in July, the EU statistics agency said Tuesday, as business confidence weakened from a near-record high.
The dollar dropped to a 3-month low Thursday, as investors spooked by growing problems in credit markets fled risky assets financed by borrowing in the low-yielding Japanese currency.
The dollar jumped broadly Wednesday in a technical rebound from record lows against the euro, shrugging off fresh signs of deterioration in the U.S. housing sector.
The dollar fell to a 15-year low against a basket of major currencies and a record low against the euro Tuesday, hurt by the potential for credit woes and housing market weakness to weigh on the U.S. economy.
The dollar edged higher against the euro Monday, recovering from a record low, as dealers awaited economic data later in the week to see if U.S. credit market turmoil has spread to other sectors.
The dollar fell to a record low against the euro Friday and was on track for its sixth straight weekly decline, weighed down by fears that losses in risky mortgage debt would hurt consumers and slow U.S. growth.
The dollar traded near record lows versus the euro Thursday over renewed concern about the health of the U.S. housing market and as investors pondered the Federal Reserve's next interest rate move.
The dollar slipped Wednesday after Federal Reserve Chairman Ben Bernanke said housing sector woes would likely get worse, touching the nerves of dealers still reeling from the subprime crisis.
Euro zone trade remained in surplus in May and the April surplus was revised up, data showed on Wednesday, as exports continued to grow twice as fast as imports despite a strong euro.
The dollar rose versus the yen for the first time in three sessions after a government report showed foreign investors bought a record amount of U.S. securities in May.
CNBC's Trillion Dollar Survey finds expectations among top money managers that the stock market will continue to rally this year, the next interest rate move by the Federal Reserve will be a rate cut and that Democrats will capture the White House in 2008.
The euro zone's external trade balance swung to a surplus in March from a deficit in February, showing exports were likely to have contributed to economic growth in the first quarter despite the strength of the euro.
Euro zone inflation in April came in higher than initially estimated but still within the European Central Bank's target, data showed, pointing to subdued price-growth pressures despite robust economic expansion.
Tuesday after the bell, I reported Disney earnings. I started my report by saying the company "hit it out of the park" on earnings, beating the street by six cents. I then said revenues missed a bit, while still growing.
The European Central Bank's vigilance will ensure future price stability and a stable euro, ECB Governing Council member Klaus Liebscher wrote in an Austrian newspaper on Wednesday.