The euro was weaker across the board, pressured by deepening worries that Greece could default on its debt and eventually exit the currency union.» Read More
The euro tumbled broadly Tuesday after dismal euro zone service sector data fedexpectations the European Central Bank also might have to cut interest rates to shore up growth.
Euro zone service sector growth slowed sharply in January from an already weak estimate and retail sales fell in the key Christmas period, according to data on Tuesday that stoked fears of a recession.
The dollar slipped against the euro and edged up against the yen Monday as investors waited to see how major central banks at policy meetings this week will respond to a potential global economic slowdown.
The dollar rose against the euro and sterling Friday after a report showed a gauge of U.S. manufacturing in January was higher than expected, helping the U.S. currency recover after soft labor market data earlier in the session.
The dollar edged higher against the euro Thursday, as dealers cut bets against the U.S. currency a day ahead of the U.S. jobs report for January that may shed light on how close the economy is to recession.
The dollar fell sharply against the euro on Wednesday after the Federal Reserve slashed benchmark interest rates by 50 basis points and said downside risks remain for growth.
The dollar edged up against the euro and yen Tuesday after a mixed bag of U.S. economic data led dealers to trim their bets against the currency ahead of Wednesday's policy decision by the Federal Reserve.
The dollar rose Friday as investors scaled back bets for another aggressive Federal Reserve interest rate cut next week and on optimism a $150 billion stimulus package would help support the U.S. economy.
The dollar fell against the euro on Thursday as strong German business confidence data andtough inflation comments by a European Central Bank policy-maker dashed hopes for a near-term interest rate cut in the euro zone.
Euro zone growth could come in below 2 percent this year, European Central Bank Governing Council member Klaus Liebscher was quoted as saying on Thursday, but the region is better off than the United States.
The yen rose across the board on Wednesday as falling European stocks encouraged investors to reduce exposure to risky assets and unwind carry trades despite the Federal Reserve's hefty interest rate cut.
The dollar tumbled against the euro Tuesday after the Federal Reserve unexpectedly slashed its benchmark overnight lending rate in an attempt to allay market fears of a U.S. recession.
The low-yielding yen rose broadly on Monday, hitting a 2-1/2 year peak versus the dollar and five-month highs against the euro as investors shunned risky trades amid a sell-off in global stocks.
The dollar gained against the euro and yen Friday as rising equity markets calmed investors, prompting a few to edge back into relatively risky carry trades.
The dollar dropped Thursday after Federal Reserve Chairman Ben Bernanke told a congressional committee that more interest rate cuts may be necessary and that the U.S. economic outlook has worsened.
The euro zone's trade surplus shrank more than expected in November amid a strong euro as imports grew faster than exports, the European Union's statistics office said on Thursday.
The euro plunged against the U.S. dollar after a European Central Bank official told Bloomberg News the central bank may revise down its euro zone growth forecasts for 2008.
The dollar Tuesday fell to its lowest against the yen since June 2005 and extended declines against the euro after U.S. retail sales data provided further evidence an economic slowdown was spreading to the consumer.
Important economic data will compete with Citigroup's much-anticipated earnings report ahead of Tuesday's opening bell. Retail sales data is being particularly watched to see if it is weak enough to prompt the Fed to cut rates even before its regular meeting at the end of the month.
The dollar dropped to a record low versus the Swiss franc and seven-week lows against the euro and yen on Monday as concern that weak U.S. corporate earnings will prompt more interest rate cuts weighed on the currency.