LONDON, Dec 10- The euro hit a fresh five-year high on the yen and a six-week peak against the dollar on Tuesday as expectations for further near-term stimulus from the European Central Bank faded. Against the dollar, the euro was at $1.3755, up 0.1 percent and getting closer to a two-year high of $1.3833 set in late October.» Read More
The dollar slumped Friday, battered by heightened worries about the U.S. financial sector after a report said the U.S. government is considering taking over mortgage agencies Fannie Mae and Freddie Mac if their situation worsens.
Nearly 1.3 billion shares and $14 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Check out the bets being made today...
Nearly 1.4 billion shares and over $16 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Check out the bets being made today...
Oil prices jumped nearly $6 to above $141 a barrel Thursday amid threats to production in Nigeria and Brazil and as additional missile tests by Iran escalated tensions with the West.
The U.S. dollar fell against a basket of currencies on Thursday, weighed down by renewed credit worries after shares in major mortgage finance sources Fannie Mae and Freddie Mac tumbled on capital concerns.
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The dollar fell Wednesday as news that Iran test-fired nine missiles halted oil's steep drop and unsettled Wall Street stocks, with investors concerned about the impact of soaring energy prices on the fragile economy.
Oil prices regained ground and headed above $137, but still were below session highs, despite a larger-than-expected draw in crude inventories.
South Korea plans to allow state firms to borrow more abroad, the latest in a series of policy flip-flops in recent months that analysts say could undermine already weakening confidence among investors toward the country.
Oil tumbled to near $136 on Tuesday as the dollar gained and concern eased over an Atlantic hurricane.
The dollar rebounded broadly on Tuesday, lifted by comments from Federal Reserve Chairman Ben Bernanke, who said the central bank is willing to keep its emergency lending facility open beyond the end of the year for big Wall Street firms.
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South Korea's foreign exchange authorities followed up on morning dollar sales to lift the won, selling a further $500 million in the afternoon on Tuesday and bringing the day's intervention to as much as $2 billion, traders said.
The dollar fell against the euro and erased gains versus the yen Monday as U.S. stocks deepened losses on worries about the credit crisis and the health of the financial sector.
Oil dropped almost $4 a barrel on profit-taking and signals that Iran will be more flexible in negotiations over its nuclear program.
The almighty dollar is mighty no more. It has been declining steadily for six years against other major currencies, undercutting its role as the leading international banking currency. The long slide is fanning inflation at home and playing a major role in the run-up of oil and gasoline prices everywhere.
Oil dropped below $145 a barrel on Friday, but was still within sight of record highs reached in the previous session when traders bought into the market ahead of a holiday weekend in the United States.
The euro hit a one-week lows versus the dollar on Friday, deflated after the European Central Bank signalled it wasn't planning another rate rise and as U.S. jobs data did not deliver a big downside surprise.
For the short Independence week ending Friday, July 3, 2008, the U.S. Markets ended the week in bear market territory with the Dow and the NASDAQ off more than 20% from their market peak set in October, 2007.