The dollar started trade pretty much where it closed in New York after Janet Yellen assured investors rates rises will occur at a gradual pace.» Read More
The dollar rose against the euro, and the yen rallied on Wednesday after investors cut exposure to carry trades as losses in the U.S. subprime mortgage market widened.
The Philippine peso and Singapore dollar led the losses in Asia on Wednesday as investors extended their aggressive sales of risky assets on fears U.S. credit market woes were spreading overseas.
The euro touched a six-week low against a broadly firmer dollar Tuesday as investors shunned the single currency on renewed concerns European banks may face losses related to the U.S. subprime mortgage market.
The European Central Bank lent banks 73.5 billion in extra funds on Tuesday, topping up their coffers for one week to help ease tensions in the euro-zone credit markets.
The euro fell Monday, after the European Central Bank injected cash into the banking system for a third straight day, reminding investors that Europe was not immune from credit problems originating in the United States.
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.