Euro ahead on Greece hopes. NEW YORK, May 29- The dollar was mixed on Friday with month-end selling after a recent rally, as traders saw little in weak first-quarter U.S. gross domestic product data to discourage bets the Federal Reserve will start raising interest rates in 2015.. "Underlying sentiment remains positive but the dollar is seeing some profit taking...» Read More
The dollar steadied versus the euro and yen on Monday at the start of a busy week for U.S. data which should shed light on the extent to which the credit markets turmoil is taking a toll on growth.
The safe-haven flow that has stabilized the dollar recently should persist next week as investors remain wary of risky assets, extending August's pattern of credit market turmoil feeding global demand for U.S. Treasuries.
The dollar slipped against the yen Friday after President Bush and the head of the Federal Reserve both said they would not rescue speculators ailing from deteriorating lending conditions that could worsen.
Stocks are winding up for a higher open as traders focus on the Fed Chairman Ben Bernanke's Jackson Hole address and President Bush's expected subprime rescue plan for defaulting homeowners. Bernanke's 10 a.m. speech has been the buzz of global markets for more than a week and it is being watched carefully for any clues on how the Fed might react...
The yen rose modestly Thursday, recovering from the previous day's sharp decline, as investors continued a longer-term trend of reducing risky bets in response to troubled credit markets.
The yen gained on Tuesday as investors, fearing tougher credit conditions will crimp global economic growth, bought the lower-yielding Japanese currency and sold riskier assets.
The dollar rose against the euro, but fell against the yen Monday, as investors attempted to minimize exposure to risky assets amid lingering fears of a global credit crisis.
The dollar fell against most major currencies Friday, despite strong U.S. economic data, as calmer credit markets sparked renewed interest in riskier overseas assets.
Euro zone private sector growth cooled in August as factory order growth hit its weakest since late 2005 and a credit squeeze in financial markets bruised service sector confidence, key data showed on Friday.
Global financial turmoil prompted the Bank of Japan to hold rates on Thursday and warn that the tremors would take time to settle, and the European Central Bank was inundated with demand at a new money market tender.
A surge in investors' appetite for higher-yielding currencies and assets pushed the yen towards its biggest daily and weekly losses against several currencies for years on Thursday.
The dollar extended losses against the euro on Wednesday after a news report about a bomb threat in upstate New York.
The yen held gains against the U.S. dollar and euro on Wednesday as investors kept shedding risky positions after a slide in a U.S. stock index gave a reminder that confidence in the credit market has yet to be restored.
The yen gained broadly Tuesday as jitters about global credit conditions led investors to shed risky assets funded by borrowing in the Japanese currency
The dollar inched higher against the euro Monday after a new report said that U.S. economic growth was set to pick up slightly despite misgivings about the housing market.
The dollar fell broadly Friday after the Federal Reserve slashed the interest rate it charges on loans to banks, and said economic growth could slow in light of tightening credit markets.
The yen had its biggest one-day gain versus the dollar in almost nine years Thursday, as investors unwound risky trades financed with borrowed yen, on fears of a global funding crisis. The yen soared against all major currencies and hit its strongest level since November against the euro.
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.