LONDON, July 6- Foreign exchange markets reserved judgment on Greece's place in the euro and the overall solidity of the common currency project on Monday, prodding the euro less than half a percent lower after Greeks voted' No' to further austerity. The euro had sunk below $1.10 in initial trade in Asia after a vote that a number of major banks said made a' Grexit' the...» Read More
The euro has not risen to an uncomfortably high level and the dollar is still overvalued, particularly against Asian currencies, Michael Deppler, head of the IMF's European Department, told Reuters on Monday.
The dollar fell to one-and-a-half-year lows versus the yen Friday, as fears of wider credit-related losses at U.S. financial institutions had investors dumping risky assets and anticipating more Federal Reserve rate cuts.
Bank of England and European Central Bank both left rates unchanged which helped spark a modest rally in Europe and here. Mr. Trichet, head of the ECB, talked about inflation concerns but his inaction made him appear rather dovish.
The European Central Bank left rates unchanged as expected on Thursday, with analysts saying the doves in the governing council had the upper hand. The Bank of England also left the rates on hold, with analysts expecting it to ease monetary policy early next year.
This year's relentless U.S. dollar slide looked to be turning into a rout on Wednesday, one that could heap more pressure on already stressed world markets and require a verbal or active protest by the world's central banks.
The dollar dropped to record lows versus the euro Wednesday after comments by a Chinese official stoked fears the central bank of the world's fourth largest economy would reduce its holdings of U.S. assets.
European Central Bank policymakers have been relaxed about the euro's steep rise against the dollar -- in public at least -- but its move towards $1.50 is raising the prospect that it might intervene.
The European Central Bank should take into account a range of factors such as the strong euro and high oil prices when setting monetary policy, France's Secretary of State for Europe Jean-Pierre Jouyet said on Wednesday.
Several factors weighing on futures prior to the open: 1) GM posting its biggest quarterly loss ever; $39 billion amounts to $68.85 a share loss, a mind-boggling number considering the stock is $36. Down 5% pre-open. Declining to provide guidance is the key here. However, this news came out last night and is not the primary reason the market is down.
The dollar fell to all-time lows against the euro and a basket of major currencies Tuesday as investors feared the fallout from the credit turmoil was far from over and the Fed will have to cut interest rates some more.
Contrary to earlier reports, supermodel Gisele Bundchen has NOT asked to be paid in euros instead of dollars, her manager told CNBC.
The dollar edged up Monday against the euro in European trading, helped by better-than-expected growth in the U.S. services sector.
The dollar sank to record lows against the euro and a major currency basket on Friday, as persistent worries about unreported losses at financial firms overshadowed a strong U.S. payrolls report.
The yen rose broadly Thursday after brokerages downgraded two of the largest U.S. banks, knocking equities lower and sparking fears that fallout from the credit crisis may sap investor appetite for risk.
The dollar fell to a record low against the euro after the Federal Reserve cut its benchmark interest rate by a quarter-percentage point and said the pace of economic growth will slow this year.
A surge in euro zone inflation in October beat all expectations, data showed, raising the odds for a rise in European Central Bank interest rates despite weakening sentiment and sending the euro up against the dollar.
The dollar fell to a record low against the euro for the third consecutive session on Tuesday, a day ahead of the outcome of a Federal Reserve meeting at which an interest rate cut is expected.
The United States is strongly committed to a strong U.S. dollar and financial markets there are recovering from the subprime loan crisis even if the housing market has yet to touch bottom, U.S. Treasury Secretary Henry Paulson said on Tuesday.
The dollar sank to another record against the euro on Monday, trading at as much as $1.44 against the 13-nation currency for the first time, as markets anticipated a likely interest rate cut by the U.S. Federal Reserve this week.
The dollar slipped to record lows against the euro and a basket of currencies Friday as investors, faced with a run of weak U.S. economic data, anticipate a Federal Reserve interest rate cut next week.