The euro inched higher, getting some respite as feverish speculation of an imminent round of easing by the European Central Bank cooled.» Read More
In the past few years, central banks around the world have pumped trillions of dollars into the financial system, partly motivated by the desire to keep their currencies weak in relation to others.
The euro gained for a second straight session against the dollar on Monday, benefiting from technical factors as well as expectations that the European Central Bank will refrain from cutting interest rates.
The dollar climbed to a nearly 2 1/2-year peak against the yen Friday after minutes from the Fed's meeting the previous day showed growing concern about further stimulus for the economy.
The dollar climbed to a three-week high against a basket of currencies as concerns about budget wrangling in Washington drove investors to the U.S. currency.
The dollar suffered against higher-yielding currencies after U.S. lawmakers approved a last-minute deal to avert huge tax rises and spending cuts, spurring demand for riskier investments.
The U.S. dollar edged up to a two-week high against major currencies Friday as investors waited to see if U.S. politicians can strike a last-minute budget deal.
As central banks in both the U.S. and Japan look set to continue aggressive monetary easing policies in 2013, Dan Harden, senior commercial dealer at Global Reach Partners has told CNBC traders should short both countries' currencies and look for high yields from the Australian and New Zealand dollar.
The yen fell to its lowest against the dollar in more than two years on Thursday, on expectations Tokyo will push for aggressive monetary stimulus.
South Africa's currency may have taken a battering in recent months, making it one of the worst performing major currencies this year, but analysts have told CNBC that the rand (ZAR) could be ready for a turnaround in 2013.
The euro rose against the dollar for a second straight day Tuesday, as surprisingly strong German economic sentiment and optimism about the US spurred broad-based risk-taking.
The euro fell from a seven-week high Wednesday after a disappointing Spanish bond auction and weak euro zone economic data.
The euro rallied to a near seven-week high against the dollar Tuesday after Greece announced better-than-expected terms for its debt buyback.
The euro hit a six-week high against the dollar on Monday, with some investors trimming bets against the single currency on signs Germany may be open to a Greek debt write-down.
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