*OPEC decides against cutting output. Investors took aim at currencies of oil-rich countries as oil prices fell after the OPEC decision. The yen weakened as falling oil prices softened Japan's inflation outlook, fanning expectations of more policy easing by the Bank of Japan.» Read More
The dollar was little changed against the euro and down against the yen Monday with investors finding few reasons to change their view that more Federal Reserve interest rate cuts are imminent.
The euro set a fresh record high against the dollar early Friday, though the $1.50 level remained out of reach when the euro was knocked more than a cent off its peak by comments from a euro zone policymaker.
The dollar hit new record lows against the euro, the Swiss franc and a basket of currencies on Thursday on growing belief that the U.S. Federal Reserve will cut interest rates again next month.
French President Nicolas Sarkozy will in a forthcoming visit to China call for an "equitable and fair" relationship between four major currencies -- the dollar, euro, yen and yuan, a senior French official said on Thursday.
The dollar slid to a record low versus the euro after minutes of the Federal Reserve's October meeting failed to give a clear indication on the central bank's next move on rates.
The dollar fell against the yen but held steady versus the euro Monday as global stock losses and high oil prices stoked uncertainty about the health of the U.S. economy and left investors wary of risky trades.
The dollar slipped on Friday, but was still on track for its biggest weekly gain in a month, with dealers wary of adding much to extended bets against the greenback with so much uncertainty surrounding the credit market.
The dollar rose against the euro but slipped against the yen Thursday as fears about the credit crunch's impact and falling equity markets led investors to pare back on profitable but extended trades.
The dollar fell against the euro on Wednesday as continued worries that a struggling U.S. housing sector and lingering credit problems weighed on sentiment and left intact a long-term declining trend.
The dollar slipped against most currencies Tuesday, resuming a long-term decline after a brief respite on Monday as investors expected further signs of housing weakness and sluggish consumer spending that could hurt U.S. growth.
Strong earnings and a better forecast from Wal-Mart is giving a boost to stocks this morning after a mixed picture in overseas markets. The dollar is weaker this morning and gold is recovering some ground after yesterday's sell-off.. Asian stock markets were mixed, with Tokyo closing about a half a percent lower. European markets were moving lower.
The market is finishing at the lows, three of the last four days. A tough situation, since traders now get unnerved in the last hour, even if the trend is neutral going into the close (as it was today), or even if the trend is up (as it was on Friday, and stocks still fell apart in the last hour).
Reversing the trade is the key story today: 1) The "buy tech, sell financials" trade--which has been astonishingly successful since July--is showing signs of unwinding as traders nibble on financials.
Why is a dollar worth more today against the euro than it was last week? Does it have anything to do with the fundamentals of the US economy?
The dollar rose against the euro on Monday, as the European currency backed off all-time highs set last week.
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.
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.
A tumbling dollar and strong oil prices prompted investors and speculators to buy gold heavily.
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.
The dollar edged up Monday against the euro in European trading, helped by better-than-expected growth in the U.S. services sector.