TOKYO, March 4- The dollar held firm near an 11- year high versus a basket of major currencies on Wednesday, as investors awaited U.S. economic data and a European Central Bank meeting later this week for fresh clues on policy direction. On Tuesday it had touched a high of 95.570, its strongest level since September 2003. Against the yen, the dollar held steady at...» Read More
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.
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.
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.
The dollar rebounded from a fresh low on Monday after as traders pared back bets against the currency after the weekend's Group of Seven meeting yielded no call to action on the falling greenback.
The dollar hit a fresh record low against the euro and a basket of currencies on Friday, pressured by the growing view that a slowdown in the U.S. economy will force another cut in interest rates this month.
The dollar dropped to a record low against a basket of currencies and the euro Thursday, after Bank of America's third-quarter earnings results missed estimates, renewing concerns of a U.S. economic slowdown.
The dollar fell broadly Wednesday after a report showed housing starts dropped to their lowest level in 14 years in September, adding to concerns that the housing market may drag on the US economy.
The dollar rose against the euro and high-yielding currencies such as the New Zealand dollar Tuesday, as investors grew cautious of risky trades amid a sell-off in global equities and a surge in oil prices.
The yen hit its lowest levels in around two months against both the dollar and euro on Monday, as risk-seeking investors took advantage of cheap Japanese borrowing costs to fund purchases of high-return assets.