NEW YORK, July 29- The U.S. dollar hit fresh eight-month highs against the euro on Tuesday and advanced against the yen and Swiss franc on expectations for positive U.S. economic data and a potentially more hawkish tone from the Federal Reserve.» Read More
The dollar rebounded broadly on Tuesday, lifted by comments from Federal Reserve Chairman Ben Bernanke, who said the central bank is willing to keep its emergency lending facility open beyond the end of the year for big Wall Street firms.
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Nearly 1.4 billion shares and $16.9 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Check out the bets being made today...
South Korea's foreign exchange authorities followed up on morning dollar sales to lift the won, selling a further $500 million in the afternoon on Tuesday and bringing the day's intervention to as much as $2 billion, traders said.
The dollar fell against the euro and erased gains versus the yen Monday as U.S. stocks deepened losses on worries about the credit crisis and the health of the financial sector.
The euro hit a one-week lows versus the dollar on Friday, deflated after the European Central Bank signalled it wasn't planning another rate rise and as U.S. jobs data did not deliver a big downside surprise.
For the short Independence week ending Friday, July 3, 2008, the U.S. Markets ended the week in bear market territory with the Dow and the NASDAQ off more than 20% from their market peak set in October, 2007.
The dollar rallied on Thursday after U.S. payroll data suggested the job market was not as dire as many investors had feared while the European Central Bank president struck a less aggressive tone on prospects for rate hikes.
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The dollar fell against the euro Wednesday after a report showed the U.S. private sector shed more jobs than expected in June, which may diminish the likelihood of a rate increase by the Federal Reserve.
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Oil and the U.S. dollar -- they're the talk of the town of late. The declining value of the dollar has often been cited as a major factor behind surging oil prices, which topped $143 a barrel Tuesday.
The yen rose broadly Tuesday, benefiting from mounting risk aversion as heightened fears of further losses in the banking sector and global stocks prompted investors to sell dollars.
The U.S. dollar rebounded against the euro on Monday as traders bought back the U.S. currency as the second quarter ends, but losses in the euro may be limited ahead of an expected rate hike by the ECB this week.
U.S. Treasury Secretary Henry Paulson said on Monday he believes in a strong U.S. dollar and that U.S officials were working to resolve the country's economic problems, including regulatory mistakes that led to excesses in the mortgage and banking sectors.
For the week ending Friday, June 27, 2008, the U.S Markets tumbled on low consumer confidence levels, battered financial stocks, interest rates concerns, and new record prices for crude oil.
The dollar extended declines against the yen and fell versus the euro, after U.S. stocks accelerated their losses.