Japanese Yen
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*Dollar on track to rise toward 100- yen mark. NEW YORK, April 5- The U.S. dollar weakened against most major currencies on Friday, dropping to a two-week low against the euro, as worse-than-expected jobs data raised concerns that the pace of recovery in the American labor market has slowed.
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The dollar rose against the euro, but fell against the yen Monday, as investors attempted to minimize exposure to risky assets amid lingering fears of a global credit crisis.
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The dollar fell against most major currencies Friday, despite strong U.S. economic data, as calmer credit markets sparked renewed interest in riskier overseas assets.
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A surge in investors' appetite for higher-yielding currencies and assets pushed the yen towards its biggest daily and weekly losses against several currencies for years on Thursday.
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The dollar extended losses against the euro on Wednesday after a news report about a bomb threat in upstate New York.
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The yen held gains against the U.S. dollar and euro on Wednesday as investors kept shedding risky positions after a slide in a U.S. stock index gave a reminder that confidence in the credit market has yet to be restored.
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The yen gained broadly Tuesday as jitters about global credit conditions led investors to shed risky assets funded by borrowing in the Japanese currency
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The dollar inched higher against the euro Monday after a new report said that U.S. economic growth was set to pick up slightly despite misgivings about the housing market.
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The dollar fell broadly Friday after the Federal Reserve slashed the interest rate it charges on loans to banks, and said economic growth could slow in light of tightening credit markets.
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Keep an eye on big commercial banks like Citi, JP Morgan and Bank of America: They have extensive retail banking operations and are far more diversified and better at laying off risk (often to foreign banks) than the investment banks
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The yen had its biggest one-day gain versus the dollar in almost nine years Thursday, as investors unwound risky trades financed with borrowed yen, on fears of a global funding crisis. The yen soared against all major currencies and hit its strongest level since November against the euro.
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The dollar rose against the euro, and the yen rallied on Wednesday after investors cut exposure to carry trades as losses in the U.S. subprime mortgage market widened.
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Joseph Stiglitz, Professor at Columbia University and 2001 Nobel Prize Winner explains how the central bank's stimulus program will improve the debt to GDP ratio if it successfully ends deflation.