The dollar jumped as top Treasury and Federal Reserve officials voiced concern about its recent slide, raising the chances that officials could step into the foreign exchange market to support the U.S. currency.
Treasury Secretary Henry Paulson declined to rule out intervening in currency markets to stabilize the dollar, but said strong economic fundamentals would "shine through."
Malaysian Prime Minister Abdullah Ahmad Badawi, trying to assuage public anger over a steep hike in fuel prices, said on Monday government ministers would take a 10 percent cut in allowances.
President Bush said Monday a strong dollar was in the interest of the United States and the global economy, and that energy prices were high.
Japanese bank lending in May rose at its fastest annual pace in more than a year, as firms borrowed more to cover rising energy and material costs, but economists said the rise did not signal a stronger economy.
Gas prices have been above $4 in some areas for a while now but for the first time, the national average hit $4 a gallon.
Fasten your seatbelt, it could be a wild ride on Wall Street again this week as investors lick their wounds from Friday's market mayhem and brace for a key inflation report.
In Friday’s Web Extra the traders reveal how they’re playing oil, Apple and inflation data in the week ahead.
The dollar dropped across the board Friday, after data showed the U.S. economy lost jobs for a fifth straight month and the unemployment rate shot up to its highest in more than 3-1/2 years.
The U.S. economy likely shed jobs for the fifth straight month in May as flagging consumer confidence and the worst housing bust in generations discouraged hiring.
The euro rebounded from three-week lows against the dollar Thursday after European Central Bank President Jean-Claude Trichet said euro-zone interest rates could rise as early as next month.
European stocks ended lower on Thursday, falling for a second day in a row after ECB President Jean-Claude Trichet left the door open to an interest rate hike in July.
Fed intervention to calm financial market panic runs a risk of encouraging more reckless behavior and may make matters worse in the future, a top Fed policy-maker said
The number of laid-off workers filing claims for unemployment benefits showed an unexpected improvement last week although a key indicator of unemployment hit a four-year high.
A cut, given inflation rates, would simply make it more likely that we would enter recession at some point. If prices keep rising significantly, then the fiscal and monetary response will have to be more drastic somewhere down the road.
The United States will not experience a protracted period of economic weakness like Japan did in the 1990s, but the U.S. financial system is hurt by a lack of clear information about banks, Atlanta Federal Reserve Bank President Dennis Lockhart said Wednesday.
The recent downturn in the UK economy is likely keeping Bank of England hawks at bay, according to former Monetary Policy Committee member Charles Goodhart, CBE.
This is a timeline of the European Central Bank's rate decisions from 2007 to date.
The European Central Bank's 10th anniversary may have been marred by high inflation, but the euro's show of strength over the past nine months has been impressive.
Australia's trade deficit shrank by far more than expected to its smallest in 14 months in April fuelling speculation that surging prices for coal and iron ore exports could make deficits a thing of the past.