NEW YORK, July 29- The dollar dropped on Friday after data showed that the U.S. economy grew at a slower pace than expected in the second quarter, while the Japanese yen soared after the Bank of Japan's stimulus plans underwhelmed investors. U.S. gross domestic product increased at a 1.2 percent annual rate, the Commerce Department said. "There were some aspects of... » Read More
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.
The dollar fell broadly Thursday, nearing a three-week low against the euro, after the Federal Reserve held interest rates at 2 percent, dashing expectations of an imminent rate hike.
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The dollar fell to two-week lows versus the euro on Wednesday, as selling accelerated in the aftermath of the Federal Reserve's decision to hold key interest rates steady at 2.0 percent.
Nearly 1.4 billion shares and $20 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Here are the bets being made today...
The dollar extended losses against the euro on Tuesday, tumbling to a session low after data showed U.S. consumer confidence fell to a near 16-year trough.
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The euro fell after high energy costs soured German business sentiment and the euro zone's manufacturing and services sectors contracted last month, denting the case for higher euro zone interest rates.