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.
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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.
Nearly 1.4 billion shares and $20 billion traded Friday in CNBC's Million Dollar Portfolio Challenge. Here are the bets being made today...
For the week ending Friday, June 20, 2008, the markets dropped on disappointing earnings results from the financial sector, and a continued spike in crude oil prices added to investors' concerns over inflation. The Dow closed below 12000 on Friday for the first time since Mid-March.