The dollar plunged below 100 yen Thursday for the first time in more than a decade and hit a record low against the euro as worries deepened on Wall Street that the United States had entered a recession.
The dollar tumbled to a record low against the euro Wednesday as doubts grew about the long-term impact of recent Federal Reserve efforts to pump money into cash-starved credit markets.
The dollar rose sharply Tuesday after the Federal Reserve announced new measures to inject liquidity into the financial system, easing concern about a deepening credit crisis and a U.S. recession.
The U.S. dollar continues its downward slide against major currencies including the yen. The dollar hovered near an eight-year low against the yen Tuesday, as fresh signs of deterioration in credit markets hurt global shares and sparked unwinding of carry trades.
The yen has surged to an eight-year high against the U.S. dollar as the greenback takes a hit from expectations for aggressive Fed interest rate cuts to counter the economy's fall towards a recession. This week's Charting Asia takes a look at the dollar/yen trend.
The dollar tumbled against the yen Monday as fears of a U.S. recession hit stock prices but steadied versus the euro after Europe's top monetary official said he was worried about recent exchange rate moves.
The dollar rebounded from record lows triggered by a surprise contraction in U.S. payrolls for a second straight month as attention shifted to moves by the Federal Reserve to ease tight liquidity conditions.
By many measures, confidence in the dollar has never been lower, and some fear more Federal Reserve interest rate cuts will make matters worse by swelling inflation and undermining long-term U.S. economic health.
The dollar extended losses against the euro and the yen Thursday after U.S. pending home sales were unchanged in January, doing little to allay investor worries over the deteriorating U.S. economic outlook.
The European Central Bank's surplus fell to 286 million euros ($439 million) last year from 1.37 billion euros in 2006, because of the euro's strength, the bank said on Thursday.
The dollar hit a fresh record low against the euro and a basket of currencies Wednesday, on renewed concerns about the health of the U.S. economy.
The foreign exchange maneuver known as the carry trade looks set to continue unwinding, with bearish investors scared of risks. But buying opportunities might emerge from the trend, analysts told CNBC on Wednesday.
The dollar turned higher against the yen on Tuesday as U.S. stocks trimmed losses late in the afternoon on talk of a bail-out for bond insurer Ambac.
The dollar halted a sharp sell-off against the euro and a basket of major currencies on relief that U.S. manufacturing had not deteriorated as much as expected.
The dollar spiraled lower as worries about the US economy depressed the currency and raised thorny issues in Europe about how to cope with the growing gap.
The dollar dropped to record lows against the Swiss franc Thursday as U.S. stocks fell following comments from Federal Reserve Chairman Ben Bernanke suggesting the possibility of more U.S. bank failures.
The U.S. Dollar continues to lose ground against major currencies with the Dollar index multi-year lows, and the Euro hitting new highs against the dollar. Are there ways to profit from the weak dollar? CurrencyShares ETFs might provide a few options.
The dollar sank to a new low against the euro after the chairman of the Federal Reserve Bank said Wednesday that the U.S. would encounter more sluggish economic activity in the coming weeks and months.
The dollar fell to record lows against the euro and basket of currencies Tuesday on worries over the health of the U.S. economy and prospects of more Federal Reserve interest rate cuts.