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World () - The euro strengthened toward a 16- month high versus the dollar after a report showed French business confidence was at a three-year high and economists said data today will show Italian retail sales rebounded.
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Euro Near 16-Month High Before French, Italian Economic Reports
U.K. Pound Extends Gaini Against Dollar as Retail Sales Unexpectedly Rise
London () - The pound extended gains versus the dollar as U.K. retail sales unexpectedly increased and Britain’s budget deficit came in below economist estimates.
Euro Falls on Greek Debt Concerns; Oil Snaps Three-Day Gain
() - The euro fell for a second day, stocks retreated, and oil snapped a three-day gain on concern the European sovereign debt crisis is worsening amid increased efforts to cool inflation globally. The New Zealand dollar weakened the most in four weeks against its U.S. counterpart.
Dollar trims gains after unexpected drop in March ISM
USA () – The U.S. dollar trimmed gains against some of its major counterparts on Tuesday, following a report showing that services sector growth in the U.S. declined unexpectedly last month. During U.S. morning trade, the greenback was higher against the euro, with EUR/USD shedding 0.17% to hit 1.4195.
Yen Gains Versus Dollar on Speculation Japanese Companies Bought Currency
The yen rose, snapping a five-day drop versus the dollar, on speculation Japanese exporters took advantage of its slide to a two-week low to buy the currency.
The euro advanced for a third day against the dollar before a German report that may show the nation’s labor market is improving. Australia’s dollar touched a record after retail sales grew more than estimated, outweighing an unexpected drop in building approvals. South Korea’s won rose as signs the U.S. recovery is gaining momentum brightened the outlook for exports.
China economist blasts dollar dominance on eve of G20
BEIJING (Reuters) - Dollar dominance is sowing the seeds of financial turmoil, and the solution is to promote new reserve currencies, a Chinese government economist said in a paper published on the eve of a G20 meeting about how to reform the global monetary system.
Although not an official policy statement, the paper by Xu Hongcai, a department deputy director at the China Center for International Economic Exchanges, offered a window onto the domestic pressures bearing on Beijing to move away from a dollar-centric global economy.
Japan’s in crisis: Why is the yen strong?
A spiraling crisis caused by the earthquake, tsunami and nuclear drama has turned into a financial crisis for the world’s third largest economy.
In a few short hours, the yen smashed through the 80 yen-to-the-dollar barrier, peaking at 76.25 yen. That was the highest level the currency has hit since World War II.
Dollar rebounds vs yen as BOJ acts after quake
The dollar rebounded from near-record lows against the yen on Monday, boosted by hedge fund buying as the Bank of Japan's huge infusion into money markets helped ease nervousness triggered by the massive earthquake and tsunami in northeast Japan.
The plunge in the Nikkei share average .N225 also prompted a sell-off in currencies that thrive when there is increased risk appetite, such as the Australian and New Zealand dollars.
Euro slips on debt worries and focus moves to Fed
The euro slipped against the dollar for a second day on Tuesday as investors considered what higher euro-zone interest rates will mean for peripheral euro nations already struggling with fiscal problems.
The euro had climbed above $1.40 in the days after hawkish comments from European Central Bank President Jean-Claude Trichet after a policy meeting last Thursday.
Euro Rally Masking Political Discord as EU Leaders Battle Debt
The euro’s two-month rally against the dollar is running into renewed rifts over Europe’s sovereign debt crisis just as optimism about the U.S. economy increases.
Bolstered by the prospect of higher European Central Bank interest rates as soon as next month, the euro has appreciated almost 9 percent against the dollar from this year’s low. Bets by futures traders on more strength are at levels that indicated reversals in the past. The euro has gained about half as much versus a group of nine developed-nation peers including the pound, franc and Swedish krona, Bloomberg Correlated-Weighted Currency Indexes show.
Euro nears key resistance
The euro hovered near a four-month high and a key resistance area against the dollar on Thursday, supported by expectations that the European Central Bank is set to pave the way for rate rises later in the year.
Investors have pushed the euro up about 3 percent from a low hit on February 14 on the view that ECB chief Jean-Claude Trichet, who speaks at 1330 after the bank ends a policy-setting meeting, will sharpen his anti-inflation rhetoric as oil prices continue to soar.
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