The dollar is no longer the currency you love to hate. Now, it’s the currency you can’t live without.Last week’s credit crunch has set off a worldwide rush for dollars as banks and fund managers scramble to pay back loans used to buy risky mortgage securities. They are competing with firms such as AXA Investment […]
The yen rose to a four-month high against the euro as investors trimmed riskier assets funded by loans in Japan amid concern U.S. subprime mortgage losses are spreading to global credit markets.The Japanese yen gained against all 16 most-actively traded currencies as traders exited the so-called carry trade. U.S. stocks dropped and Treasuries rose as […]
The pound fell to the lowest in a month against the dollar on speculation so-called carry trades will continue to unwind on credit-market turmoil, and before a report that’s forecast to show inflation slowed in the U.K.The pound also dropped to near a four-month low versus the yen as UBS AG said its risk index […]
The yen rose against the euro and the dollar on speculation investors are reducing riskier assets funded by loans in Japan amid concern losses related to U.S. subprime mortgage defaults are spreading.Asian equities followed U.S. stocks lower after the bankruptcy of U.S. subprime lender Aegis Mortgage Corp. and Canadian financial-services company Coventree Inc.’s failure to […]
Growing worries about a world-wide credit crunch are fueling speculation that the Federal Reserve may be forced to abandon its anti-inflation stance and cut interest rates.
Traders already are betting that the Fed, along with other central banks around the world, will have to start easing credit sooner than later. That’s particuarly true if the […]
The yen is poised to rise for a fifth straight week versus the dollar, its longest winning streak since December 2004, as the U.S. subprime mortgage crisis pushed investors to trim riskier assets funded by loans in Japan.The Japanese currency touched the highest in almost four months against the euro today as traders exited the […]
The yen surged Thursday as investors bailed out of risky trades financed with the Japanese currency after one of Europe’s biggest banks froze funds with links to the troubled U.S. subprime mortgage market.
The euro tumbled as much as 2 percent against the yen and 1 percent against the dollar after France’s largest bank, BNP […]
Dollar Tree Stores Inc.on Thursday reported fiscal second-quarter sales that rose 10 percent but were below Wall Street expectations, and the discount store chain’s shares fell almost 5 percent.Dollar Tree said total sales for its second quarter rose to $971.2 million from $883.6 million a year ago. Analysts, on average, were expecting sales of $985.82 […]
The yen rose the most since March versus the euro after BNP Paribas SA, France’s biggest bank, froze three investment funds, reigniting concern the U.S. subprime mortgage crisis is spreading.The yen gained against all 16 most-active currencies as the risk of owning corporate bonds rose and global stocks fell, prompting traders to repay yen loans […]
The yen fell across the board on Wednesday after a Federal Reserve statement cooled expectations for a near-term U.S. interest rate cut and boosted stocks and other riskier assets.The dollar at the same time declined against other major currencies because the Fed’s statement Tuesday gave no indication of any near-term rate action, contrasting with central […]
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