The dollar rallied against a basket of major currencies on Friday and was on track for its biggest weekly gain in more than a year as investors bet that more U.S. interest rate cuts would prevent a recession.Global stock markets also advanced, after Federal Reserve Chairman Ben Bernanke hinted late on Thursday that the central […]
The pound fell for the first month in three against the dollar as signs the economy is slowing prompted investors to add to bets on an interest-rate cut.The U.K. currency also had its biggest monthly drop in 3 1/2 years versus the yen as investors sold higher-yielding assets funded with cheap loans from Japan. Data […]
The yen and Swiss franc headed for their biggest weekly drops in more than two years versus the dollar as global stocks rallied and investors bought higher- yielding assets with funds borrowed in Japan and Switzerland.The dollar was poised for its largest weekly gain since August versus the euro after Federal Reserve Chairman Ben S. […]
The dollar rose broadly on Thursday as investors bet that the perceived likelihood of more U.S. interest rate cuts will help avoid a U.S. recession.Lower rates typically make dollar-denominated securities less attractive and reduce demand for the dollars to buy them. However, given concerns about problems with the U.S. housing market and credit markets, signs […]
The dollar rose Thursday against the euro on a stronger-than expected U.S. economic report and a decline in consumer confidence in France, one of Europe’s largest economies.The dollar also was bolstered by a report from the Commerce Department that the U.S. economy grew at a 4.9 percent pace from July through September. That was the […]
The euro, trading near a record high, is unlikely to replace the dollar as the world’s dominant reserve currency because the eurozone’s financial markets remain fragmented, Bank of America Corp. said.Europe’s single currency is used by 13 nations in the region though the U.K., the second biggest economy, has so far rejected it and other […]
The dollar rose against the euro and pound after Goldman Sachs Group Inc. said the U.S. currency’s decline is coming to an end.The dollar also gained after China Investment Corp., the $200 billion sovereign wealth fund, signaled it may invest in finance companies hurt by loan defaults. A report today showed U.S. economic growth surged […]
The euro fell by the most in two weeks against the dollar as a decline in German consumer confidence weakened the case for higher interest rates in the single-currency region.The euro dropped against 13 of the 16 most-active currencies after the GfK AG index slipped more than expected to the lowest since January 2006. The […]
The U.K. pound rose against the euro and the yen as a recovery in global stocks prompted investors to buy higher-yielding assets funded with loans from Japan.The pound also erased an earlier decline against the dollar. The yen dropped against 14 of the 16 most-active currencies as the gains in stocks prompted investors to resume […]
Federal Reserve Vice Chairman Donald Kohn, in remarks the markets viewed as signaling a possible December rate cut, said the central bank needs to be “nimble” in its monetary policy because economic uncertainty is unusually high.
In a speech to the Council on Foreign Relations in New York, Kohn said renewed financial market turbulence of recent […]
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