The dollar stabilized after hitting a 15-year low versus the yen Wednesday morning in New York, as Japanese officials stepped up efforts to talk down their surging currency. The yen has become the world’s preferred safe haven currency of late, and has soared amid growing concerns about a global double-dip recession. Recent economic data from
The euro slumped to fresh monthly lows on Monday, even as a wave of merger activity generated optimism that stocks can push higher. However, recent economic data has raised fears that a double-dip recession is in the cards for the US and perhaps Europe, fueling interest in the perceived safety of the dollar and yen.
During New York morning trading on Thursday, the Swiss franc spiked up against major currencies. The franc climbed to new multi-month highs against the US dollar, fresh multi-week highs against the euro, pound and the yen. Extending previous session uptrend, the franc advanced further against the US dollar in New York morning deals today. At
The US dollar recovered from early losses against major opponents in New York mid-day trading on Wednesday. In the U.S., the first time claims for unemployment benefits showed another unexpected increase in the week ended August 14th, according to a report released by the Labor Department today. The report showed that initial jobless claims rose
The dollar barely budged versus other major currencies on Wednesday in the absence of first-tier economic data from the United States. While industry data hinted at continued weakness in the housing market, traders took to the sidelines wanting more clues about the general direction of the global economy. The Mortgage Bankers Association said refinancing activity
