In early European trading on Wednesday, the New Zealand dollar plummeted to multi-day lows against the currencies of Australia, Europe and Japan as European stocks declined on concern over the sluggish global economic recovery. The kiwi also showed modest weakness against the greenback. At present, Germany’s DAX is falling by 0.5%, France’s CAC 40 index
Wednesday in Asian trading, the Swiss franc plummeted against other major currencies. The franc slumped to near a 7-week low against the pound, 5-week low against the yen, 1-week low against the euro and a 2-day low against the dollar. The Swiss franc fell against the euro during Asian deals on Wednesday. The franc is
The bottom fell out on the dollar Monday after Federal Reserve Chairman Ben Bernanke suggested the economy is a long way from a full recovery, fueling speculation the central bank will ramp up quantitative easing. The dollar was already taking a beating against the sterling and loonie before Bernanke’s remarks to a southern leadership conference
The euro rocketed higher along with global stocks Monday morning, fueled by solid results from European banks and another round of encouraging economic data from across the Atlantic. Two months ago, Europe was in turmoil and and the US was looking relatively good. With Europe’s debt crisis easing and the US economy in paralysis, the
The Japanese yen declined across the board on Monday morning in New York as the better-than-expected US data on manufacturing and construction spending reduced the demand for lower-yielding yen. Manufacturing activity in July expanded at a slower pace than in the previous month, the Institute for Supply Management revealed in a report today, although the
