The euro held its ground versus the dollar Monday in New York, amid muted reaction to the sudden death of North Korean dictator Kim Jong-il. Kim died on Saturday morning while on a train journey outside the country’s capital, the North Korean state television reported today. Heavy selling pressure drove the euro to its lowest
The euro crept slightly higher versus the dollar on Friday, edging away from this week’s 11-month low amid a lull in the newsflow from debt-savaged Europe. The single currency was making gradual gains until the release of tame inflation figures from the United States. Markets were soothed after Italy’s new government won a crucial confidence
The dollar continued its assault on the euro Wednesday, rising to its highest since January amid concerns that Europe’s recent summit did little to alleviate its sovereign debt crisis. Ratings agency continue to warn on European government debt, and Italy’s borrowing costs set fresh highs despite sweeping austerity measures. While structural reforms are necessary in
The dollar leveled off Tuesday morning in New York, edging away from a 2-month peak versus the euro ahead of the latest interest rate announcement from the Federal Reserve. The beleaguered euro got a lift from a better-than-expected reading on German economic sentiment and falling yields on Spanish debt. However, the major ratings agencies continued
The dollar rallied versus most major currencies on Thursday, supported by its safe haven status after the European Central Bank said it will not be expanding its bond buying program. Earlier in the week, comments by ECB President Mario Draghi were thought to foreshadowed further asset purchases on the condition that political leaders agree to
