The dollar was generally weaker versus other major currencies on Monday, following the release of disappointing news on the U.S. manufacturing sector. Markets remained focused on Europe, where French President Nicolas Sarkozy and German Chancellor Angela Merkel pledged to fight for a new euro zone treaty with greater fiscal unity among member states. In Italy,
The euro was steady versus the dollar Friday morning in New York, hitting a two-week high before leveling off after a relatively solid U.S. jobs report. German Chancellor Angela Merkel gave the single currency a boost overnight, telling the Bundestag that euro zone members are working toward setting up a fiscal union with rigorous budgetary
The dollar spiked higher versus the euro on Wednesday, blasting through resistance after a dismal German bond auction heightened fears that the European sovereign debt crisis has spiraled out of hand. German officials and the European Central Bank have downplayed radical solutions the the sovereign debt crisis, and bond traders have little faith in the
The dollar wobbled against the euro on Tuesday, unable to sustain a mid-morning rally despite mounting concerns that Europe’s sovereign debt crisis is reaching a critical phase. The International Monetary Fund introduced a new liquidity program that would provide “emergency assistance more effectively to the Fund’s global membership.” However, the modest changes hinted at no
The dollar tumbled versus the euro in late morning dealing Monday, after reports surfaced indicating that the International Monetary Fund may provide financial aid to Italy. Luc Everaert, the IMF’s European division, said the IMF cannot rule out targeted funds to help Italy avert a full-blown sovereign debt crisis, according to a Wall Street Journal
