The dollar fought back from early losses versus the euro on Friday, as Germany and France argued over whether the European Central Bank should be the lender of last resort for their debt-ridden neighbors. In a speech in Frankfurt, German Chancellor Angela Merkel said the ECB should not intervene forcefully to end the sovereign debt
The dollar wavered on Thursday, unable to extend a monthly high set earlier this week despite mounting concerns that Europe’s sovereign debt crisis will derail the global economic recovery. A pair of encouraging U.S. economic reports gave the dollar little support, as traders continued to focus on European borrowing costs. An auction of Spanish 10-year
The dollar leveled off on Wednesday versus the euro, easing slightly from last night’s monthly high amid hopes that the global economy can find its footing in the fourth quarter. Despite some ominous signs from Europe, analysts say that encouraging economic news from the U.S. could give a lift to riskier assets. U.S. crude oil
The dollar rallied in early dealing versus the euro on Monday, and gradually extended its gains in mid-day trading, as Italy continued to a pay a heavy price to borrow. Italian 10-year yields were down to 6.64 percent, but borrowing costs for 5-year notes rose to euro-area record highs, even as new Prime Minister Mario
The dollar fell sharply versus the euro on Friday, paring nearly all of its weekly gains amid hopes that Italy and Greece have made steps to avert a sovereign crisis. Italian Senate passed austerity measures this morning, clearing the way for Prime Minister Silvio Berlusconi’s departure. Berlusconi is set to be replaced by former European
