The dollar continued to show a lack of direction versus the euro on Tuesday, where Silvio Berlusconi won a crucial vote on the country’s 2010 budget plan, but failed to secure simple majority in the Parliament. A report on last year’s budget was passed with 308 MPs voting in favor and 1 abstention on Tuesday.
The euro wobbled Monday morning in New York amid conflicting reports about whether Italian Prime Minister Silvio Berlusconi would resign under pressure from the bond markets. Early reports suggested that the embattled Italian leader was negotiating the terms of his resignation, but a Facebook post on his official page said he has no plans to
The dollar was generally stronger versus other majors on Friday, as traders expressed caution ahead of a crucial no-confidence vote that could re-make the Greek government. While reports have surfaced indicating that a deal has been reached to form a coalition that would accept the terms of Greece’s bailout, traders were too nervous to make
The dollar failed to rally versus the euro on Thursday, even after the European Central Bank unexpectedly cut interest rates. Later, Greece backed down from a referendum on the region’s sovereign debt bailout plan, fueling hopes that Europe can still avert a full-blown sovereign debt crisis. The ECB rate hike lifted stocks, raising appetite for
The dollar was steady on Wednesday, after the Federal Reserve held off on further easing measures for the sluggish economy. While Ben Bernanke and company resisted a third round of quantitative easing, the central bank signaled it is prepared to offer further accommodation if the recovery fizzles. The Fed acknowledged an encouraging rise in household
