The dollar dropped to a new record low against the yen and hit its lowest in more than two months versus the sterling amid growing concerns that U.S. will suffer a double-dip recession. Analysts and monetary policy makers have downwardly adjusted their U.S. growth forecasts, and with global stock reaching bear market territory, safe havens
The dollar gained on the euro Thursday, as traders flocked to safe havens amid mounting concern that the U.S. and European economies are heading for a double-dip recession. Global stocks were hammered following a report saying the Federal Reserve Bank of New York is intensifying its scrutiny of the U.S arms of many European banks,
Reversing previous session’s uptrend, the Japanese yen edged lower against its major rivals on Tuesday morning in New York as the credit rating agency Fitch’s reaffirmation of the U.S. debt’s AAA rating with a stable outlook boosted traders’ risk sentiments, prompting them to reduce positions in lower-yielding currencies. The better-than expected U.S. industrial production report
The Indian rupee erased morning session’s gains against the US dollar in the afternoon domestic trading on Tuesday, tracking weak equities as the Indian market reversed its early gains and fell for a third day. The benchmark BSE Sensex reversed its early gains and ended down 109 points or 0.65 percent at 16,731 and the
The euro rose sharply Monday morning in New York, bolstered by increased appetite for risk amid as global stocks continued to rebound. Gains were most pronounced against the dollar, which was stung by a report showing manufacturing activity contracted in the New York region in August for the third straight month. The Empire State survey
