The dollar was firm on Monday, approaching its highest in almost two months versus a basket of major rivals amid rising confidence that lawmakers will raise the U.S. debt ceiling. Ratings agencies have warned that the nation’s credit rating could drop unless a deal is reached by August 2. Meanwhile, European officials continue to haggle
The dollar failed to rally versus other majors on Friday, after Standard & Poor’s placed the “AAA” long-term and “A-1” short-term sovereign credit ratings on the U.S. on “CreditWatch” with negative implications. The agency said there is a 50/50 chance that it could lower the long term rating within the next 90 days due to
The New Zealand dollar traded higher further against major currencies after the releasing of NZ Q1 Gross Domestic Product or GDP report in early Asian trading on Thursday. The economy of New Zealand expanded in the first quarter of 2011 by a better-than-expected 0.8 percent, according to data published by Statistics NZ. For the full
The dollar tailed off versus most majors on Tuesday, as traders bet that recent gains were overdone given the fundamental weakness of the U.S. economy. While Europe’s sovereign debt crisis threatens to spiral out of hand, the dismal American economy will keep interest rates near zero for an “extended period,” limiting the upside for the
The Japanese yen and Swiss franc strengthened against their major rivals in early New York trading on Friday as traders seek safe-haven currencies after the disappointing jobs report showed that the U.S. economic recovery may be losing steam. According to the report released by the Labor Department, the U.S. economy added an anemic 18,000 jobs
