The dollar gave back a fraction of its recent gains on Monday, as another round of disappointing economic data raised concerns that the U.S. recovery is fizzling out. With the economy in the dumps and the Federal Reserve’s quantitative easing program slated to end in June, economists expect the central bank to once again promise
The dollar ended a winning week at its highest since early April versus the euro, after a closely watched survey showed U.S. consumer sentiment is on the rise. The preliminary University of Michigan-Thomson Reuters consumer sentiment index climbed to a reading of 72.4 from a reading of 69.8 in April. Still, consumers are not as
The Swiss franc edged higher against most of its major rivals in early European trading on Friday as China’s latest monetary tightening move on Thursday and lingering Greece debt concerns prompted traders to seek safe-haven currencies. In economic news, Switzerland’s Federal Statistical Office said its producer and import price rose 0.1 percent on year and
The dollar was stuck in neutral for a second day in a row on Tuesday, unable to extend its comeback bid against the euro. The dollar’s main rival was supported by news that Greece may work out a new financial aid package. According to the Wall Street Journal, Athens is lining up 60 billion euros
The euro extended its recent decline across the board on Monday morning in New York as traders dump euro after the credit rating agency Standard & Poor’s decided to slash Greece rating. Standard & Poor’s downgraded sovereign ratings of Greece citing rising rescheduling risk. The agency also retained the ratings on CreditWatch, with negative implications.
