The euro remained strong against the dollar on Monday, touching a fresh 4-month peak before leveling off in mid-morning action. Traders continued to bet the European Central Bank will respond to inflationary pressures by starting a cycle of tightening measures in April. At the same time, the Federal Reserve in the U.S. is seen sticking
The dollar rebounded against the yen after an historic invention aimed at halting the Japanese currency’s dramatic rise. However, the dollar was hammered versus the euro and sterling amid expectations that European policy makers are preparing to hike interest rates in April. The Group of Seven nations including the U.S. intervened in the currency markets
The euro wobbled on Wednesday after Moody’s downgraded Portugal’s debt rating by two levels, highlighting concerns that European officials will not be able to prevent a wider sovereign debt crisis. Moody’s cited implementation risks for Portugal’s ambitious fiscal consolidation targets. Debt-ridden Portugal, Greece, and Ireland are in a difficult position — failure to produce sweeping
The euro declined against the currencies of U.S., Japan and Switzerland in European deals on Tuesday on increasing worries over quake-hit nuclear power plants in Japan. Asian and European stocks declined today on news of another explosion at Fukushima Daichi nuclear plant in Japan, where the explosion was at it no.4 reactor, following radiation leaks
Tuesday in early European deals, the pound dropped against other major currencies amid increasing concerns of nuclear disaster in Japan. Risk aversion increased after news of another explosion at Fukushima Daichi nuclear plant in Japan, where the explosion was at it no.4 reactor, following radiation leaks from nuclear reactor no.2, and comments from Japanese Prime
