The dollar came under pressure Friday afternoon as the euro recovered and the yen whipsawed in reaction to a major earthquake in Japan overnight. Hopes that the European Union could work out a plan to end the region’s sovereign debt crises prompted some late buying of the euro. The dollar touched a 10-day high of
The euro was generally weaker on Thursday after a ratings downgrade on Spanish debt intensified concerns that officials will be able to balance inflationary pressures with the need to prop up badly damaged economies on Europe’s periphery. The region’s simmering debt problems have bubbled back up to the surface this week. Moody’s downgraded Greece a
The Mexican peso traded higher against the US dollar after the release of Mexican traded balance and CPI reports during New York morning trading on Wednesday. The latest data from the statistical office INEGI showed today, Mexico’s trade balance moved to surplus in January and amounted to US$69 million. This was bigger than the US$63
The dollar was stable on Tuesday, paring a modest portion of its recent losses as U.S. crude prices declined on talk of OPEC raising supplies. The interest rate gap between the U.S. and E.U. may remain at its current level if commodity prices cool off, enabling the European Central Bank to hold off on raising
The dollar remained weak versus other major currencies on Monday, extending its multi-month lows against the euro and sterling as the price of U.S. crude soared above $106 a barrel. With the Federal Reserve in the difficult position of trying to preserve the recovery while dealing with inflationary pressures, the dollar has been in retreat
