The dollar rose sharply against the sterling on Tuesday, as news that the UK economy contracted in the fourth quarter shocked traders betting the Bank of England will soon hike interest rates. The disappointing data from the UK took some attention away from another dismal reading on the US housing situation. The Standard & Poor’s/Case-Shiller
The dollar dropped to its lowest in two months versus a basket of major currencies on Monday, as talk of inflation raised speculation that central banks outside the US will soon hike interest rates. An interview with European Central Bank President Jean-Claude Trichet in this weekend Wall Street Journal suggested that fighting inflation remains the
The dollar was generally weaker on Friday, as traders turned attention to Europe amid a lack of first-tier economic news from the United States. Reports surfaced this morning indicating that Spain is planning to bail out its beleaguered regional savings banks, which have struggled since the nation’s housing bubble burst in 2009. The dollar dropped
The euro held most of its recent gains versus the dollar and hit a fresh monthly high against the yen on Thursday, as risk appetite picked up amid easing sovereign debt concerns. Japan’s yen was down across the board on worries that impending monetary policy tightening in China will slow exports to the emerging giant.
The dollar paused versus other majors on Thursday, as Wall Street braced for a slew of economic data including the latest on the sluggish jobs market. Earlier this week the dollar tumbled to its lowest in two months versus the euro and sterling, as its European counterparts were supported by successful bond sales and talk
