The dollar stabilized after hitting a monthly low against a basket of major currencies on Tuesday. Major European currencies have rallied in recent days amid speculation that policy makers across the Atlantic will combat inflation by raising interest rates sooner than expected. Also, successful bond auctions by Spain and Portugal have suggested the nations may
The euro continued to pressure the dollar on Friday, a day after the European Central Bank returned its focus to inflation despite pronounced economic weakness on the periphery of the euro area. The region appears to have dodged another bullet with this week’s successful bond auctions by debt-ridden Spain, Italy, and Portugal. It was feared
The dollar drifted lower against a basket of major counterparts on Wednesday, as a successful bond auction for Portugal boosted appetite for riskier assets. The Fed’s Beige Book said this afternoon that the US economy strengthened in the final months of 2010, as the jobs picture brightened across the country. The world was watching events
The euro halted a four-day decline against the dollar Monday morning, but was unable to take back much of its steep recent losses amid lingering concerns that Europe’s sovereign debt crisis is about to spiral out of hand. The European Central Bank was said to be buying Portuguese bonds this morning, providing temporary relief after
The euro rallied against the Swiss franc and yen to pare recent losses on Tuesday, as Eurozone annual inflation breached the European Central Bank’s target for the first time in more than two years. The harmonized consumer price index, or HICP, rose 2.2% year-on-year in December, a preliminary estimate from the European Union statistical office
