Foreign Exchange News

The dollar strengthened against its major counterparts Friday after fresh economic data bolstered the market's view that the U.S. economy remains in good shape and that the Federal Reserve will continue lifting interest rates. The U.S. currency rebounded from a one-month low against the euro hit in the prior session on the back of a solid nonmanufacturing ISM index report that showed the servic ...

The euro took the currency market plaudits this week, rallying across the board as the European Central Bank raised interest rates and dropped heavy hints that there was more to come. // The move was a sign that the single currency is beginning to assert itself, after a long hiatus. For much of the 21st century, the euro has primarily acted as the “un-dollar”, rising when the dollar fell out of favour and falling when the greenback was back in demand. With eurozone interest rates stuck at 2 pe ...

The dollar rose against the yen on profit taking after a measure of inflation in Japan rose more quickly than forecast, leading to expectations that the country's quantitative easing policy may end in less than a week. The dollar rose to 116.45 yen from 115.77 yen late Thursday, while the euro eased to $1.2012 from $1.2034. In Japan, nationwide core CPI rose 0.5% from a year ago, the fastest ...

The euro rose to a one-month high against the dollar Thursday after the European Central Bank lifted its benchmark rate and left the door open for more. The ECB, as expected, lifted its key interest rate by a quarter of a percentage point to 2.5%, in response to a European economy that's slowly showing signs of a pick-up in demand after a moribund 2005. It's the second rate rise in four mont ...

The euro made strong gains on Thursday as investors eyed further eurozone interest rate rises. // The European Central Bank, as expected, sanctioned its second quarter-point rate rise of the current cycle of monetary policy tightening yesterday, taking its main refinancing rate to 2.5 per cent. However, testimony from Jean-Claude Trichet, the president of the ECB, judged to be broadly hawkish, lifted eurozone rate expectations, as did an upward revision of the ECB’s economic projections. Mr ...

The euro strengthened against the dollar early Thursday after Jean-Claude Trichet, the European Central Bank president, made a hawkish statement about the interest rate outlook in the eurozone. The ECB as expected hiked its key interest rate by a quarter-point to 2.5%, in response to an economy in Europe that's slowly showing signs of a pick-up in demand after a moribund 2005. Trichet, in a  ...

Continental bourses weakened Thursday as well-received results from Deutsche Telekom, Aviva Plc and others couldn't offset jitters ahead of an expected interest-rate hike from the European Central Bank. The German DAX 30 indexlost 0.3% at 5,848, the French CAC 40 indexdipped slightly at 5,056, while the U.K. FTSE 100 indexadded 0.3% at 5,863. The pan-European Dow Jones Stoxx 600gave up 0.1%  ...

The euro edged higher on the U.S. dollar in European trading on Thursday ahead of a likely hike in interest rates from the Continent. The euro rose to $1.1946 from $1.1918 late Wednesday. The dollar edged up to 116.08 yen from 116.01 yen late Wednesday. The European Central Bank is widely forecast to lift its key interest rate by a quarter point to 2.5%, its second rise in four months.  ...

LONDON (Dow Jones) -- Adidas-Salomon on Thursday said hedging expense tied to its $3.8 billion acquisition of Reebok International resulted in a fourth- quarter loss and said its operating-profit margin would narrow due to efforts to revitalize the American brand. The German apparel makerswung to a 4-million-euro loss in the quarter, from earnings of 20 million euros in the year-earlier quarter ...

The dollar strengthened across the board, but stuck to range trading on Wednesday, as investors shrugged off mixed inflation data and instead chose to focus on a stronger manufacturing report. The dollar erased prior session's losses after a key gauge of the strength of the U.S. factor sector came in above expectations, but gains were limited due to soft construction data and mixed personal inc ...