Foreign Exchange News Results

  • Behind the Vast Market Rally: A Tumbling Dollar

    The dollar has made a sharp U-turn this summer following a long rally, confounding many traders but potentially adding fuel to this year's surprising stock-market rebound. The ICE Dollar Index, which measures the dollar against a basket of other major currencies, in July notched its worst month in nearly a decade and recently hit a two-year low. The fall extended a reversal that began in late March, spurred lately by ballooning worries that mounting coronavirus cases will stall...

  • Correction to Gold Hits Record High Article on July 24

    President Nixon in 1971 ended a quasi gold standard involving a fixed gold-dollar conversion price, letting the dollar float freely against other currencies. "Gold Climbs to All-Time High, Topping 2011 Record-- Update" at 2:00 p.m. ET on July 24, incorrectly said Mr. Nixon simply ended the gold standard that year.

  • Euro Nears Two-Year High as Investors Bet on Europe's Covid-19 Progress

    The euro traded near a two-year high against the dollar on signs that Europe has largely slowed down coronavirus infections and taken steps toward bolstering its weakest economies. The currency used by the 19 eurozone nations ticked down 0.3% Tuesday to about $1.1722 a euro, remaining near a level last seen in September 2018. That leaves the euro's rally so far in July at 4.3%, on course for its best monthly performance in four years. The euro's advance in part reflects concerns...

  • Dollar on Course for Worst Month in Almost a Decade -- Update

    The dollar is on track to close out its worst month since April 2011 as a rise in coronavirus infections across the U.S. threatens to damp the economic recovery and keep low interest rates in place for longer. Dollar Index, which measures the greenback against a basket of other currencies, weakened 0.8% Monday to its lowest level since June 2018, according to FactSet. Investors have sold the dollar and bought currencies of countries with lower infection levels in recent weeks.

  • U.S. Stocks Start Week With Muted Gains

    U.S. stocks rose Monday in a muted start to the week as investors awaited fresh cues on how the global economy and major businesses are faring. Gold rallied to a fresh record, propelled by rising coronavirus infections around the world that added to the uncertainty about the economic outlook. The U.S. dollar dropped to its lowest level in more than a year against a basket of major currencies, with investors betting that the Federal Reserve will continue to keep the spigot turned on...

  • U.S. Stocks Start Week With Muted Gains

    The S&P 500 ticked up Monday in a muted start to the week for stocks as investors awaited fresh cues on how the global economy and major businesses are doing. Gold rallied to a fresh record, propelled higher by rising coronavirus infections around the world that added to the uncertainty about the economic outlook. The U.S. dollar dropped to its lowest level in almost two years against a basket of major currencies, with investors betting that the Federal Reserve will continue to keep...

  • Dollar on Course for Worst Month in Almost a Decade

    The dollar is on track to close out its worst month since April 2011 as a rise in coronavirus infections across the U.S. threatens to damp the economic recovery and keep low interest rates in place for longer. Dollar Index, which measures the greenback against a basket of other currencies, weakened 0.6% Monday to its lowest level since September 2018, according to FactSet. Investors have sold the dollar and bought currencies of countries with lower infection levels in recent...

  • U.S. Stock Futures Start Week With Muted Gains

    S&P 500 futures ticked up Monday in a muted start to the week for stocks as investors awaited fresh cues on how the global economy and major businesses are doing. Gold rallied to a fresh record, propelled higher by rising coronavirus infections around the world that added to the uncertainty about the economic outlook. The U.S. dollar dropped to its lowest level in almost two years against a basket of major currencies, with investors betting that the Federal Reserve will continue to...

  • Investors Greet Signs of Progress in European Recovery Negotiations

    Investors welcomed signs of progress in the European Union's negotiations over a landmark economic recovery plan Monday, pushing down government borrowing costs and boosting the euro to a four-month high. Negotiations among the bloc's 27 leaders for spending plans worth EUR1.8 trillion, comprising a multiyear budget and a recovery fund, were due to resume in the afternoon in Brussels. Despite tense exchanges over the size of the fund and the portion that should be...

  • China's Yuan Rallies as Economy Recovers

    China's yuan strengthened to levels last hit in March, as confidence builds that the country's economy is shaking off the coronavirus pandemic, and as local stock markets soar. On Thursday, the currency traded at better than 7 to the dollar in both the tightly controlled onshore market and freer offshore markets in Hong Kong and elsewhere. Craig Chan, head of global foreign-exchange strategy at Nomura, said a weaker dollar, China's improving economic outlook and the limited...

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