Archive for July, 2008
USD Comeback Act
After Monday’s record euro high breaking through $1.60 against the dollar, we are now seeing some strength and resilience in the US dollar.
The recent fundamental news coming out from the investment bank Wells Fargo seems to shed some light on the ability of such banks to withstand pressure from the credit crunch.
Derek Halpenny, head of [...]
Dollar Confidence Falling
After we saw a new peak yesterday for the euro against the dollar, wit ha break through $1.6000, the dollar has remained little changed on better than expected second-quarter figures from Wells Fargo.
Shaun Osborne of TD Securities in Toronto said, “the Wells Fargo news took some pressure off of the systemic risk facing the financial [...]
Euro Trading Lower After Trichet Comments
European Central Bank president reiterated that the US currency needs keep repeating support for a strong currency. This sent the euro near to a one week low against the dollar.
The euro traded at $1.5677, near the lowest since June 25, from $1.5670 yesterday.
ECB president Jean-Claude Trichet said, “it’s very important that U.S. authorities repeat that [...]
Euro Falls Back On Speculation of Worsening Economic Climate
The euro fell against the dollar after expectation of a worsening economic situation in the eurozone.
Simon Derrick of Bank of New York Mellon said, “a lot of this euro weakness is due to the market changing expectations with regards to ECB policy. Trichet made it clear that yesterday’s move was not the start of a [...]
Dollar Trading Lower Against Euro
After Fed announcements early last month led to dollar recovery, we have seen the USD trading near a two month low against the euro.
The drop is likely due to speculation of poor US payroll figures along with speculation that the European Central Bank will remain hawkish and raise interest rates to curb inflation in the [...]
