euro

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$1T US Bailout May Crush Dollar's Rally

Plan's huge pricetag undermines confidence in the buck

(Newser) - The US plan to spend up to $700 billion on suspect mortgage-related instruments and a possible additional $400 billion to insure money market mutual funds may stabilize financial markets—but it’s just as likely to send the dollar into a dive, eroding its 3-month rally, reports Bloomberg. “The...

Dollar Soars to 1-Year High
 Dollar Soars to 1-Year High 
Sep 8, 2008 8:06 AM CDT

Dollar Soars to 1-Year High

Greenback climbs higher still after Fannie-Freddie bailout

(Newser) - The dollar rallied to a 1-year high against the world's currencies today, following Treasury's decision to seize control of Fannie Mae and Freddie Mac. After an early hiccup, the greenback advanced to $1.41 against the euro while also climbing against the yen, the pound, and the Swiss franc. While...

Pound Plunges to Record Low Against Euro

Gloomy economic outlook sends British currency tumbling

(Newser) - The British pound has sunk to its lowest level ever against the euro since the European currency was introduced in 1999, the Financial Times reports. The fall follows Chancellor Alistair Darling's dire warning that the outlook for the British economy is the worst in 60 years. The pound dropped to...

World Markets Tumble, Dollar Hits New Low

Euro hits $1.60 as banks lead declines

(Newser) - World stocks hit their lowest level since 2006 today as credit-market losses and weakening consumer confidence sent shares falling, reports Bloomberg. The big banks, from UBS in Europe to Cathay in Asia, led declines. The MSCI World Index, Morgan Stanley's indicator of global finance, has now slid into bear market...

Weak Dollar Sends Vatican to $14.5M Loss

Catholic church blames declining greenback as it goes into the red

(Newser) - The weak dollar has wreaked havoc on business across Europe, but one organization has posted a surprising loss: the Vatican. The Catholic Church blamed the declining greenback for its first loss in 4 years as it ended the year $14.5 million in the red. The Guardian reports on how...

Europe Hikes Interest Rates to Curb Inflation

Central bank's quarter- point increase to 4.25% is first move in a year

(Newser) - The European Central Bank today adjusted interest rates for the first time in more than a year, reports MarketWatch, raising the main rate by a quarter-point to 4.25%. The increase comes just after a report that inflation in the eurozone has reached 4%, the highest rate since the introduction...

Euro-Weary French Village Reverts to Franc

Town revives old currency to spur business

(Newser) - Six years after scrapping the franc for the euro, one sleepy town in southern France has reverted, the New York Times reports. Says the mayor of Collobrières, population 1,600, “We lost something with the franc. We lost an identity. We moved very quickly into Europe, maybe too...

Dollar Soars to Biggest Weekly Gain in 3 Years

Greenback posts record advances ahead of G8 meeting

(Newser) - The dollar posted its biggest gain in almost 3 years this week, soaring 2.5% against the euro and 2.8% against the yen. This morning in London the dollar was trading at $1.54 against the euro, with analysts predicting a rise as high as $1.45 by year's...

Dollar Hits 6-Week High Against Euro

US, Europe team up to boost gaining greenback

(Newser) - The dollar hit a six-week high against the euro yesterday, leading relieved policymakers on both sides of the Atlantic to hope that the worst is over, reports the Financial Times. Analysts still reckon that Washington will continue its policy of benign neglect: a soft dollar encourages exports and reduces the...

Euro About to Mark 10 Years
 Euro About to Mark 10 Years 
ANALYSIS
May 1, 2008 6:02 PM CDT

Euro About to Mark 10 Years

Common currency has its share of winners and losers

(Newser) - Like many 10-year-olds, the euro has had its ups and downs, but its current ascendancy is worrying, and not just to fans of the weakening dollar; some European states are chafing at the strength of their common currency, the New York Times reports. The German economic engine is causing high...

Dollar Rallies at Last
 Dollar Rallies at Last 
Apr 25, 2008 6:46 AM CDT

Dollar Rallies at Last

Greenback posts biggest advance since March as eurozone sputters

(Newser) - The dollar rose to a three-week high against the euro today and looked set to post its biggest weekly advance since March. The dollar advanced to $1.55 per euro this morning in London, after falling below the $1.60 barrier on Tuesday. The dollar also gained against the yen,...

Consumer Prices Rise in March; Oil Blasts Past $114

Jump in energy, food costs outweighs cheaper clothes; new record for crude

(Newser) - Consumer prices rose an anticipated 0.3% in March, propelled by hikes in the costs of energy, food, and airline tickets; a commodities rush and weak dollar also pushed crude oil to a record high today. Energy costs rose 1.9% in March, the AP reports, and the past year...

G-7 Ministers Talk Tough on Sliding Dollar

Strong words signal desire to keep dollar from the abyss

(Newser) - The Group of Seven's finance ministers are getting more aggressive about stopping the greenback's decline, the Wall Street Journal reports. In what counts as blunt words for the group, a statement yesterday expressed concern about the plummeting dollar's "possible implications for economic and financial stability." The change in...

25 Ways to Save in Europe
 25 Ways to Save in Europe 
Mar 19, 2008 12:16 PM CDT

25 Ways to Save in Europe

Don't let the dismal dollar derail your dream vacation

(Newser) - Worried that exchanging your dollars into pounds will leave you with pennies? MSNBC outlines 25 ways to stretch your money in Europe.
  1. Find no-cost entertainment, like free days at museums or public concerts.
  2. Use a credit card or get cash from an ATM for the best exchange rates and lower
...

Stocks Bounce, End Mixed
 Stocks Bounce, End Mixed 
MARKETS
Mar 17, 2008 3:50 PM CDT

Stocks Bounce, End Mixed

Stocks are up... no down... what's going on?!

(Newser) - Stocks seesawed throughout the day, finally ending today's session mixed, with the Dow closing up. The markets struggled to rebound from serious losses sustained after Bear Stearns' fire sale; buyer JPMorgan Chase's stock closed up 11%. The Dow ended up 21.16 at 11,972.25, the Nasdaq down 35....

Dollar Nosedives, Global Markets Tumble
 Dollar Nosedives,
 Global Markets Tumble 
UPDATED
Mar 17, 2008 3:55 AM CDT

Dollar Nosedives, Global Markets Tumble

Greenback falls to record lows after Bear buyout, rate cut

(Newser) - The dollar took a pummeling and equity markets in Europe and Asia slumped as worried investors reacted to the Bear Stearns fire sale and the Fed's emergency rate cut. The dollar dropped to a shocking 95 yen, hit an all-time low of $1.59 against the euro, and remained below...

Dollar Makes Comeback as Banks Predict Intervention

Greenback back above 100 yen, gains on euro

(Newser) - The dollar made a recovery today after yesterday's disastrous fall, pulling back above 100 yen and gaining against the euro and the pound. The greenback's advance comes as securities firms speculated that the Fed and other central banks will collaborate to safeguard the dollar for the first time in 13...

Dollar Hit as Emerging Economies Fight Inflation

$108 oil pushes gas prices higher

(Newser) - A weak US dollar continued to fuel surging commodity prices today, keeping oil near $108 a barrel and moving a gallon of gas to $3.225, with analysts predicting near $4 prices by spring, the Wall Street Journal reports. Stress on the greenback is coming from not only major but...

Oil Gushes to Record $105.96
Oil Gushes to Record $105.96
Mar 6, 2008 8:32 AM CST

Oil Gushes to Record $105.96

A weakening dollar and falling inventories of oil are pushing crude prices up

(Newser) - An ever-weakening dollar, an unexpected drop in US crude oil reserves, and a Wednesday OPEC decision not to boost production helped spur oil to a record $105.96 a barrel, Bloomberg reports. It's the third record this week, and the dollar’s $1.5345 against the euro is the lowest...

Dollar's Slide Pushing Oil Prices Higher

Economic data hammers the greenback as worries about US economy deepen

(Newser) - The dollar continued its fall as unrelentingly dismal economic data eroded confidence in the US economy, Bloomberg reports. The greenback set a new low of $1.52 against the euro this morning and hit a three-year bottom against the Japanese yen. Oil surged more than $2 a barrel to $103....

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