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Currency Basket Of Four MajorTitle:
Euro falls to almost two-year low on Greek fears
(Reuters) - The euro slumped to its weakest level against the dollar in nearly two years on Wednesday on doubts a meeting of European leaders would calm fears of a disorderly Greek exit from the euro zone.
Investors piled money into safe-haven instruments, driving the U.S. dollar index to its strongest since September 2010. The yen, which also tends to perform well during times of stress, hit its highest level since February against the euro.
Euro zone officials have told members of the currency area to prepare contingency plans in case Greece quits the bloc, an eventuality which Germany's central bank said would be testing but "manageable," three officials told Reuters.
An informal summit of European Union leaders on Wednesday is expected to discuss growth-boosting measures and the ...
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Euro Slips Before EU Summit; Oil Dips Below $90
Sentiment is still locked with pessimism on Wednesday as the euro fell to its weakest level against the dollar sine almost four years with mounting speculation the EU summit will struggle to shore up debt-laden Greece amid increasing odds the country will leave the shared currency.
Worries about the outcome of the EU summit and the disorderly Greek exit from the euro zone continue to weigh on risk assets. Equities slumped heavily and the euro, but those worries pushed the dollar index to a 20-month high, as traders sought the safest assets amid worsening financial crisis.
With risk offset, the Japanese yen and the dollar remain at the top of the list. The USDIX, which tracks the performance of the greenback against a basket of major currencies including the euro, the pound and the ...
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Euro sinks to 21-month low as Greek exit fears rise
(Reuters) - The euro plunged to a 21-month low against the dollar on Wednesday as investors dumped the currency on growing fears of a Greek euro zone exit and widespread doubts about the outcome of an EU summit later in the day.
EU leaders are expected to discuss growth-boosting measures but are not expected to produce any plan that would restore optimism among investors, especially given Germany's strong opposition to joint euro bonds.
Investors are doubtful that the leaders will come up with any measures to calm fears that have grown since an inconclusive Greek election earlier this month left the country on the path to bankruptcy and a possible exit from the euro zone.
"The whole problem of Greece, of fiscal retrenchment in the euro zone, the lack of growth across the region, and the ...
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Euro drops to 21-month low as break up risks mount
(Reuters) - The euro fell to a 21-month low against the dollar on Wednesday as investors added to bearish bets on growing concerns about a chaotic Greek exit and widespread skepticism about the outcome of an EU summit due later in the day.
EU leaders are expected to discuss growth-boosting measures but are not expected to produce any plan that would restore optimism among investors, especially given Germany remains strongly opposed to joint euro bonds.
Investors are doubtful that the leaders will come up with any measures to calm fears that have grown since an inconclusive Greek election earlier this month left the country on the path to bankruptcy and a possible exit from the euro zone.
The euro fell to $1.2615 on trading platform EBS, dropping below the 2012 low of $1.2624 set in ...
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Euro bounces off 4-month low, but remains under pressure
(Reuters) - The euro extended its rebound from last week's four-month low on Monday but investors remained concerned over financial turmoil in Greece and Spain, drawing little comfort from a broad G8 pledge to take steps to fight the euro zone's debt crisis.
The common currency rose on short-covering after speculators piled up a record amount of bets against it, according to data from a U.S. financial watchdog released late last week.
"We are entering a consolidation phase with regard to the euro. It will not be known for a while whether Greece will stay in the euro or not with a Greek election a few weeks away," said Minori Uchida, chief analyst at the Bank of Tokyo-Mitsubishi UFJ.
"The market may show some minor reaction to Greek opinion polls... but it is hard to sell the euro in ...
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Euro at four month low against dollar as crisis spins
The euro hit a four-month low against the dollar and 3-1/2 month trough versus the yen on Friday as concerns about a chaotic Greek exit from the euro zone and instability in the Spanish banking system fuelled demand for safer currencies.
Investors were reluctant to buy riskier assets after Moody's cut the credit ratings of 16 Spanish banks on Thursday. Fellow ratings agency Fitch downgraded Greece deeper into junk territory.
The euro tumbled to $1.2642, within sight its 2012 low of $1.2624. It has shed 4.1 percent against the dollar so far in May, while demand for the highly liquid dollar pushed it up 0.3 percent against a basket of currency .DXY on the day to a four-month peak of 81.758.
Against the yen, the euro fell to 100.219 yen, its lowest level since early February.
Many ...
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Global shares, euro hit as political risks pile up
Uncertainty over the impact of a potential Greek exit from the euro on the debt-laden 17-nation currency bloc drove a rush to safety by investors on Monday, sending the single currency to near four month lows and European shares down 1.5 percent.
Problematic negotiations on forming a new Greek government have increased the chances it will be unable to meet the conditions of its bailout deal, and a worsening fiscal position in Spain has added to the sense of crisis facing the region.
The list of political risks facing the euro area grew on Sunday when German Chancellor Angela Merkel's conservatives suffered a crushing defeat in an election in Germany's most populous state.
"Selling rallies in risk assets seems the best way to make money in most asset classes given the event risk is still ...
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Pressures intensify on European leaders
Confidence is already in short supply in financial markets and could evaporate further in the coming week if investors judge that Europe's often fractious political leaders aren't mapping out a sustainable path through the current crisis.
Over the past week investors have been rocked by the increased likelihood of Greece leaving the euro, and an admission by one of the world's more highly regarded banks, JPMorgan Chase (JPM.N), of an embarrassing failure in risk management.
Many in the markets are now looking to Europe's political leaders to signal a shift in the German-led austerity drive across Europe which they now see as threatening the fragile recovery underway in the world economy if cuts are not tempered with some efforts to encourage growth.
Credit rating agency Fitch put the ...
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Euro clouded by Greece and Spain worry
(Reuters) - The euro fell close to a recent three-month low versus the dollar on Wednesday and the safe haven yen rose broadly amid worries over the impact on the euro zone stemming from political turmoil in Greece and the fragility of Spain's banking sector.
The euro remained under widespread pressure after the leader of Greece's Left Coalition party said on Tuesday that the country's commitment to a European Union/International Monetary Fund rescue deal had become null and void.
Greece's two main pro-bailout parties failed to win a majority in weekend elections, leaving questions over the country's ability to avert bankruptcy and stay in the euro.
Added to instability in Greece, French President-elect Francois Hollande has advocated an approach to tackling the debt crisis centered ...
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