Euro's October To January

The euro slipped to a four-month low against the dollar on Tuesday as a political stalemate in Greece stoked fear the country may renege on bailout pledges made to international creditors and exit the currency bloc. Concerns about slowing Chinese and global growth also drove down higher-yielding currencies and boosted the safe-haven dollar and yen, with the Australian dollar flirting with a five-month low against the U.S. currency. Greek Party leaders are expected to convene at 2 p.m. (1100 GMT) but there is little hope President Karolos Papoulias's proposal to form a technocrat government would end the stalemate, making a new election the most likely outcome. Many market players think a fresh election will make it more likely for Athens to ditch its bailout pledges and hence the euro, ...

(Reuters) - The dollar edged up against a basket of currencies on Tuesday, supported on safe-haven demand as risk sentiment soured, and making strong gains against the Australian dollar amid concerns that China's appetite for raw materials could be slowing. The Aussie fell 0.8 percent on the day to $1.0528, coming under pressure after global miner BHP Billiton said it saw signs that growth in iron ore demand was flattening in China, Australia's single biggest export market. Concerns that a slowdown in China could hit global growth pushed the dollar index up 0.2 percent at 79.659 .DXY, moving towards its March high of 80.738, a break above which would take the greenback to its highest levels since January 18. "There's a stronger (U.S.) dollar move generally today with any hint that ...

(Reuters) - The dollar hovered near a one-week low against a basket of currencies on Tuesday, but recent signs of improvement in the U.S. economy and rising Treasury yields were likely to lend it some support. The dollar index was marginally higher at 79.533 .DXY by 0540 GMT, regaining a bit of ground after dipping to 79.354 on Monday, its lowest level since March 9. One possible support level lies roughly around 79.30, its 100-day moving average. "I don't expect to see the dollar pull back significantly," said Mitul Kotecha, head of global foreign exchange strategy for Credit Agricole in Hong Kong. "It's probably going to be a consolidation week for the dollar." The euro eased 0.1 percent to $1.3231, inching away from a one-week high near $1.3266 hit on Monday. A trader for a major ...

(Reuters) - The dollar hit its highest level in nearly a month versus the euro on Monday after last week's upbeat jobs data suggested the U.S. economy may not be in dire need of further monetary stimulus from the Federal Reserve. The euro struggled after facing what traders described as a buy-the-rumor-sell-the-fact fall on Greece's bond swap deal with private creditors which will clear the way for a new bailout. The single currency slipped 0.3 percent to $1.3087, having dipped to as low as $1.3079 at one point on trading platform EBS, the euro's lowest level since February 16. Possible support for the euro lies near $1.3055, the 50 percent retracement of its January to February rally. "There's a risk of euro/dollar sustaining a move below $1.31," said Mitul Kotecha, head of global ...

The euro fell to a one-week low against the dollar in choppy trading on Thursday as U.S. economic data showed the recovery lost steam earlier this year but remained in better shape than the euro zone. U.S. manufacturing cooled in February and consumer spending was flat in January for a third straight month. Other data, though, showed new claims for jobless benefits fell to a near four-year low last week while reports from retailers and automakers on February sales were also upbeat. Prospects for a sustained economic recovery around the globe, however, darkened as sputtering factory activity in Europe overshadowed more positive data from Asia. The euro had already been weak before New York opened after a huge injection of cash by the European Central Bank on Wednesday and lingering ...

The euro was little changed in volatile trading on Thursday after falling to a one-week low on U.S. economic data which had reignited doubt about the strength of the recovery. Real personal consumption in January was unchanged from the prior month, making it the third month in a row it was flat. The euro had already been weak before New York opened after a huge injection of cash by the European Central Bank on Wednesday and lingering concerns about debt and the fragile euro zone economy. Testimony from Federal Reserve Chairman Ben Bernanke to a Senate panel after testimony to Congress on Wednesday was closely watched but in the final analysis had minimal impact. "The manufacturing ISM (was) more important and it should keep the pressure on the euro today," said Joseph Trevisani, chief ...

(Reuters) - The euro jumped to a 2-1/2-month high against the dollar and a multi-month high versus the yen on Thursday as solid data on Germany, Europe's biggest economy, offset a bleak economic forecast from the European Commission. The euro traded above its 100-day moving average on Thursday for the first time since late October after the Ifo think-tank reported that business sentiment in Germany rose for a fourth straight month in February, boosting optimism on the country's economy. The euro, however, retreated from the highs after the European Commission said the euro zone economy was heading into its second recession in just three years. The commission, the executive arm of the European Union, said growth in the wider EU will stagnate, warning that the 17-nation single currency ...

(Reuters) - The euro pulled away from two-month highs against the dollar and the yen on Friday as worries over Greece's commitment to debt restructuring lingered even after it clinched a deal on fiscal reforms to secure funding and avoid default. Athens struck a long-awaited agreement on harsh austerity steps necessary for a second international bailout in two years, and a debt swap deal between Greece and its private bond holders was practically finalized. Eurogroup chairman Jean-Claude Juncker set three conditions, however, saying the Greek parliament must ratify the package, a further 325 million euros of spending cuts needs to be found, and political assurances must be given that the plan will be implemented. This dampened risk appetite across Asian markets, and weighed on the euro ...

(Reuters) - The euro hit a fresh two-month high versus the dollar on Wednesday, supported by hopes that Greece may soon agree to austerity steps needed to secure a second bailout and avoid a disorderly default. The single currency also hit a seven-week peak against the yen, its rise gaining steam due to stop-loss buying. The yen retreated broadly on the crosses, with traders saying the technical outlook for cross/yen pairs had improved after their recent breach of some technical resistance levels. The euro surged 0.5 percent against the yen to 102.30 yen. It rose as high as 102.44 yen at one point on trading platform EBS, the euro's highest level versus the Japanese currency in about seven weeks. The single currency rose 0.2 percent versus the dollar to $1.3281, having touched a two- ...