LONDON (Reuters) – A struggling euro hit a session low against the U.S. dollar and record lows against the Australian and Canadian dollars on Friday after Spain’s Valencia region said it will seek central government help to repay its debts.
The news intensified concerns that Spain, the euro zone’s fourth largest economy, may not be able to avoid a full-blown international bailout, with 10-year yields trading above the 7 percent level that is seen as unsustainable.
LONDON (Reuters) – The euro edged up against the dollar on Thursday but fell to a record low against the Australian dollar, with gains in equities buoying demand for riskier and higher-yielding currencies.
Spain earlier sold 3 billion euros in debt at a cost of higher borrowing costs than previous auctions, reminding investors of the funding and economic problems facing Spain.
LONDON (Reuters) – The euro fell broadly on Wednesday after a media report that German Chancellor Angela Merkel said she could not be sure the European project would work spooked investors already cautious about the outlook for the common currency.
Although Merkel went on to say she was optimistic the project would succeed – a reiteration of her usual line on the topic – euro sold off broadly.
LONDON, July 17 (Reuters) – The dollar slipped against the
euro and most other major currencies on Tuesday before testimony
from U.S. Federal Reserve Chairman Ben Bernanke, who could hint
at more monetary stimulus after recent disappointing U.S. data.
With investors positioning for more quantitative easing by
the Fed, analysts saw a risk that the dollar may bounce or
assets such as stocks and growth-linked currencies could drop if
the Fed chief stops short of signalling more stimulus.
LONDON (Reuters) – The dollar slipped against the euro and most other major currencies on Tuesday before testimony from U.S. Federal Reserve Chairman Ben Bernanke, who could hint at more monetary stimulus after recent disappointing U.S. data.
With investors positioning for more quantitative easing by the Fed, analysts saw a risk that the dollar may bounce or assets such as stocks and growth-linked currencies could drop if the Fed chief stops short of signaling more stimulus.
LONDON, July 16 (Reuters) – The euro weakened on Monday with
investors concerned about how long it could take to mobilise
bailout funds for troubled euro zone states though falls against
the dollar were tempered before testimony this week by U.S.
Federal Reserve chief Ben Bernanke.
The euro fell to a 3-1/2 year low against sterling, a
six-week low against the yen and hovered close to a two-year low
against the dollar.
LONDON, July 13 (Reuters) – Sterling rose to a 3-1/2 high
against a broadly lower euro on Friday after Moody’s downgraded
Italy and investors sold Europe’s common currency in favour of
perceived safer alternatives.
The euro fell as low as 78.63 pence against the pound
, its weakest since November 2008. It was last at
78.74 pence, down 0.4 percent on the day.
LONDON, July 13 (Reuters) – Sterling held near a 3-1/2 year
high against a weaker euro on Friday after Moody’s cut Italy’s
credit rating, sending the country’s borrowing costs higher and
putting further pressure on its struggling economy.
The euro edged down 0.1 percent against the
pound to 79.02 pence, in sight of a 78.71 pence trough hit on
Wednesday, its weakest since late 2008.
LONDON, July 12 (Reuters) – Sterling slipped to a five-week
low against a broadly stronger dollar on Thursday after U.S.
jobless claims fell to their lowest in four years and Federal
Reserve minutes dampened expectations of further monetary easing
in the near future.
The pound dropped 0.6 percent to as low as $1.5393
- a level not seen since June 6 – after the U.S. jobs data
showed initial claims for state unemployment benefits fell more
than economists had expected.
LONDON (Reuters) – Sterling hit a five-week low against the dollar on Thursday after Federal Reserve minutes dampened expectations of further U.S. monetary easing in the near term, boosting broad demand for the greenback.
The pound also retreated slightly against the euro but held within sight of a 3-1/2 year high hit on Wednesday as concerns that policymakers were struggling to make progress in tackling the euro zone debt crisis weighed on the single currency.