Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Forex Market Update: Euro Trading Close to a Two-Week Low against the Dollar

Monday, February 11, 2013 8:28 AM
The euro was trading close to its two-week low against the U.S. dollar in early trading on Monday amid rising political uncertainty in the euro zone. Meanwhile, the Japanese yen weakened against the dollar and the euro on Monday after rallying in the previous trading session. After making a strong start this year, the euro has come under pressure amid rising political uncertainty in Spain and Italy, and concerns over Cyprus. Comments made by European Central Bank (ECB) President Mario Draghi are also weighing on the single currency. Jane Foley, Senior Currency Strategist at Rabobank, told Reuters that the pace of euro’s gains in January made her feel uncomfortable as it was too far, too fast. Foley expects a period of consolidation over the next few months. However, she noted that if news from Cyprus, Spain and Italy is not good, the single currency could fall to $1.30. On February 1, the euro rose to $1.3711, a multi-year high against the greenback. However, since then the single currency has fallen sharply. At last check on Monday, the euro was trading at around $1.3381, close to its two-week low of $1.3353, which it hit on Friday. The yen, meanwhile, weakened against the dollar and the euro in early trading on Monday after the rally on Friday. The Japanese currency rose sharply on Friday after comments from Japan’s finance minister that the yen’s drop in recent weeks was steeper than intended. The Japanese finance minister’s comments suggested that the Bank of Japan (BOJ) may not implement additional monetary easing measures. At last check on Monday, the euro was up 0.3% to 124.29 yen. The dollar rose 0.3% to 92.93 yen. Last week, the dollar had risen to a 33-month high against the yen. The dollar index, which tracks the performance of the greenback against major currencies, was at 80.298, at last check.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!

Latest Headlines

Majority of Germans favor Greece remaining in euro: pollMajority of Germans favor Greece remaining in euro: poll
BERLIN (Reuters) - A majority of Germans favor Greece remaining in the euro zone despite its new leftist government in Athens rejecting austerity, a poll for newspaper Bild am Sonntag showed on Sunday...
Fed's 'solid' growth view faces test as Greek drama unfoldsFed's 'solid' growth view faces test as Greek drama unfolds
BRUSSELS (Reuters) - The Federal Reserve`s upgraded view that growth in the world`s biggest economy is "solid", and so capable of withstanding an interest rate rise this year, will be put to the tes...
Firms prepare for new tax rules as China vows crackdownFirms prepare for new tax rules as China vows crackdown
BEIJING (Reuters) - The Chinese government`s vow to increase tax scrutiny of foreign companies has sent firms rushing to tax advisors ahead of the implementation on Sunday of new rules designed to r...
China factory sector jolts by shrinking in January China factory sector jolts by shrinking in January
BEIJING (Reuters) - China`s factory sector unexpectedly shrank for the first time in nearly 2-1/2 years in January and firms see more gloom ahead, an official survey showed, raising expectations tha...
China official PMI falls to 49.8, lowest in over two yearsChina official PMI falls to 49.8, lowest in over two years
BEIJING (Reuters) - Activity in China`s factory sector contracted in January for the first time in more than two years, an official survey showed on Sunday, which will increase gloom about the outlook...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
AppleStock FREE AAPL Signals realtime daytrade signals