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

Oil extends losses as deadline for Iran nuclear deal loomsOil extends losses as deadline for Iran nuclear deal looms
SINGAPORE (Reuters) - Oil futures extended losses on Tuesday, as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal that could ease sanctions and allow more Ira...
Taiwan to apply to join China-backed AIIB investment bankTaiwan to apply to join China-backed AIIB investment bank
TAIPEI (Reuters) - Taiwan will submit an application to join the Beijing-led Asian Infrastructure Investment Bank (AIIB) on Tuesday, a spokesman for the office of the island`s president said. The an...
Taiwan to apply to join China-backed AIIB investment bankTaiwan to apply to join China-backed AIIB investment bank
TAIPEI (Reuters) - Taiwan will submit an application to join the Beijing-led Asian Infrastructure Investment Bank (AIIB) on Tuesday, despite historical animosity and a lack of formal diplomatic relati...
Asia up on Wall St. rally and China hopes, euro sags on GreeceAsia up on Wall St. rally and China hopes, euro sags on Greece
TOKYO (Reuters) - Asian stocks rose across the board on Tuesday after a rally on Wall Street and steps by China to shore up its economy boosted risk appetite, while Greek debt worries again haunted ...
Finance Minister Aso: Japan still 'very cautious' about joining AIIBFinance Minister Aso: Japan still 'very cautious' about joining AIIB
TOKYO (Reuters) - Finance Minister Taro Aso said on Tuesday that Japan remains "very cautious" about joining the China-led Asian Infrastructure Investment Bank (AIIB), indicating that Tokyo will miss ...

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