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 2014 the year you get RICH!

Latest Headlines

India's growth speeds up in after-glow of Modi's triumphIndia's growth speeds up in after-glow of Modi's triumph
NEW DELHI (Reuters) - The after-glow of Narendra Modi`s election victory nearly four months ago helped India`s lumbering economy register its fastest growth in two-and-a-half years for the quarter e...
U.S. consumer sentiment rises in final August readingU.S. consumer sentiment rises in final August reading
NEW YORK (Reuters) - U.S. consumer sentiment rose in August, while an index of current economic conditions hit its highest since July 2007, a survey released on Friday showed. The Thomson Reuters/Un...
HKEx to consider listing rule change after Alibaba IPO lossHKEx to consider listing rule change after Alibaba IPO loss
HONG KONG (Reuters) - Stung by the loss of the high-profile IPO of Chinese e-commerce firm Alibaba Group, the Hong Kong stock exchange on Friday took a first step towards potentially loosening its l...
Coutts sets aside 110 million pounds for investment advice flawsCoutts sets aside 110 million pounds for investment advice flaws
LONDON (Reuters) - Royal Bank of Scotland`s private bank Coutts has set aside 110 million pounds to compensate thousands of customers for unsuitable investment advice, a person familiar with the mat...
Brazil enters recession in pre-election blow to RousseffBrazil enters recession in pre-election blow to Rousseff
SAO PAULO (Reuters) - Brazil suffered a recession in the first half of the year as investment plunged and the country`s hosting of the World Cup suffocated economic activity, a major blow to Preside...

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.