LONDON—The euro firmed to a one-week high on Monday, benefiting from the dollar’s retreat after several Federal Reserve officials signaled they did not favor stepping up the rate hiking pace. The comments late last week knocked the dollar off two-decade highs and boosted global stocks and non-dollar currencies, especially the euro. The greenback index, measuring…
Dollar Set for 3rd Consecutive Week of Gains as Recession Risks Loom
LONDON—The dollar consolidated near a two-decade high on Friday as traders flirted with the prospect of a 100 basis point rate hike by the Federal Reserve later this month, while the euro was pinned near parity. Currencies perceived as riskier, including the Aussie and the pound, were under pressure as a barrage of negative news…
Dollar Climbs Further, Pinning Euro, Yen at Multi-Decade Lows
LONDON—The dollar resumed its relentless rise on Thursday, charting new 24-year highs against the yen and pinning the euro close to parity, as investors bet on the Federal Reserve ratcheting up interest rates to combat soaring inflation. Global economic turmoil has put a rocket under the safe haven dollar, pushing the dollar index that tracks…
Dollar Slips, Euro Above Parity Before US Inflation Data
LONDON—The euro edged higher on Wednesday, hovering just above parity with the U.S. dollar on Wednesday while traders focused on U.S. data due later in the session that is expected to show inflation at a 40-year high. European stock markets were in the red and the dollar index was down 0.2 percent on the day…
Euro Comes a Whisker Off Parity Versus Dollar, at New 20-year Low
LONDON—The euro fell on Tuesday, almost touching parity with the dollar, a threshold not crossed for two decades, weighed down by the likelihood of recession triggered by an energy crunch and an ECB rate rise campaign that lags far behind that of the Fed. The dollar index, a measure against six counterparts, with the euro…
Euro Flirts With Parity as Russian Gas Link Enters Planned Shutdown
LONDON—The euro tumbled towards parity versus the dollar on Monday as the biggest single pipeline carrying Russian gas to Germany entered annual maintenance, with flows expected to stop for 10 days. Investors are worried the shutdown might be extended due to the war in Ukraine, restricting European gas supply further and tipping the struggling eurozone…
Yen Cedes Knee-Jerk Gains After Abe Shooting, Euro-Dollar Hovers Near Parity
LONDON—Safe-haven demand briefly lifted the yen on Friday after former Japanese prime minister Shinzo Abe was shot while campaigning for a parliamentary election, while the dollar’s continued strength kept the euro hovering just above parity. The single currency has hit successive 20-year low this week on signs the eurozone economy will tip into recession, but…
King Dollar Stands Tall as Recession Fears Churn Global Markets
NEW YORK—A cocktail of global growth fears, Federal Reserve hawkishness and euro weakness has boosted the U.S. dollar to its highest level in around 20 years, and some investors are betting there may be more gains ahead. The dollar index, which measures the greenback against six major currencies, is up 12 percent against a basket…
Euro Just Off Two-Decade Low, Volatility at Highest Since March 2020
A slight pullback in the dollar offered the euro some respite, allowing it to edge away from two-decade lows reached this week after surging energy prices fanned recession fears. Risky assets, including the euro, managed gradual gains on Thursday as investors grappled with the risks of a recession and a potential pause in interest rate…
Euro Falls to Lowest Since 2002 on Concerns Over Energy Prices
July 6, 2022
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The euro tumbled to a new two-decade low on Wednesday as fears over rising energy prices and potential shortages cast a long shadow over the bloc’s economy, while demand for safe-haven assets drove the dollar to fresh 20-year highs. All oil and gas fields that were affected by a strike in Norway’s petroleum sector are…
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