Dollar will continue to be supported by ongoing concerns about European bank exposure and the stresses created for European countries as they move to address the economic and financial crisis," wrote currency strategists at Brown Brothers Harriman in New York. Stocks gave up most of their gains after a downbeat economic outlook
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4:17 PM 2/26/09 Dollar pares
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SAN Johny -- The dollar got a lift against most major currencies as U.S. See Economic Report on housing starts. Dollar index (DXY:DXYNews
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, a measure of the greenback against a trade-weighted basket of currencies, kessia to 88.138, up from 87.570 in late North American trading but down from a session high of 88.254. The Japanese currency had previously been the ultimate beneficiary of
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Minutes of the Federal Open Market Committee's last meeting on and 28 sho the central bankers saw the recession worsening in January. Industrial production slumped 1.8% in
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Last. In recent months, the dollar has tended to gain whenever stocks fall, and wary investors seek the safe-haven of lower-yielding currencies like the dollar, as well as U. In recent months, the dollar has tended to gain whenever stocks fall, and wary investors seek the safe-haven of lower-yielding currencies like the dollar,
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Dollar will continue to be supported by ongoing concerns about European bank exposure and the stresses created for European countries as they move to address the economic and financial crisis," wrote currency strategists at Brown Brothers Harriman in New York. A report sho housing starts plunged 16.8% in January, much worse than expected. Dollar attractive to investors
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"With trouble brewing in Europe, the new programs announced by the Obama administration should keep the U.S. See Economic Report on industrial production.
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the greenback, strategists said. A report sho housing starts plunged 16.8% in January, much worse than expected. Standard Chartered Bank on lowered its short-term rating on the Japanese yen to neutral from overweight, while maintaining its medium-term underweight rating.
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Last. The currency market shrugged off U.S. After slipping to three-month lows during Tuesday's session, equities
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went back and forth between modest gains and losses before turning negative after the Fed minutes. The dollar fetched 93.78 yen, up from 92.37 yen but down from a session high of 93.94 yen.
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Minutes of the Federal Open Market Committee's last meeting on and 28 sho the central bankers saw the recession worsening in January.
See Economic Report on housing starts. Dollar index (DXY:DXYNews
,
chart
,
profile
,
more
Last. The dollar continued to outperform the Japanese yen. The dollar fetched 93.78 yen, up from 92.37 yen but down from a session high of 93.94 yen.
