The euro hit a 22-month low against the dollar on Thursday on the prospect of diverging monetary policy between the Federal Reserve and the European Central Bank as rate differentials swing decisively in the greenback's favor.
Tags: Euro
Asia down as Ebola scare hits Wall St., dollar rally on pause
Asian stocks fell on Thursday, dragged lower after the first case of Ebola diagnosed in the United States spooked Wall Street overnight, while a bout of risk aversion pushed down yields and put the dollar's recent rally on pause.
Dollar scales six-year peak vs. yen, euro struggle intensifies
The dollar rose above 110 yen for the first time in six years and held near a two-year peak against the euro on Wednesday, as investors added to bets that U.S. data will drive the Federal Reserve to tighten policy.
Dollar surges anew, euro zone data eyed
The dollar rose to new multi-year highs against the yen, euro and a basket of currencies on Monday, a three-month-old rally showing no signs of dissipating before a week of important economic set pieces.
Dollar hits four-year high, Asian stocks on edge as HK seethes
The dollar hit a four-year peak against a basket of currencies in early Asian trade on Monday, bolstering Japanese shares, but other Asian shares shrugged off Friday's Wall Street rebound in the face of political unrest in Hong Kong.
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Asian stocks slipped on Thursday, giving back earlier gains as initial cheer from a rebound on Wall Street fizzled out, while the New Zealand dollar hit a one-year low when the central bank governor decried the currency's recent strength.
Asian shares got off on the back foot on Monday after an uninspiring session on Wall Street, while the dollar gave back a little of its recent solid gains in early trading.
The U.S. dollar held near a six-year peak against the yen early on Thursday and powered to a seven-month high on its New Zealand peer, which fell after the country's central bank said its current level is "unjustified and unsustainable".
Asian shares tumbled on Wednesday as markets wagered the Federal Reserve would raise interest rates earlier than expected, sending U.S. bond yields higher and keeping the dollar well bid near 14-month highs against a basket of major currencies.
Asian shares balked at the starting gate on Monday, skittish in the face of a deepening Ukraine crisis, while the euro touched a fresh one-year low ahead of this week's European Central Bank meeting.
Asian shares held firm while the euro hit one-year lows on Tuesday as investors increasingly expect the European Central Bank to expand liquidity as soon as next week to boost the sagging euro zone economy.
The euro fell to its lowest in nearly a year against a firmer dollar on Monday after the head of the European Central Bank said he was prepared to take action if inflation dropped further, raising expectations of quantitative easing.
John Hancock Funds and Merk Investments LLC, the top US foreign-exchange mutual funds who earned profits last year, had opposing views about the US dollar's performance this year, a Bloomberg report said.
Some say the Euro is overvalued while others claim it is not. The founders of the Euro had dreamt of a superpower currency that can go head to head with the US dollar, to free Europe from US economic dependence.
