The currency trading session started with the euro managing to improve to the highest levels it has been at so far this year. The US dollar dropped in value against the common currency as expectations that there are measures in place to deal with the circumstances occurring in Greece are in place. Investors in European banks also seemed to be available, reducing the risk to the investors overall. For the day, the euro moved to trade at US $1.3021 by the end of the North American trading session on Monday. This is up from the US $1.2936 position it was at the close of business on Friday. The US dollar index moved from 80.148 at the close of business on Friday to 79.777 by the end of Monday. The US dollar moved from Y 76.90 on Friday to Y 77.02 by the close of business on Monday.
On Tuesday, the euro pared its losses but remained close to the psychological point of US $1.30. Investors were watching and waiting for news out of the Federal Reserve in the US, the first meeting for the year, prior to making their move. The euro did fall during the day as anticipation for a Greek deal seemed to fade throughout the day. However, investors did not believe that the needs for the need were too high and thus a better put together deal may be in the works. The euro moved to trade at US $1.3026 for the day. The US dollar index moved to trade at 79.853 at the close of business. The US dollar moved to buy Y 77.74 by the end of the day.
The Wednesday currency trading session saw the US dollar fall to the lowest point of the year after the Federal Reserve information came out. The Federal Reserve indicated during the day that it would keep key lending interest rates very low for the long term, even as long as more than a year more than what it previously stated. This did not bode well with investors who hoped to see improvements. The US dollar index moved to 79.563 by the end of the day. The euro moved to US $1.3091 as well. The US dollar bought Y 77.78 by the end of the session.
The US dollar improved during the day's session. It improved from seven week lows against most major currencies. This came in after numerous economic reports out of the US provided more worry for investors. The US dollar index moved to trade at 79.416 by the end of the day. The euro traded at US $1.3107. The US dollar bought Y 77.48.
The currency session for the week saw the US dollar lose its ground on Friday. The euro did find investors after information provided a more clear picture of what is happening in Greece and ensured that there were investors available to help the country. Greek government debt seemed to be under control. US economic conditions, though, hurt traders as information showed the economy grew at a slower pace than predicted. The US dollar index would close the week at 78.854. The euro moved to close the week at US $1.3216.
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During the Monday trading session, all eyes were on the movements of the euro. The currency did manage to hold onto is ground even though a number of downgrades worried investors. The euro was at risk due to the continued concerns about Greece potentially defaulting on its loans. It was also at risk as the Standards and Poor's credit agency downgraded nine of the euro zone countries to lower credit ratings. The euro moved from US $1.2677 in late North American trading on Friday to US $1.2673 for the day. The US dollar bought Y 76.75 from the Y 76.9 it was at on Friday. The US markets were closed in observance of a national holiday.
At the start of the Tuesday trading session, the US dollar took a hit. The dollar fell as improved data out of China and Germany helped to encourage investors to take on some of the risk they were avoiding. As a result, the US dollar index moved the current to trade at 81.175 for the day. The euro managed to improve to US $1.2728 for the day as well. The economic good news helped to strengthen the mood of the markets globally. The US dollar bought Y 76.84 for the day as well.
The Wednesday session saw more of the US dollar falling. This time, the International Monetary Fund was behind the movements in the market. The IMF reported to drastically boost its lending ability. More so, there was a sense of optimism in the markets that Greece, which many investors worry is likely to default on its loans, would not in fact do so. Negotiations were occurring throughout the market day. The euro moved to trade at US $1.2852 by the end of the session. The US dollar index showed the currency at 80.540 by the end of the day. The US dollar managed to buy Y 76.79 for the day.
Thursday continued the week's advances of the euro. During the day, the euro managed to reach the psychological point of US $1.29 during the session on Greece optimism. Investors were also happy that there were buyers available to buy French and Spanish debt. This helped to encourage investors to move into more risky investments. The euro moved to buy US $1.2942 for the day. The US dollar index moved the currency to trade at 80.198 by the end of teh North American trading session. The US dollar bought Y 77.17.
By the end of the Friday trading session, the euro managed to improve again. The US dollar ended the week lower on improved sentiment throughout the market. Investors did adjust their positions heading into the weekend and the expectation that there would be a solution for Greek's impending financial stress. The euro closed the week at US $1.2936. The US dollar index would end at 80.148 for the week. There is no doubt that investors continued to be nervous about movements in the market especially with the Greek debt. The US dollar bought Y 76.90 as well.
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The currency market started the week with the dollar falling. Investors reversed bets against the euro after the currency fell last week. The previous week, it fell to a 16 month low versus the US dollar. Investors hoped to see the currency improved this week. The US dollar index moved the currency from 81.47 at the end of Friday in North American trading to end the Monday session at 81.001. It did manage to get as high as 81.47 during the day's trading prior to retreating. The euro moved from US $1.2725 on Friday to US $1.2765 by the close of business on Monday. The US dollar bought Y 77.01 on Friday and, by the end of Monday's session bought Y 76.87.
The Tuesday trading session saw the US dollar fall some against the commodity linked currencies. It fell against the euro as well as the Austrian dollar and the Swiss frank. The US dollar index slipped to 80.864 for the day. Against the euro, the US dollar struggled as well. It moved to trade at US $1.2778. The US dollar bought Y 76.83 against the Japanese currency. With the Swiss National Bank's chairman abruptly resigning, investors were worried about the outcome.
The Wednesday session saw the US dollar coming back up and reclaiming some of the loss it saw on Tuesday. Investors turned away from the euro, and that meant that it fell back under the psychological point of US $1.27 for the day. Investors were waiting and watching to see what the European Central Bank meeting would play out, as well as the European auctions in place. The US dollar index moved to 81.313 by the need of the session. The euro moved to US $1.2661 by the end of the day. Against the Japanese yen, the US dollar bought Y 76.87.
The Thursday trading session saw the US dollar fall against the euro during the day. It would manage to fall to the lowest level that the currency has been at in more than a week. This occurred after the European Central Bank's President helped to fuel confidence during the trading day. President Mario Draghi said he was confident about the effectiveness of the long term lending operations the bank had taken under. This pushed the US dollar index to 80.799 by the end of the day. The euro traded at US $1.2826.The US dollar bought Y 76.77 for the day.
On the final day of the week, the euro fell more than a full percentage point. Credit rating agency Standards and Poor pushed Austria and France's triple A rating lower. It also cut into seven other euro zone sovereign ratings lower during the day, including Italy, Portugal, Cyprus, and Spain. This pushed the euro lower to US $1.2677 during the day. For the week, the euro was down by 0.4 percent. The US dollar index moved to 81.459 for the day. This pushed the dollar index higher by .03 percent for the week. The US dollar bought Y 76.90 by the end of the day's trading.
]]>To start the year, the euro took a hit. The trading for the day remained light as much of the world continued to celebrate the holidays. A key manufacturing report indicated that the euro zone region saw a pull back in manufacturing for the month, making it the fifth straight month of such a decline. The euro moved from US $1.2296 at the end of Friday's trading session to US $1.2931 by the end of Monday's session. The US dollar moved to trade at Y 76.90 which is only a slight change from Y 76.99 from Friday's session. For 2011, the US dollar index moved the current up 1.5 percent.
On Tuesday, the US dollar took a hit. As a result of positive economic data, currency traders moved to the risk of the euro to earn a payout. The euro managed to push upwards to above US $1.30 as a result. The improved economic data came from Asia and Europe, as well as the US. The euro managed to move up to US $1.3064 for the day. The dollar index pushed the currency to 79.591 for the day, a drop of about .8 percent. The US dollar moved to buy Y 76.68 by the end of the Tuesday trading session.
As a reverse for the day, the US dollar improves. Investors move away from risk as continued concern about euro zone debt comes to the top again. Spain brought concern to the table as a report indicated that the country may be looking for financial aid. As a result of the renewed concern about debt in the region, the US dollar index moved to 80.119 by the end of the session. The euro fell to US $1.2939 for the day. The US dollar moved to purchase Y 76.73 by the end of the day's trading.
The euro continues to struggle on Thursday. It fell below US $1.28. It has not been that low against the US dollar for the last 16 months. The US dollar index pushed the Us dollar higher to one year highs against its major rivals. This came after concerns about the European bank capital remerged and continued to push investors away from the perceived risk of the euro. The euro moved to buy US $1.2775 for the day. The US dollar index moved to 80.925 for the day. The US dollar purchased Y 77.10 for the day, up for the day's trading.
To end the week, the US dollar hit a one year high after information about payrolls came out. The euro fell back again for the week. The report out of the US indicated that the US economy added more jobs than was expected to occur in the month of December. The euro fell to US $1.2725 for the day, significantly under the psychological level of US 1.30. The US dollar index moved to 81.244 for the day. The US dollar moved to buy 77.01 for the day.
]]>The Monday session after the Christmas holiday had light trading. However, the euro did manage to move slightly higher during the day. This happened during the early in the day session in East Asian through the afternoon hours there. Since most markets were closed for the holidays, trading overall was light. The US dollar was slightly weaker by the end of the session against most of its rival currencies. The euro started the day at US $1.3047 from the Friday trading session in North America and moved to trade at US $1.3059 by the end of the day's trading. The US dollar bought Y 78.03 at the close of business on Friday but moved to trade at Y 77.99 by the end of the day on Monday.
The Tuesday trading day saw the US dollar fall again. This came as information out as reports indicated that US consumer confidence was strong. This pushed the US stock market higher as well. However, trade during the day's session remained low, due to the holiday week. The US dollar index moved the currency to 79.792 by the end of the trading in North America. This was a drop of about .03 percent for the day. The euro moved to trade at US $1.3074 for the day. The European markets remained closed for the day, though. The US dollar bought Y 77.85 for the day.
The Wednesday trading session saw the US dollar move up for the day. The euro managed to fall to the lowest level it has been at since September of 2010. The stock market in the US also lost significantly. All of this stems from the European Central Bank's release of data. The US dollar index moved to trade at 80.526 for the day. The euro slipped to US $1.2938 for the day. The US dollar bought Y 77.95.
Thursday brought with it more improvement of the US dollar as investors turned away from risk. The US dollar pushed the euro to the lowest level it has been at since 2000 against the Japanese yen as well. The euro did manage to recover from the lowest level it has been at in 11 years against the yen, but continued fear in the markets plays a role. The euro moved to trade at US $1.2949 for the day. The euro moved to trade at Y 100.54. The US dollar index moved the currency to 80.425 for the day. Much of the loss comes from data about borrowing costs falling to euro-era highs. The upswing in the US economy continues to help investors, though.
The Friday session saw investors moving to buy the US dollar. The euro fell 3.4 percent for the year against the US dollar. The Japanese yen continued to be the strongest role player in the market in terms of gains throughout the year. However, the US dollar index moved the US dollar up 1.6 percent for the year. It also gained in 2010, with the dollar closing out at 80.289 for the day. The euro moved to trade at US $1.2996 by the end of the session. The US dollar feel to Y 76.99 for the day.
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The Monday trading session saw the US dollar improve during the day against most rival currencies. The euro did fall. This came after the European Central Bank's president made comments that were less than impressive. The European Union finance minister did not provide any good outlook for the euro zone that was considered aggressive enough. As a result, the US dollar index moved from 80.126 at the close of business on Friday in North America to 80.374 for the day on Monday. The euro moved to trade at US $1.3030 at the close of business on Friday and moved to trade at US $1.2997 by the end of the day on Monday. The Japanese yen moved from Y 77.82 at the close on Friday to Y 78.03 by the end of the day on Monday.
The Tuesday session brought with it some improvement for the euro. The US dollar fell during the session as investors were more encouraged by positive housing data out of the United States. This helped to bolster the numbers for stocks and commodities, which in turn pushed the currency markets towards more risk. Risk seemed like a good thing during the day's trading session. The US dollar index moved to trade at 79.871 by the end of the session. The euro moved to trade at US $ 1.3079 by the end of the day's trading. The US dollar bought Y 77.90 by the end of the day.
More risk aversion occurred during the Wednesday trading session as the euro took a step back from the increases it saw the previous day. The European Central Bank announced during the day that the first long term lending program brought with it strong demand from euro zone nations, indicating how much trouble numerous nations in the region are struggling under. The euro moved to trade at US $1.3198 for the day by the close in New York. The US dollar index moved to trade at 79.999 by the end of the trading session. The US dollar bought Y 78.10 by the end of the day.
The day's focus was on the euro which managed to hold near the psychological point of US $1.30 during the day. The US stocks improved and this pushed currency investors to take on a more positive outlook, taking on some of the risk in the market. The euro managed to move to US $ 1.3053 for the day. The US dollar index moved to trade at 79.929 by the end of the day. The US dollar bought Y 78.19 as well.
Risk gripped the market on Friday. The US dollar moved up after Italy's 10 year yields topped at seven percent. This made many investors worry that the country was in need of a financial bailout as well. However, there was some speculation that the markets were simply under volume due to the holidays. The US dollar index closed the week at 79.990. The euro moved to trade at US $1.3047. The US dollar bought Y 78.03.
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The day of currency trading focused on the US dollar gaining against most major currencies. The euro took yet another hit, falling to the lowest level it has been at in the last two weeks. This comes directly from the new fears in the market that European leaders still are not taking the steps necessary to improve the debt crisis. Investors moved to the perceived safety of the US dollar as a precaution. The euro moved from US $1.3370 at the close of business in New York on Friday to US $ 1.3188 by the end of the session on Monday. During the day, it feel as low as US $1.3177. The US dollar index moved the currency from 78.622 on Friday to 79.533 by the end of the Monday session. The US dollar improved against the Japanese yen. It moved from Y 77.50 on Friday to Y 77.96 by the end of Monday's session.
Tuesday brought the euro to a new low against the US dollar. The euro fell as the United States stock and bond yields also took a hit. These came after an announcement from the US Federal Reserve that indicated that the US economy is expanding and it is doing so at a moderate level. However, the unemployment rate feel only slightly, which was not what investors wanted to hear. The euro moved to trade at US $1.3026 for the day. The US dollar index moved to trade at 80.303 by late in the day trading. The Us dollar moved to buy Y 77.97 by the end of the session.
On Wednesday, the euro fell even more so. It fell to under US $1.30 during the day. This is the lowest level the currency has been at since January. This came after Italy's borrowing costs soared during the session at a bond auction. This further pushed investors to worry about the health of the financial sector in the euro zone. There is nothing more than uncertainty pushing the markets, experts indicate. The euro moved to end the day at US $1.2986 for the day. The US dollar index moved the US dollar to 80.538 for the session. The US dollar purchased Y 78.08 for the day.
On Thursday, there was some pull back of the US dollar against the euro. The euro gained during the early portion of the day after positive data out of Europe and the US indicated improvements in the economies. The sale of Spanish debt went well, too. The day ended with the US dollar index at 80.292 for the day. The euro moved up to US $1.3022, still well under where it was at the start of the week.
The US fell slightly on Friday to trade lower than earlier in the week. Investors were looking and gauging the movements of the euro zone. However, there was also news of possible downgrades of credit ratings which concerned investors. The euro did manage to trade slightly higher moving above the US $1.30 threshold. It would end the week at US $ 1.3030. The US dollar index moved the currency to 80.216. The US dollar bought Y 77.82 for the day.
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The Monday trading session saw the euro turn lower after continued worries about European ratings across the area. A report out by the afternoon session indicated that credit rating agency Standards and poor was warning AAA members in the European Union that their credit rating may be slashed in the weeks or months ahead. The euro did move higher earlier in the day's session after German Chancellor Angela Merkel and the French President, Nicolas Sarkozy provided information about a planned overhaul of European Union treaties. This would place tighter fiscal rules in place for member nations. The euro moved from US $1.3409 at the end of the trading session on Friday in North American to US $1.3386 by the end of the Monday session. The US dollar index moved from 78.609 on Friday to 78.654 by the end of Monday session. The US dollar moved to buy Y 78.03 on Friday and Y 77.80 on Monday.
The Tuesday session saw the US dollar fall lower for the day as the euro seemed to improve. Investors pushed the risks during the session in the positive vibes coming from the summit of European Leaders planned for later in the week. This pushed the euro to a slight lift during the afternoon trading sessions, especially after one report indicated that the European Union could be planning to double the size of the bailout plan in place. The euro moved to trade at US $1.3416 by the end of the day. The US dollar index moved to 78.498 for the day. The US dollar moved to by 77.75 yen by the end of the session.
Wednesday saw the push back of the euro as the US dollar improved due to risk aversion. Investors did not like the report out from Germany rejecting the latest proposal to improve the bail out of the European Union's members to a larger than previously agreed amount. This also pushed investors to safety with the increasing risk that there could be further financial troubles on the horizon. The euro moved to trade at US 41.3405 by the end of the session. The US dollar index moved to 78.470. The US dollar moved to buy Y 77.68 for the day, slightly lower.
On Thursday, the euro took another hit. This came after the European Central Bank noted that it would not be expanding its bond purchase plan that many hoped for to help distressed European countries. This pushed risk to the forefront once again. It sent the euro to trade at US $1.3347 for the day. This came after the central bank cut its key lending rate to one percent, which was a quarter percentage point. The US dollar index moved to 78.789 for the day. Against the US dollar, the Japanese yen moved to trade at Y 77.67 for the day.
On Friday, things changed as the US dollar fell. This came after the European leaders seemed to come together on improving fiscal concerns. Fiscal ties and other measures could help to stem the unions continued debt problems. The US dollar index moved to 78.622. The euro moved to trade at US $1.3370. The US dollar moved to buy 77.50.
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The Monday currency trading session began the week with the euro gaining as renewed hope in the European financial sector grew. The dollar, as a result, moves lower as investors take on more of the risk than in previous weeks. More so, Fitch Ratings came into the picture during the later day's trading and lowered its outlook on the US economy. That did not stop the euro from performing, though. The euro moved from US $1.3224 at the end of the Friday trading session in New York to US $1.3307 for the day on Monday. The US dollar index moved the currency from 79.688 at the close of business on Friday to 79.236 by the close on Monday. The US dollar moved to buy Y 77.405 on Friday but by the end of the Monday session moved to Y 77.99.
The Tuesday session saw the euro fall back, after rising earlier in the trading day. This came as the European Union again took center stage as if was not able to offset the bond purchased made. This allowed the US dollar to remain soft. Investors were too busy worried about the European debt throughout the session. The euro moved to trade at US $1.3329 for the day, though it managed to move as high as US $1.34 during the day. The US dollar index moved to trade at 78.990 for the day. The US dollar bought Y 77.85 by the end of the session.
The US dollar fell significantly during the Wednesday currency trading session against most currencies. It did manage to pare some of the losses later in the trading session. This happened as many of the world's largest banks moved to make cuts in borrowing costs for other banks. This pushed the euro to trade at US $1.3446 for the day. It managed to reach as high as US $1.3532 during the trading session. That is the highest it has touched in the last two weeks. The US dollar index closed the day in North America at 78.345, a drop. The US dollar bought Y 77.53 by the end of the session.
Another day of the US dollar down occurred during the early portion of the trading day but it did manage to come back some. It lost ground as the United States stocks managed to retreat during the day. More so, the European bond yields fell as the auctions in both France and Spain were well received by investors. This pushed the US dollar index to 78.293 for the day. The euro moved to trade at US $1.3467, though it managed to again top US $1.35 during the day's session. The US dollar bought Y 77.72 by the end of the day.
Worry was on the minds of investors during the Friday session. The US dollar improved as investors sought safer ground during the day's trading. There are important meetings scheduled for the next week throughout Europe that could prompt significant changes in the market. This encouraged investors to move to unwind big positions. The US dollar index ended the week at 78.609. The euro moved to US $1.3409. The US dollar bought Y 78.03.
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The Monday currency trading session started with the US dollar starting the day at a high against many of its rivals, prior to being pared down. This came after the announcement that the US lawmaking group in charge of putting together a plan to cut down the spending and debt in the country failed. The euro moved from US $1.3510 at the end of the trading session on Friday in North America to close the day at US $1.3503, though it managed to fall as low as US $1.3429 during the session. The US dollar index moved from 78.098 at the end of the session on Friday to 78.267 by the end of the Monday session. The US dollar moved to buy Y 76.97 by the end of the day, from Y 76.96 on Friday.
The day was an event where the euro managed to fluctuate significantly between gains and losses. The International Monetary Fund provided some cause as it released new tools to help improve the liquidity and the financing of some of the member countries. This was a move meant to help improve the debt crisis in Europe. However, US growth seemed to stall out in the latest report, pushing investors to safer ground with the US currency. The US dollar index moved to trade at 78.252 by the end of the session. The euro moved to trade at US $1.3513. The US dollar bought Y 77. The day's trading was seen as a process of avoiding losses, as investors played the safe card throughout much of the day, especially after the US news.
The Wednesday trading session brought the US dollar to mostly positive territory. The day's session also brought the euro down to the lowest level it has been at in nearly six weeks. This, too, was a risk aversion method by investors who were troubled by a report out that indicated that a German bond auction performed poorly. This put more fear back into the hands of investors who remain concerned about the European Union's fragile debt crisis. For the day, the euro moved to trade at US $1.3334 which is a drop from the previous day. The US dollar index moved to 79.09 for the day. Against the yen, the US dollar bought Y 77.31 for the day.
Due to the Thanksgiving holiday in the United States, the markets were closed for the day in the US on Thursday. The Friday session started out with the US dollar rising against most of its rivals. Investors were selling off the euro in heavy numbers after a meeting of the leaders of the continent's largest economies came together. The meeting, headed by the three largest economies in Europe did not produce any near term solutions to the regions continuously worsening debt crisis. This worried investors back to the safe haven of the US dollar. The euro fell for a totally of .7 percent for the day to close at US $1.3224 by the end of the session. The US dollar index moved to trade at 79.688. The US dollar moved to buy Y 77.405 by the end of the day as well.
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The Monday trading session began with the Euro declining after the results of the Italian bond sale. The US dollar improved against the common currency when the sale of five-year bonds was the highest cost since 1997. Traders are concerned about the new government in the country and the challenges it is facing due to debt concerns. This pushed investors to move back to the US currency for its perceived strength. The euro moved from US $1.3745 at the end of the trading session in North America on Friday to US $1.3620 by the end of the Monday session. The US dollar index moved to trade at 77.532 which is up from the 76.947 point it was at on Friday. The US dollar moved from Y 77.17 on Friday to trade at Y 77.14 on Monday.
The US dollar has another up day at the euro falls on concerns over the borrowing costs associated with Italy, mostly from the result of a sale of Italian bonds yesterday. Costs are also up in Spain and other key members of the euro zone. This undercuts the investments investors are making and therefore pulls them away from the higher risk investments including the euro. As a result, the euro move to trade at US $1.3528 by the end of the North American trading session. The US dollar index pushed the currency further to 77.950 by the end of the session. The US dollar moved to trade at Y 77.08 for the day.
The Wednesday trading session saw the euro reverse its falling course only to fall below the US $1.35 mark. The fall in the value of the currency came after credit agency Fitch reported that the euro zone's debt crisis is having a negative effect on the US banking sector. Concerns over Greece, Portugal, Spain, Italy and Ireland remain a focus and investors sought higher and safer ground in the US dollar as a result. More so, the agency warned that unless steps were taking to work out euro zone concerns, the credit outlook for the US banks will fall. The euro moved to trade at US $1.3466 for the day. The US dollar index moved the currency to 78.261. The US dollar also moved to trade at Y 77.04.
The Thursday trading session saw the US dollar pare losses as the euro did manage to trade under the key point of US $1.35. Investors remain concerned about the risk affecting the euro zone throughout the day. Spain's debt problems were the focal point of the session. This moved the euro to trade at US $1.3458 for the day. The US dollar index moved the dollar to trade at 78.298 for the day. The US dollar traded at Y 76.97 as well.
The Friday trading session saw the US dollar fall slightly to the euro. The weaker dollar came as further reaction in the markets occurred as a result of European officials discussing a plan that would help to loan out money to the International Monetary Fund from the European Central Bank. The goal would be to help finance the various bailouts numerous euro zone countries continue to need. The euro managed to trade above US $1.36 during the day, but ended the day at US $1.3512 in North American trading. The US dollar index moved the currency to trade at 78.098. Against the Japanese currency, the US dollar was little changed at Y 79.96, a slight change from the previous day.
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The Monday trading session brought with it the US dollar losing many of its gains from the previous week. The Monday session was volatile, with worries about Italy, the European Union's new big concern, worried investors. Italy's ability to fund its needs concerned investors while Greece's situation seemed to provide some relief. There, political parties were moving towards a solution that seemed to be encouraging news that the country would be pushing through with the plan to use the international bailout funds put into place. The euro moved to trade at US $1.3771 by the end of the North American trading session which is an improvement from US $ 1.3770 it was at on Friday. The US dollar index moved the currency from 76.984 on Friday to 77.974 by the end of the Monday session. The US dollar moved to trade at Y 78.07 against the Japanese currency, a change from Y 78.17 on Friday.
The Tuesday session saw the US dollar fall against the euro after reports indicated that the Italian Prime Minister was resigning his seat after the 2012 budget is approved. Investors are concerned about what the signaling of a loss of confidence in the prime minister could mean for the country's growing financial problems. The US dollar index moved to 76.620 by the end of the session. The euro moved to trade at US $1.3785 by the end of the day's session. The US dollar moved to trade at Y 77.71 by the end of the session. This could lead to another intervention by the Japanese authorities as well.
The Wednesday trading session brought the euro to the ground, with one of the largest falls against the US dollar for the year. This came after Italian government bond yields surged for the day. This brought fears into the market that the euro zone's third largest economy was struggling and may need a bailout. Investors who did not want to take on the risk moved to the perceived safety of the US dollar. This pushed the euro to US $1.3553 for the day, giving it a more than two percent drop for the day, which marks the fourth time this year that the currency has fallen by that much in a single session. The US dollar index moved to trade at 77.885 for the day. The US dollar moved to trade at Y 77.87 for the day.
The Thursday session saw the US dollar coming off the highs from the previous day. This came after the euro found some stability. Investors hoped that the Italian lawmakers would move quickly to put in place economic reforms that would keep it from hitting rock bottom. The euro moved to trade at US 41.3604 for the day. The US dollar index moved to trade at 77.660 for the day, while the US dollar moved to trade at Y 77.67.
The Friday session brought the US dollar falling against most of its rivals. The euro managed to improve again for the day. The Italian Senate moved to approve a new budget law that would help to ensure that the current Prime Minister of the country, who is believed to have lost the confidence of the people, to resign as he promised. The bill provides austerity measures is likely to pass the lower chamber over the weekend. The euro moved to end the week at US 1.3745, though it was still down .04 percent for the week. The US dollar index moved to trade at 76.947. The US dollar moved to trade at Y 77.17 for the day.
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The Monday trading session saw the US dollar jump though it did not manage to improve enough to have a positive October session. In addition, the Japanese financial ministers intervened in the markets to help pull down the yen's value, though the amount of the sale of yen on the market was not disclosed. This pushed the US dollar and the euro up against the yen. Worries amid the US policy makers and struggling economy continued to hold back the markets still. The US dollar moved from Y 75.77 in North American trading on Friday to Y 79.53 by the end of the session on Monday. The euro moved from US $1.4155 as of the close of business Friday to US $1.3908 by the end of the Monday session. The US dollar index moved from 75.063 at the end of the Friday session to 76.243 for the day.
The Tuesday trading session saw the euro fall to the lowest levels it has been at in the last month. This came as the Greek prime minister decided to seek a referendum on the Greece bailout. This caused a surge of fears in the markets again, all due to the worries that the European debt crisis was still a problem that did not have a solution. The worry investors have is that the financial crisis will spin out of control. As a result, the euro moved to trade at US $1.3712 by the end of the North American trading session. The US dollar index moved to trade at 77.298 by the end of the session. The US dollar moved to trade at Y 78.34 by the end of the session.
The Wednesday session saw the US dollar pare its losses against many currencies after reports indicated the international bailout funds put into place for Greece will be held up until after the Greeks referendum vote occurred. This referendum was brought up by the Greek government just this week. In addition, the Federal Reserve in the US added to the mix as it sounded less worried than it had and less likely to further ease monetary policy. The US dollar index moved the currency to 77.096 by the end of the day. The euro moved to trade at US $1.3745. The US dollar moved to trade at Y 78.10 by the end of the session.
During the trading session on Thursday, the euro managed a rebound from its negative position though it did not add enough. It remained for the day well off the highs against the US dollar. Investors remained cautious and concerned about the Greek financial crisis, including reports that the country was planning to abandon its plans to hold a referendum on the financial package put into place for the country, one which the country originally agreed to. In addition, added risk was added to the market when the new European Central Bank President noted that the European economy was still in poor condition. The euro moved to trade at US $1.3839 for the day. The US dollar index moved to trade at 76.645 for the day as well. The Japanese currency traded at Y 78.06 against the US dollar.
The Friday trading session saw the US dollar improve against euro as all attention turned back to the European financial situation. A report out of the US payrolls did not provide any positive or negative information. The euro moved to trade at US $1.3770. The US dollar index moved to trade at 76.984 for the day. The US dollar moved to trade at Y 78.17 for the day.
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The Monday currency trading session started with the US dollar falling to the lowest level it has been at since the early portion of September against the euro. This came in after a report indicated that Germany is willing to leverage the bailout fund for the European Union to the level of up to one trillion euros, equivalent to US $1.39 trillion. Additionally, the Japanese banks promised to intervene as the yen took to improve for the day against the US dollar, keeping the US dollar near record lows. The euro moved from US $1.3865 in North American trading at the end of the Friday session to US $1.3934 by the end of the Monday session. The US dollar index moved the currency from 76.404 on Friday to 76.082 by the end of Monday. The US dollar moved from Y 76.17 on Friday to Y 76.06.
The Tuesday session saw improvement in the US dollar with the US stock market weighing in heavily on the perceptions that investors are willing to take risks. Expectations were running high that during the Wednesday trading session, it was expected that a comprehensive response to the debt crisis plaguing the European Union was to be announced. This moved the US dollar index to 76.154 by the end of the North American trading session. The euro moved to trade at US $1.3921 for the day as well. Worry is still plaguing many of the investors who are unwilling to move into too much risk. The US dollar moved to trade at Y 75.92 for the day, down more so.
The Wednesday trading session saw the US dollar paring its gains against the European Union currency. This came after it set a fresh low against the yen during the day's trading. This happened as a few media reports came out prior to the end of the European Union's summit occurring during the day in Brussels. The euro moved to trade at US $1.3911, down for the day. The US dollar index moved to end the day at 76.207. The US dollar moved to trade at Y 76.19 for the day. At this point, the US dollar has fallen by 6.1 percent against the yen.
The Thursday session came with remarkable movement. The euro managed to jump during the day to the highest amount seen since March of 2009. It managed to reach as high as US $1.42 during the day, the highest it has been at since September. This came after the European Union leaders finally announced a plan that would help to curb Greek debt concerns and help to boost the euro zone bailout fund considerably. Though still controversial, the plan offered some relief to investors. The euro closed the day at US $1.3911 by the end of the North American session. The US dollar index moved the currency to 75.883 for the day. The US dollar moved to trade at Y 75.92 for the day.
The Friday session saw some of the euro's upward movement from Thursday fall back against the US dollar. This came as investors considered the plan closely. In addition, there was some worry that Asian investors would not get behind the plan, which provide a key indication of whether or not the euro would continue to improve. For the day, the euro moved to trade at US $1.4155 for the day. The US dollar index moved the currency to 75.063. The US dollar moved to trade at Y 75.77, to a record low.
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The Monday trading session bought investors back to the market with a focus on the rising value of the dollar over the euro. The US dollar improved against many of its competitors. This came after Angela Merkel's spokesperson played down the likelihood that the European leaders will have worked out a solution to the euro zone debt problems by the coming weekend when a summit is occurring. The US dollar index moved the currency from a position of 76.645 at the end of the Friday trading session in New York to 77.162 by the end of the Monday session. The euro moved from US $1.3875 on Friday to US $1.3741 by the end of Monday. The US dollar moved to Y 77.25 on Friday and moved to trade at 76.81 by the end of the Monday session.
The Tuesday trading session turned the US dollar down against the euro. This came after reports indicated the both Germany and France had agreed to provide a two trillion euro rescue fund that would be a likely part of the comprehensive debt resolution plan that would help to stem the current debt concerns plaguing the euro zone. This pushed the US stock market higher and helped to encourage currency investors to move towards more risk. The euro moved up to US $1.361 in morning trading but settled for the day at US $1.3802 in North American trading. the US dollar index moved the currency to 76.915 for the day. The US dollar moved to trade at Y 76.83 for the day as well.
Just as they came they went as the Wednesday trading session brought with it a drop in the euro's value during the day's session. The day was choppy with concerns still focused on the European debt crisis. Numerous experts debated what could happen and what was likely and yet there was no decision made that seemed to provide a relief to the anxieties investors were dealing with. This managed to push the euro to US $1.3745 for the day, which was still slightly up after an up and down session. The US dollar index moved the currency to 77.152 though it hit a low of 76.574 during the day's trading. The US dollar moved to trade at Y 76.79 for the day.
The Thursday trading session brought with it an opportunity for the euro to edge up just slightly during most of the day's trading. The day's session was very erratic as investors looked for information and most traders did not find any benefit in the European leaders' movements to help reduce the euro zoen debt crisis concern levels. Both Germany and France released a statement during the day noting that no final decision would occur until the summit occurring over the upcoming weekend. The euro moved to trade at US $1.3773 by the end of the day while the US dollar index moved the currency to 76.982. The US dollar moved to trade at Y 76.85 as well.
The final day of the week saw the US dollar fall against the euro and most other competitors while also hitting a record low against the yen. The markets seemed to be seeing an unwinding of positions after the market hit a key level. The euro managed to gain with the upcoming summit of the European Leaders scheduled for the day. The US dollar moved to trade at Y 75.76 for the day. The US dollar index moved to 76.404. Against the euro, the currency moved to US $1.3865 for the day.
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