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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Euro climbs against greenback as Greece OKs bailout

Mar 21, 2012 07:56 AM

Signs of Greece's second bailout since June 2010 being on schedule propelled the value of the single currency of the European Union on Wednesday, Reuters reports.

As expected, leaders in the embattled Aegean nation approved the second phase of international aid, pushing up the value of the euro. But the dollar's strength during recent weeks minimized the embattled monetary unit's performance while two key euro zone nations fell under scrutiny.

"If U.S. data remains solid U.S. yields may continue to track higher, while Europe faces some risks to this euro strength from the Italian labor reform talks and continued poor economic news from Spain," FX head Christopher Gothard with Brown Brothers Harriman in Hong Kong told Reuters.

U.S. officials have downplayed the chances of additional asset purchasing, which would draw down the value of the U.S. dollar. Thus the world's reserve currency has grown in value against its counterpart currencies.

On Wednesday, the value of the euro rose against 14 of 16 counterpart currencies, according to Bloomberg. Germany, host of the region's largest economy, is set to release information on Thursday indicating the expansion of services and production by factories.

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