Euro rises to $1.4251 in European morning trading
FRANKFURT — The euro rose against the dollar Thursday as U.S. companies reported mixed earnings, while the Federal Reserve cautioned the recovery will be gradual because of rising unemployment. On the whole, the news continued to drive investors from the safety of the dollar.
The 16-nation euro rose to $1.4251 in European morning trading, up from the $1.4228 late Wednesday in New York.
The British pound bought $1.6492 compared with the $1.6464 the night before.
On Wednesday, Federal Reserve Chairman Ben Bernanke, speaking in front of the Senate Banking Committee in his two-day address to Congress, warned that high unemployment is “the most pressing issue” as the country tries to dig out from its longest recession since World War II.
James Hughes, an analyst with CMC Markets in London, said weekly U.S. jobless figures could weigh on the dollar further given “Bernanke’s admission that the economic recovery depends on the employment situation improving we are likely to see these scrutinized more than usual.”
Meanwhile, U.S. earnings delivered mixed news. Apple Inc. and Starbucks Inc. jumped after beating analysts’ estimates, but chip maker Advanced Micro Devices Inc. and major bank Wells Fargo & Co. fell after reporting disappointing numbers.
Overall gains in equity markets have fueled a fall in the dollar lately, as investors move funds away from the safety of the U.S. currency in favor of riskier bets elsewhere.
In other trading, the dollar bought 94.32 Japanese yen, from 93.59 yen late Wednesday in New York.
Related News
Dollar falls to annual low vs euro despite J&J earnings, dip in German investor confidenceOctober 13th, 2009 Dollar falls to annual low against the euroNEW YORK — The dollar fell to an annual low against the euro Tuesday after a dip in German investor confidence and disappointing earnings results failed to undermine expectations of economic recovery. Traders have been leaving the safety of the dollar in recent weeks amid increasing hints of an economic turnaround.
Dollar falls versus euro, rises against pound as earnings season kicks off this weekOctober 12th, 2009 Dollar mixed as earnings season kicks offNEW YORK — The dollar was mixed Monday as investors looked ahead to third-quarter earnings reports for more clues on the state of the global economy. The 16-nation euro inched up to $1.4776 in late New York trading from the $1.4709 it bought late Friday.
Stocks mixed in early trading as dollar strengthens; investors await start of earnings seasonOctober 7th, 2009 Stocks mixed in early morning tradingNEW YORK — Stocks were mixed in morning trading Wednesday as investors await the kickoff of earnings season, and as the dollar strengthened. Overseas stock markets were mixed as well.
US stocks mixed ahead of earnings reportsOctober 7th, 2009 NEW YORK - US stocks posted mixed results Wednesday as Wall Street braced for the start of the third-quarter earnings season in the US. Financial firms posted gains, but telecommunications companies were down on a light trading day in New York.
Dollar rises against euro, pound as flat personal incomes raise doubts about economic recoveryAugust 28th, 2009 Dollar rises on concerns about economic recoveryNEW YORK — The dollar edged higher against the euro and the pound Friday after a report showing flat household incomes raised doubts about an economic recovery, driving investors into the relative safety of the currency. The 16-nation euro fell to $1.4287 in late trading Friday from $1.4371, while the British pound bought $1.6269, compared with $1.6285 late Thursday.
US dollar mixed, gold lower in European morning tradingAugust 4th, 2009 US dollar mixed, gold lower in European tradingLONDON — The U.S. dollar was mixed against other major currencies in European trading Tuesday morning.
US dollar mostly higher, gold rises in European morning tradingJuly 23rd, 2009 US dollar mostly higher in European tradingLONDON — The U.S. dollar was mostly higher against other major currencies in European trading Thursday morning.
US dollar mixed, gold falls in European morning tradingJuly 22nd, 2009 US dollar mixed, gold falls in European tradingLONDON — The U.S. dollar was mixed against other major currencies in European trading Wednesday morning.
US dollar mixed, gold down in European afternoon tradingJuly 13th, 2009 US dollar mixed, gold down in European tradingLONDON — The U.S. dollar was mixed against other major currencies in European trading Friday morning.
Dollar mixed, gold down in European morning tradingJuly 13th, 2009 Dollar mixed, gold down in EuropeLONDON — The U.S. dollar was mixed against other currencies in European morning trading Monday.
US dollar, gold rise in European morning tradingJune 18th, 2009 US dollar rises in EuropeLONDON — The U.S. dollar was higher against other major currencies in European trading Thursday morning.
US dollar mixed, gold higher in European tradingJune 18th, 2009 US dollar mixed, gold higher in European tradingLONDON — The U.S. dollar was mixed against other major currencies in European trading Thursday.
US dollar higher, gold lower in European morning tradingJune 8th, 2009 US dollar rises in European tradingLONDON — The U.S. dollar was higher against other major currencies in European trading Monday morning.
US dollar mostly higher, gold rises in European morning tradingMay 11th, 2009 Dollar up, gold rises in morning tradingLONDON — The U.S. dollar was mostly higher against other major currencies in European trading Monday morning.
US dollar mixed, gold lower in European morning tradingApril 22nd, 2009 US dollar mixed in EuropeLONDON — The U.S. dollar was mixed against other major currencies in European trading Tuesday morning.
Loading ...