Canadian dollar opened at 93.37 cents US, down 0.14 of a cent
TORONTO - The Canadian dollar opened at 93.37 cents US, down 0.09 of a cent from Friday's close.The U.S. dollar stood at C$1.0710, up 0.71
In the United States we have a floating currency. The government cannot raise or lower the US Dollar exchange rate directly. It cannot raise or lower the conversion rate by decree, for example, by declaring that “As of noon tomorrow, all US banks will sell Euros or buy Japanese yen for exactly so many dollars and so many cents.” But the Federal Reserve can and does change the Funds rate. When they increase the rate, interest rates rise a bit all across the US banking system. This has the ripple effect of reducing the overall supply of dollars, which makes the US Dollar stronger against other world currencies. Having a low dollar to euro exchange rate, for example, may not be entirely a bad thing for all Americans. We know that it makes daily life expensive for American tourists in Paris or Rome who must convert dollars to euros before buying a croissant or getting opera tickets. But, a cheap dollar in Europe makes American cars more of a bargain for Europeans to buy. European companies might be more likely to choose an American consultant or software company, because the price in dollars is now very affordable in Germany or France. Currencies trading experts know that it's important to be following trends and staying alert for potential increases or decreases in the inflation rate and the shrinking or rising money supply.
US dollar firms amid eurozone debt worries
NEW YORK: The US dollar firmed against the euro on Monday as the embattled European single currency remained below pressure from worries about sovereign debts piled up by Greece and other bloc members.
Canadian dollar closes at 93.07 cents US, down 0.39 of a cent on Monday
TORONTO - The Canadian dollar closed at 93.07 cents US, down 0.39 of a cent on Monday.The U.S. dollar stood at 107.45 Cdn cents, up 0.45 of
FOREX: Ringgit Closes Firmer Against US Dollar
KUALA LUMPUR, Feb 8 (Bernama) -- The ringgit closed higher against the US dollar on Monday with investors shifting to riskier assets due to worries in the eurozone and lingering concerns about a global tax on banks.
US Dollar Ticks Up Sharply Against Majors
(RTTNews) - The US dollar staged a sharp gain against major currencies at around1:00 pm ET Monday. The greenback climbed to 1.0719 against the Swiss franc, 1.3476 versus the euro, 1.5618 versus the British pound, 1.0719 against the loonie and 0.8668 versus the Aussie at around 1:15 pm ET.
US Dollar, Japanese Yen May Extend Gains as G7 Disappoints on Greece Bailout
The US Dollar and Japanese Yen may extend gains against most major currencies after the G7 finance ministers did not announce plans to bail out Greece and other debt-ridden southern European economies, weighting further on risk appetite.
US Dollar Declines Against Major European Opponents
(RTTNews) - The US dollar traded lower against most major European opponents during New York morning trading on Monday. After a slight gain in early morning session, the greenback edged down against the euro in New York mid-day trading today.
US Dollar Rally to Continue This Week 02-08
The US dollar rally likely continues this week. The rally may even accelerate, especially against the Canadian dollar.
Forex Strategy Outlook: US Dollar Likely to Move Sharply Against Euro
Forex options markets volatility forecasts continue to trend higher, pointing to major moves in the US Dollar and other major currencies through the coming weeks’ trade. In fact, implied volatility levels on 3-month Euro/US Dollar options now trade close their highest levels since July, 2009 and underline market fears of continued volatility.
US markets open in red, dragged down by financials; Dollar and Yen, strong
FXstreet.com (Barcelona) - US markets have opened the week with moderate declines, with financial shares driving losses. In FX markets Dollar and Yen consolidate gains against Pound and Euro, which remain close to multi-month lows.