The Bank of England expanded its quantitative easing program by £25 billion, or $41 billion, to £200 billion on Thursday, continuing its unprecedented scheme to revive Britain's recession-hit economy.
The dollar and the yen gained broadly Thursday as the euro and perceived higher risk currencies succumbed to profit-taking ahead of a policy decision by the European Central Bank.
World stocks added to the previous week's losses on Monday, hugging one-month lows as investors pulled back from a more than seven month rally and prepared for the eventual withdrawal of stimulative monetary policy.
Eurozone interest rates were left unchanged on Thursday at the record low of 1 per cent, highlighting the European Central Bank's caution about the strength of the region's economic recovery.
A radical reshaping of Europe's patchy system of financial supervision moved a step closer on Wednesday when the European Commission unveiled legislation which officials hope will guard against a repeat of last year's financial crisis.
German unemployment fell unexpectedly in August, helped by government action to safeguard jobs, as the country's economic rebound left rival eurozone economies trailing.
The Bank of England expanded its quantitative easing program by £25 billion, or $41 billion, to £200 billion on Thursday, continuing its unprecedented scheme to revive Britain's recession-hit economy.
The dollar and the yen gained broadly Thursday as the euro and perceived higher risk currencies succumbed to profit-taking ahead of a policy decision by the European Central Bank.
World stocks added to the previous week's losses on Monday, hugging one-month lows as investors pulled back from a more than seven month rally and prepared for the eventual withdrawal of stimulative monetary policy.
Eurozone interest rates were left unchanged on Thursday at the record low of 1 per cent, highlighting the European Central Bank's caution about the strength of the region's economic recovery.
A radical reshaping of Europe's patchy system of financial supervision moved a step closer on Wednesday when the European Commission unveiled legislation which officials hope will guard against a repeat of last year's financial crisis.
German unemployment fell unexpectedly in August, helped by government action to safeguard jobs, as the country's economic rebound left rival eurozone economies trailing.
Wall Street will return for the first trading day of a new month Monday with the economic outlook still unclear and the bankruptcy of a major American business icon looming large.
Lounging amid the bruised plastic furniture and polyester carpeting at his dilapidated offices at Dublin Airport, Michael O'Leary, CEO of Ryanair, is ebullient about his low-cost carrier's prospects: "We'll mop the floor with every airline in Europe!"
The dollar rose against the euro Tuesday on negative European production data and ahead of a central bank meeting expected to slash rates to a record low.
The dollar and yen strengthened broadly Monday on rising risk aversion as concern grew that an outbreak of swine flu in Mexico could become a global pandemic, while the Mexican peso fell sharply.
The dollar was mixed Tuesday as the euro rebounded from a one-month low on a report that showed a much-bigger-than-expected increase in German investor confidence in April.
A Federal Reserve official tells CNN that the Fed has not ruled out the idea of having regular news conferences to discuss monetary policy and other issues.
The dollar rose against the euro and the pound Monday morning but fell versus the yen as global stocks dropped in response to renewed concerns about the U.S. automotive industry and banks.
The European Central Bank and the Bank of England both cut their key interest rates to historic lows on Thursday in a bid to revive their ailing economies.
The dollar rose against the euro and lost ground against the pound Thursday after the European Central Bank held interest rates steady and the Bank of England cut its key rate by half a percentage point.
The dollar was mixed Monday against other major currencies in advance of monetary policy announcements from a number of central banks due out later in the week.
The dollar gained against the euro Friday after a European Union report showed euro-zone inflation fell to a near-10 year low and unemployment in the region rose to a two-year high.
The U.S. dollar gained against the pound but fell against the euro and yen Thursday as investors were confronted with grim data from the housing and labor markets.
The dollar was mixed against rival currencies Thursday as concerns about the nation's banking sector vied with optimism surrounding the government's proposed economic stimulus program.
The dollar rallied against major currencies Tuesday as investors sought safety in the U.S. currency after Fed Chairman Ben Bernanke said Wall Street may need additional bailouts.
Slovakia became the first of the larger ex-communist EU members to join the European single currency on Thursday amid hope the move will provide stability in the global economic storm.
The dollar ticked lower against major European currencies Monday after the weekend's G-20 economic summit in Washington failed to impress currency investors.
The 15 countries that share the single European currency are in recession for the first time in the 10-year history of the eurozone, according to initial estimates the European Union said Friday.
The dollar rallied against the British pound and edged higher versus the euro and yen amid a growing feeling that European economies will weaken further.
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