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ECB chief: Financial system must change
European Central Bank President Jean-Claude Trichet said on Friday that the financial markets are experiencing an ”ongoing correction” and declined to
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Weak or strong, euro remains unloved
When the newly created euro slumped to an all-time low in 2000, detractors lined up to predict a dark future for the young currency. The euro marks its ninth birthday on January 1, with detractors now warning of grave consequences on account of its strength.
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Euro resumes record-setting run
The euro resumed its record-setting run against the dollar on Tuesday, climbing to ,4153 after a pair of economic reports painted a dismal picture for United States consumers and the ailing home sales market. The strength of the euro drew concern, with Spain’s finance minister warning of problems.
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Dollar sinks to record low against euro
The dollar plunged to a record low against the euro on Wednesday as an expected interest-rate cut next week from the Federal Reserve has dampened the United States currency’s appeal. The dollar also dropped to a fresh 15-year trough against a basket of currencies.
