The dollar hit an 11-year high against a basket of major currencies on Monday, with the greenback gaining a broad lift after an interest rate cut in China dented the Chinese yuan and emerging Asian currencies.
The dollar rose to a
ECB chief Mario Draghi's 1 trillion ($1.1 trillion) euros of fresh money could prove the masterstroke that saves the euro zone for now, but it breaks the principle that the bloc acts as one, a move that could ultimately undermine the currenc
The European Central Bank (ECB) faces a crucial test of its resolve to do "whatever it takes" to preserve the euro when it decides this week on buying government bonds to combat deflation and revive the economy.
The EU t
The European Central Bank (ECB) laid out plans on to buy rebundled packets of debt within weeks to shore up the flagging euro zone economy and its president said the bank would do more if needed.
It was, nonetheless, one of the la
The euro came close to cracking on Wednesday as feverish speculation of further policy stimulus in the euro zone drove bond yields to all-time lows and lifted Asian stocks to peaks not seen in almost seven years.
Banks cut 5,500 branches across the European Union last year, 2.5 percent of the total, leaving the region with 20,000 fewer outlets than it had when the financial industry was plunged into crisis in 2008.
Last year's cuts com
Brent crude held below $103 a barrel on Friday, retaining most of its steep gains from the previous session, when an interest rate cut by the European Central Bank boosted investors' appetite for riskier assets.
The decision c
Gold hit a 10-month trough below $1,540 an ounce on Thursday as the dollar strengthened ahead of a statement by European Central Bank chief Mario Draghi, after the bank left rates on hold as expected at its latest policy meetin
Europe clinched a deal on Thursday to give the European Central Bank new powers to supervise euro zone banks from 2014, embarking on the first step in a new phase of closer integration to help underpin the euro.
European Union leaders took a big stride towards establishing a single banking supervisor for the euro zone, agreeing it would enter into force next year, opening the way for the bloc's rescue fund to inject capital directl