dollar

U.S. Manufacturing Output Rises 0.5%, the Most Since July

The nation%u2019s manufacturing recovery accelerated in October as factory output jumped 0.5%, the Federal Reserve said. Overall industrial output was flat in the month, but the typical autumn plunge in utilities output skewed the top-line stat lower.

It's Time for a New Reserve Currency: Meet the Mondo

For a host of reasons, other countries would love to free their economies from the stranglehold of the U.S. dollar's influence, especially now, when the Fed's stimulus actions are pushing the dollar lower, and everything else higher. Global finance expert Peter Cohan has a simple answer: The Mondo.

Why Asian Nations Hate QE2, and What They Should Do

As the G-20 meets in South Korea, many world leaders have stepped up their complaints about the Fed's $600 billion quantitative easing program, as well as the rapid flow of capital into emerging markets. Some countries are installing capital controls in response, but those won't be enough, says global finance expert Peter Cohan.

G-20 Leaders Criticize Fed's $600 Billion QE2 Stimulus

The U.S. finds itself on the wrong side of the currency manipulation argument this week, as many G20 countries criticize the Fed's $600 billion bond buying plan, which could further devalue the dollar. World leaders say the move breaks the vow of unity made during the last G-20 summit.

China, Germany Criticize U.S. Quantitative Easing

China and Germany, the world%u2019s second-largest and fourth-largest economies respectively, expressed concern about Federal Reserve plans to pump $600 billion into the U.S. economy. The Fed announced plans to buy $600 billion of assets earlier this week. The Fed hopes that the move, known as quantitative easing, will help boost the U.S. economy and lower unemployment.

As the Dollar Sinks, Prices of Essentials Soar

Intended or not, the Fed's quantitative easing policies are destroying the dollar's value. And that in turn is pushing prices of commodities that Americans need -- such as instance food, cotton and oil -- ever higher. And that hurts companies as well as consumers.

Asian Markets Are Mixed as Investors Eye U.S. Elections

In Asia on Tuesday, Hong Kong's Hang Seng Index rose 0.1%, China's Shanghai Composite inched down 0.3%. and in Japan, the Nikkei 225 crept up 0.1%. Investors are closely monitoring the U.S. midterm elections, with many predicting that if the Democrats lose their majorities in both the House and the Senate, the dollar will continue to slide.

As the Dollar Weakens, Commodities Shine

Market watchers lately have loudly proclaimed the end of the dollar, which has left investors looking to stay ahead with a choice of betting on stocks, which have 17% fallen in the last decade, or staying "safe" in very low-yield money market funds. But there is an alternative: Commodities.

Geithner: U.S. Won't Devalue the Dollar to Boost Exports

The U.S. will not weaken the dollar in order to boost its exports, Treasury Secretary Timothy Geithner promised. "It is not going to happen in this country," Geithner told Silicon Valley business leaders of devaluing the dollar, according to Reuters.

Some OPEC Members Push for $100 a Barrel Oil

Some OPEC members want oil prices to rise to $100 a barrel to offset the decline in the dollar. The value of the dollar, which has slipped 13% since June against major world currencies, means that the "real price" of oil is about $20 less than current levels, Venezuela%u2019s Energy and Oil Minister Rafael Ramirez said after Thursday%u2019s OPEC meeting in Vienna.

Buffett Warns That Euro Faces a 'Real Challenge'

The euro has posted its biggest quarterly gain in eight years, but billionaire investment guru Warren Buffett is worried about Europe's common currency. Despite the E.U.'s trillion-dollar bailout fund, he's not sure the Continent will be able to avert a sovereign debt meltdown.

U.S. Dollar Trades Near 8-Month Low on Fed Bets

The U.S. dollar traded near an eight-month low against the euro on bets that the Federal Reserve will signal it is willing to buy more government debt in order to stimulate the economy. The U.S. dollar traded at $1.3940 per euro as of 11:08 a.m. in London, Bloomberg News reported. It fell to $1.4012 earlier today and reached $1.4029 on Oct. 7, the weakest since Jan. 28.

Why Easing the Threat of Currency War Is So Difficult

Investors take note: Despite the calls for order, national policymakers are dealing with an increasingly haphazard scenario loaded with counterproductive results and unintended consequences. The result could be a slide toward protectionism.

Will the Export Economy Spark a Currency War?

Countries from Japan to Brazil and Mexico to Malaysia are trying to intervene in currency markets to alter the value of their currency. The widespread dependence on exports is the prime reason for these moves, which can be tricky and even backfire.

Gold Prices Hit Record High Following Fed Meeting

Gold prices jumped to record highs Wednesday after the Federal Reserve signaled it is willing to boost its stimulus measures. The price of bullion reached a new record of $1,294.95 an ounce, before slipping to $1,293.10 an ounce, Reuters reported.

Yuan Hits High Vs. the Dollar as China Nudges Exchange Peg

The Chinese yuan hit a post-revaluation high against the dollar Monday after the People's Bank of China set the yuan's reference rate for trading at its highest level since the central bank began publishing the daily fix in 1994. The yuan can rise or fall 0.5% each day from the reference point.

Ford Sees an Expanding Global Car Market

"We see the economy improving, but the strength of the recovery in individual markets has been uneven," said John Fleming, head of Ford's global manufacturing in London on Thursday. He said demand could rise by as much as 10%.

Geithner: China Should Let Yuan Appreciate Faster

Treasury Secretary Timothy Geithner said that China should let its yuan currency appreciate faster to demonstrate that the country is willing to follow through on promises to its trading partners. "Frankly they haven%u2019t let the currency move very much so far," Geithner told Bloomberg News. "They know they%u2019re just at the beginning of that process and I think we%u2019d like to see them move more quickly."

Yen Gains to 15-Year High Against U.S. Dollar

The yen strengthened to a 15-year high against the U.S. dollar as investors bet against the country%u2019s policy to limit the gains in the currency. The yen strengthened to 83.34 per dollar, compared to 83.80 late Tuesday, The Wall Street Journal reported.

Man nabbed with fake $1 million bills

Hey, can you break these really authentic looking $1 million bills? A woman in the United Arab Emirates fell for a scam in which a man convinced...

Bank of Japan Mulls Action on Rising Yen

The yen eased down a bit on Wednesday from the 15-year and nine-year highs it set Tuesday against the dollar and the euro respectively, with the market watching for possible intervention from Tokyo to curb the currency's rise, which threatens Japan's fragile economic recovery.

China Won't Let Yuan Float So Freely After All

Last month, China said it would loosen the tight link between its currency, the yuan, and the U.S. dollar. It was a move welcomed by economists and world leaders who felt China was engaging in unfair currency manipulation. But on Wednesday, the government in Beijing backpedaled a bit.

Dow Reclaims 10,000, Powered by Financial Stocks

The major averages rallied sharply Wednesday with the blue-chip Dow closing up 274 points, fueled by a rosier earnings forecast from money manager State Street Corp. and anticipation of strong monthly retail sales reports on Thursday.

China's Currency Move Means Hard Decisions Ahead

If you think China's decision to unpeg its currency from the U.S. dollar was a good move for both countries, Gary Shilling says don't believe it. The economist who saw the subprime crisis coming warms that the move isn't what it appears to be, and says it will have a number of unintended consequences.

What to Watch in China: Will the Yuan Appreciate?

If you want to know what Beijing really believes about China's red-hot economy, its real estate market or the state of the global recovery, forget the numbers that the government can manipulate. Look at whether it allows China's currency to rise against the dollar.

Dow Jumps 273 Points on Global Growth Prospects

The Dow jumped more than 270 points to close solidly above 10,000 Thursday as encouraging economic data out of China and a soothing growth forecast from the European Central Bank once again whetted traders' appetite for risk. The dollar, Treasurys and gold fell, while oil prices topped $75 a barrel for the first time in nearly a month.

Econ Note: Geithner Says China Must Reform Currency Policy

Treasury Secretary Timothy Geithner told lawmakers Thursday China is making progress in addressing U.S. concerns over the glaring trade imbalance between the countries, but much works remains to be done to promote a level playing field between the nations.