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The dollar sank to a three-year low yesterday

Irish prices 11% higher for US tourists as dollar falls

Oil prices have surged after Israel launched an attack on Iran's nuclear programme with financial markets anxious over retaliatory action.

Business • 13 Jun

The US Treasury said Ireland, China, Japan, South Korea, Taiwan, Singapore, Vietnam, Germany and Switzerland were now on its monitoring list for extra foreign exchange scrutiny

Ireland, Switzerland added to US Treasury monitoring list

No major US trading partner manipulated its currency in 2024, the Treasury Department said in the first semi-annual currency report of President Donald Trump's new administration.

Business • 13 Jun

The dollar advanced against major peers after the employment report, but is still down for the year

Dollar slips after rally, focus shifts to US-China talks

The dollar slipped against all major currencies on Monday, as exuberance over an upbeat US employment report gave way to caution ahead of pivotal US-China trade talks set to take place in London later in the day.

Business • 09 Jun

European Central Bank chief Christine Lagarde

Euro could become the dollar's alternative, Lagarde says

The euro could become a viable alternative to the dollar, earning the 20-nation bloc immense benefits, if governments could only strengthen the bloc's financial and security architecture, ECB President Christine Lagarde said today.

Business • 26 May

Over $5 trillion in market value has vanished from the MSCI all-country index of world stocks during the roller-coaster ride since April 2

Ten trading days that shook financial markets

The 10 trading days since US President Donald Trump hit car makers with tariffs have been the most convulsive since the pandemic panic of 2020, as prices of stocks to bonds, oil, gold and even the US dollar itself have swung wildly.

Business • 11 Apr

The fallout from US tariffs continues to undermine the dollar's status as a safe haven in times of stress

Euro surges against dollar as US-China trade war rages

The dollar continued to tumble today, hitting its lowest in a decade against the Swiss franc and sending the euro above $1.14, as the fallout from US tariffs continued to undermine the dollar's status as a safe haven in times of stress.

Business • 11 Apr

Euro gains as Trump tariff fallout grips markets

Investors bought the euro and poured into safe havens such as the yen and Swiss franc today as the market rout from US President Donald Trump's sweeping tariffs deepened and fears of a global recession grew.

Business • 07 Apr

Wall Street fell sharply for a second straight session, pushing the Nasdaq toward a bear market

Shares sink as Trump tariffs unleash recession fears

European shares have slumped as China hit back with steep tariffs days after US President Donald Trump announced sweeping levies, intensifying fears of a global recession triggered by the trade war.

Business • 04 Apr

The euro rose nearly 1% to a two-week high of $1.0950 in early trade after US announced a raft of tariffs yesterday

Dollar slides as investors seek safe havens after tariffs

The dollar slid broadly today and the euro firmed after President Donald Trump announced harsher-than-expected tariffs against US trading partners, jolting the markets as investors sought safe havens such as the yen and Swiss franc.

Business • 03 Apr

The single currency is up nearly 3% this week - on track for its best week since November 2022

Euro rallies as Germany's debt overhaul boosts outlook

The euro extended its rally today and hovered at near four-month highs as Germany's proposed €500 billion infrastructure fund boosted Europe's growth prospects despite global trade tensions worrying investors.

Business • 05 Mar

The euro touched a one-month high of $1.0528 in earlier trade but later pared some of those gains to stand just 0.03% higher

Euro treads water as focus shifts to German govt talks

The euro steadied today after a brief rally following the election victory of Germany's conservatives as attention turned to how long coalition talks will take.

Business • 24 Feb

The euro is set for a 5.6% decline against the dollar this year, with traders expecting the European Central Bank to be sharper with its cuts than the Fed

Dollar stands tall in 2024, propped up by cautious Fed

The dollar slipped on the last trading day of the year today but was poised to clock strong gains in 2024 against almost all currencies as investors prepared for fewer US rate cuts and the incoming Trump administration.

Business • 31 Dec 24

The euro dipped over 1% at one point today to its lowest level since November 2022

Euro falls to two-year low after soft PMI data

The euro plunged to a two-year low today after data showed a tumble in euro zone business activity, and caused markets to up bets on ECB rate cuts, while bitcoin hit a record high just shy of $100,000.

Business • 22 Nov 24

The euro has slumped nearly 5% from more than one-year highs in September when a weakening economic outlook stopped it in its tracks

Explainer - Why is the euro falling and could it hit $1?

The euro has fallen to one-year lows, reviving talk the currency could hit the $1 mark. Donald Trump's US election win raises the prospect of a hike in tariffs that could deal a fresh blow to the euro zone economy.

Business • 13 Nov 24

The S&P 500 Index jumped 1.7%, the Dow Jones Industrial Average surged 3%, and the Nasdaq Composite leapt 1.95%.

Wall Street hits record high as Trump wins US presidency

Wall Street marched to record highs today and major stock markets around the world surged, while bitcoin also hit an all-time-high and the dollar was set for its biggest one-day jump in four years after Donald Trump was elected US president.

Business • 06 Nov 24

Trump beat Democrat Vice President Kamala Harris to retake the White House

Dollar soars, euro tumbles as Trump wins election

The dollar soared today and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan and Mexican peso were among the biggest losers on potential new tariffs in the regions.

Business • 06 Nov 24

Sterling was once the world's reserve currency

How the UK election could make or break sterling's run

Britain's pound has bounced ahead of an expected landslide election win for the opposition Labour Party but the currency's future depends on the next government convincing skittish investors that its plans to fix a stagnant economy are credible.

Business • 26 Jun 24

World oil prices had settled about $1 lower on Friday

Oil slips on signs of weak fuel demand, strong dollar

Oil prices extended declines today amid signs of weak fuel demand and as comments from US Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the world's biggest economy.

Business • 13 May 24

Traders had been on edge for weeks for any signs of action from Tokyo to prop up a currency that has fallen 11% against the dollar so far this year

Japan's yen jumps against the dollar

The yen jumped suddenly against the dollar today, with traders citing yen-buying intervention by Japanese authorities to try to stem a relentless fall in the currency to levels last seen over three decades ago.

Business • 29 Apr 24

The US dollar has been largely range-bound this year on the back of resilient US growth and the Fed's vow to keep borrowing costs elevated.

King dollar seen vulnerable in 2024 if Fed pivots

The US Federal Reserve's dovish December pivot has boosted the case for the weakening dollar to keep falling into 2024, though strength in the US economy could limit the greenback's decline.

Business • 29 Dec 23

The euro is today heading for a record twelfth week of declines against the dollar in a row

Euro set for longest losing streak in its history

The euro was heading today for a record twelfth week of declines against the dollar, unless US jobs data later in the day push the currently all-dominant greenback lower.

Business • 06 Oct 23

Oil prices have gained in the past two consecutive weeks with Brent settling at its highest since November on Friday

Oil prices ease from 10-month highs but hold above $90

The benchmark oil price stabilised today, holding above $90 a barrel reached last week for the first time in 10 months following fresh Saudi and Russian crude output cuts.

Business • 11 Sep 23

China cut its one-year benchmark lending rate by 10 basis points and left its five-year rate unchanged

Dollar steady as China disappoints

The dollar held firm on Monday following five straight weeks of gains, as investors looked ahead to the Federal Reserve's Jackson Hole symposium for guidance on where rates might settle when the dust of this hiking cycle clears.

Business • 21 Aug 23

Russia's rouble is set to gain more than 6% in what has been one of its most volatile weeks all year

Russian rouble steadies near 2-week after volatile week

The Russian rouble steadied today, hovering not far from a two-week high hit in the previous session and it is set to gain more than 6% in what has been one of its most volatile weeks all year, with the market on alert for capital controls.

Business • 18 Aug 23

Russia's rouble has shed around 30% of its value against the dollar since the beginning of the year

Rouble plunges against dollar to March 2022 low

The Russian rouble slid past 100 against the dollar today, its lowest level since March 23, 2022 - weeks after Moscow unleashed full-scale hostilities in Ukraine.

Business • 14 Aug 23