The US dollar was put through the ringer this past week as market participants were left to wonder where the currency would find strength as its primary, fundamental pillars started to give way. There is no better gauge for the health of the greenback than price action itself. The dollar index suffered a 345 pip decline through Friday’s close – the biggest weekly drop in years. Read more…
In a world turned upside down, you must re-examine some basic assumptions. A good place to start: understanding the true nature of risk.
Rule No. 1: Risk
Old thinking: If you can stomach the ups and downs that come with risk, you’ll be rewarded.
New rule: Risk isn’t about your stomach. It’s about making or missing an important goal.
As unemployment soared in January, four states’ jobless rates climbed higher than 10%, according to federal data released Wednesday. In January, 49 states and the District of Columbia recorded month-over-month unemployment rate increases, the Labor Department reported. All 50 states and the District of Columbia had higher rates than the previous year. Read more…
LONDON (AP) — The pound slid to a six-week low against the dollar Monday after the British government’s weekend announcement that it will take a majority stake in Lloyds Banking Group PLC in return for insuring up to 260 billion pounds of assets at the ailing bank. By midday London time, the pound was down 1.8 percent at $1.3832, having earlier fallen to $1.3776, the lowest level since late January’s $1.3501 — itself the lowest level in nearly 24 years. Read more…
NEW YORK (AP) — Oil prices rose above $44 a barrel Friday as a jump in U.S. unemployment weakened the dollar and gave foreign investors more buying power. The Labor Department said America’s unemployment rate widened to 8.1 percent in February, the highest since late 1983. The U.S. shed 651,000 jobs last month. “The dollar got shaken a little bit by that stunningly bad report,” said Phil Flynn, analyst at Alaron Trading Corp. “It caused people who were running to the dollar as a safe haven to take pause. They’re running to gold or silver today. And some of that money went back to the euro.” Read more…
By TOM RAUM and DANIEL WAGNER, Associated Press Writers Tom Raum And Daniel Wagner, Associated Press Writers
 |  |  |  |  |  |  |  |  |  |  |  |  |  |
