Dollar Springs Higher as Oil Prices Slump
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The dollar rallied sharply on  Wednesday, erasing earlier losses, after oil prices plunged $3  per barrel on news of a bigger-than-expected build in U.S.  crude oil supplies.
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The dollar drifted higher against the euro in a modest recovery after Friday's decline following weak US job creation numbers for September.
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The dollar ticked up on Tuesday, extending its rebound from the previous day's seven-month low versus the yen after a sharp fall in oil prices led traders to scale back their bloated dollar-selling positions.
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The US dollar rose against the euro and other major currencies yesterday, recovering after some early losses as foreign exchange trading resumed in the new year.
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The dollar leapt over one percent  against other major currencies on Friday, extending its rebound  from multi-year lows as investors viewed its two-month decline  as too rapid.
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The dollar rocketed higher on  Wednesday as investors took a break from worrying about the  U.S. current account deficit and focused on relative interest  rates, which increasingly were expected to favor the dollar.
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The dollar jumped to a two-month high  against the euro on Tuesday as the market swung its attention  back to rising U.S. interest rates, a thin ray of light in the  dollar's overall weakening trend.
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The dollar edged up on Tuesday, pulling away from a five-year low against the yen as the market began to return its attention to the attraction of rising interest rates in the United States.
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The dollar rose to a three-week high against the euro on Wednesday, boosted by a fall in the price of oil, which should help narrow the U.S. trade deficit and thus benefit the dollar.
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The dollar gained tentatively on Monday, recovering from last week&#39;s record low against the euro and a 4-1/2-year trough against the yen as traders turned their sights to US economic reports due later in the week.
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The dollar rebounded on Thursday,  lifting shares of some Asian exporters, after the Federal  Reserve raised interest rates as expected and indicated it  would press ahead with further increases at a measured pace.
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European stocks jumped, bond prices fell  and the dollar was firm on Monday on relief oil prices had  retreated from last week's record highs, soothing investor  nerves about global economic and earnings growth.
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Oil rose to nearly $94 a barrel on Monday, halting a three-day losing streak amid a wider commodities rally, as the dollar's weakness and tensions involving Iran countered worries of a global economic downturn.
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NEW YORK: The dollar rallied yesterday as fears of dollar-buying intervention and a sharp fall in oil prices convinced traders that it was a good time to take profits after days of heavy dollar sales.
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The dollar edged higher against the euro  on Wednesday, after a downbeat outlook for European growth  prompted investors to buy back the U.S. currency after heavy  falls.
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The dollar rose broadly on Monday as  markets braced for a Federal Reserve policy meeting this week  that is widely expected to end with a higher federal funds  rate, making the dollar a more attractive currency.
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The dollar rebounded from a four-week  low against the yen on Friday as technically focused traders  shifted positions and, for the moment, ignored political and  economic news like spiking oil prices.