United Arab Emirates: Link to U.S. Dollar Kept
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The United Arab Emirates will keep a 30-year link between its currency, the dirham, and the United States dollar, after completing a review of its currency regime.
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The dollar held on to small gains on Tuesday as investors remained cautious ahead of a U.S. interest rate decision and, later in the week, current account data that could underscore bearish sentiment on the currency.
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The dollar edged up on Tuesday as weaker  oil prices helped it to recover losses made on data showing  overseas demand for U.S. assets may have stalled. U.S. light  crude traded around $53.21, easing from a fresh record high of  $55.33 hit in New York and helping to keep the dollar away from  near eight-month lows hit overnight.
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The dollar was mostly unchanged from  the prior session on Tuesday as traders squared  up after  taking some profits in other currencies on a  better-than-expected U.S. consumer confidence report.
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The dollar held steady on Thursday, with investors reluctant to take positions ahead of U.S. trade data that could offer clues on whether the greenback can sustain its recent rally.
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The US dollar could be losing its lustre as the world's reserve currency, a report suggests.
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One often wonders what makes the US dollar a dominant currency in the world economy. The general perception is that the strength of a currency in the market place is a reflection of the inherent strength of the economy it represents.
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The dollar stayed in striking distance of record lows against the euro and a 12-year low versus sterling on Monday in the wake of disappointing U.S. jobs data.
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The dollar held steady against major  currencies on Tuesday as markets waited to see what the Federal  Reserve says about the U.S. economy after an expected interest  rate rise later in the session.
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The dollar held on to recent gains on Thursday after rallying the previous day, when traders and investors rushed to cash in on bets against the U.S. currency before the year-end.
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The dollar is dipping again. After falling against major currencies such as the euro, yen, and Canadian dollar in 2002 and 2003, the greenback stabilized this year.
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The dollar held steady on Thursday, with  investors reluctant to take positions ahead of U.S. trade data  that could offer clues on whether the greenback can sustain its  recent rally.
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The dollar retained most of the previous  session's gains against the euro on Monday after a positive  U.S. jobs report last week reinforced expectations for an  interest rate rise later this month.
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NEW YORK : The dollar moved slightly against major currencies after key US ISM data on manufacturing was in line with expectations, as the market remained cautious on the prospects for the US economy.
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The dollar steadied at the upper end of  recent ranges against the euro on Friday after minutes from a  U.S. Federal Reserve meeting showed optimism over the U.S.  economy, but soaring oil prices kept the yen under pressure.
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Record oil prices will not sink the US economy and China is moving toward a more flexible exchange rate that also helps safeguard world growth, a top US Treasury official said on Thursday.
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LONDON (Dow Jones)--Dubai has started roadshows for a dollar-denominated, five-year, floating-rate sukuk note issue, IFR Credit reported Monday.