The euro continues to rally against the U.S. dollar, as investors welcome positive developments in Europe and anticipate more easing by the Federal Reserve.
After falling to a multi-year low of $1.20 in July, the euro rose to $1.2842 on Tuesday -- its highest level since May 11.
Europe's single currency has been supported recently by hopes for bold action by the European Central Bank, which announced last week that it would MOREBen Rooney - Sep 11, 2012 1:34 PM ET
Billionaire financier and political activist George Soros said Germany should lead the European Union in a different direction, or be persuaded to leave the euro currency so other nations can move forward.
"In my judgment the best course of action is to persuade Germany to choose between becoming a more benevolent hegemon or leaving the euro," Soros wrote in an essay published in the New York Review of Books Monday. "In MOREBen Rooney - Sep 10, 2012 10:56 AM ET
The fate of Europe's latest rescue fund will be decided this week by a high court in Germany.
At issue is an injunction that would block the German parliament from ratifying the international treaty governing the European Stability Mechanism, or ESM.
The ESM is a key component of the "breakthrough" agreement announced in June by euro area leaders, including German Chancellor Angela Merkel, that is aimed at stabilizing financial markets and strengthening MOREBen Rooney - Sep 10, 2012 7:46 AM ET
Spain suffered the highest level of joblessness in the eurozone in July, as overall unemployment in the region held steady at a record high.
One out of every four citizens in Spain is unemployed, according to the latest statistics from Eurostat. The situation is even worse for young Spaniards. The unemployment rate for those under 25 years old is now approaching 53%.
Spain has been dealing with high unemployment for years. The MOREBen Rooney - Aug 31, 2012 11:23 AM ET
European Central Bank President Mario Draghi defended the euro currency Wednesday and reiterated that "exceptional measures" are justified to stabilize financial markets.
In an op-ed published in German newsweekly Die Zeit, Draghi said the euro was launched as a "currency without a state," built on an "institutional framework" that left it vulnerable to crises.
Draghi went on to say that the the euro area needs a "new architecture" to complete the monetary MOREBen Rooney - Aug 29, 2012 12:55 PM ET
After the Federal Reserve declined to spike the punchbowl Wednesday, fans of monetary stimulus are now entirely dependent on the European Central Bank for a fix.
In leaving its policies unchanged, the Fed gave investors what they expected, but not what they wanted. Now, all eyes are turning to Frankfurt, where top ECB officials will meet Thursday for their monthly policy discussion.
ECB president Mario Draghi raised the stakes last week when MOREBen Rooney - Aug 1, 2012 3:48 PM ET
One day after Moody's lowered its outlook for Germany's credit rating, the nation sold 2.32 billion euros worth of ultra long-term bonds.
The average yield at Wednesday's auction of 30-year bunds was 2.17%, down from 2.41% at the last such auction in April. The drop in yield, which falls when prices rise, suggests that demand remains strong. However, the amount sold was below the 3 billion euros offered by the German MOREBen Rooney - Jul 25, 2012 11:41 AM ET
Catalonia appears poised to become the latest Spanish region to ask the central government for help paying its public debts, but the locals are not calling it a bailout.
The development, if confirmed, would make Catalonia the largest of Spain's 17 autonomous communities to request financial assistance from Madrid.
On Friday, Valencia became the first region to announce plans to tap the 18 billion euro fund Spain recently created to support its MOREBen Rooney - Jul 24, 2012 2:30 PM ET
Good news from Europe! The euro surged Friday morning on news of a deal to help recapitalize banks. Bond yields in Spain and Italy fell. Stocks around the world rallied and there was a nice pop on Wall Street as well.
Bad news from Europe! The euro surged Friday morning on news of a deal to help recapitalize banks. Bond yields in Spain and Italy fell. Stocks around the world rallied MOREPaul R. La Monica - Jun 29, 2012 11:28 AM ET
As European leaders gear up for a two-day summit in Brussels, German Chancellor Angela Merkel made her anti-eurobond stance crystal clear.
"To force one single interest rate by means of eurobonds politically, which already have not worked on the markets, would be repeating of an old mistake and not the lesson learnt from experience," said Merkel, speaking in front of Germany's Lower House of Parliament Wednesday.
The idea of eurobonds, which would MORECatherine Tymkiw - Jun 27, 2012 10:30 AM ET
|Invasive lionfish now on Whole Foods menu - sans poisonous spines|
|Donald Trump under oath: Trump University's promises crumble|
|Verizon reaches deal with 36,000 striking workers|
|Weighed down by characters, 'X-Men: Apocalypse' doesn't take off May 26|
|Ad tycoon Jean-Claude Decaux, pioneer of self-cleaning public toilets, dies at 78|