dollar

Heavy selling of the euro saw it tumble through the $1.30 mark versus the US dollar late this morning to its lowest level since early January.

The Dow Jones and S&P 500 surged yesterday as market sentiment was lifted by US growth almost doubling in Q3.

Jittery stock markets and the continuing debt crisis see investors opting for 'safe haven' currencies.

President Barack Obama has announced a deal to end the US debt crisis, which will raise the nation's debt ceiling by at least $2.1trn and cut the federal deficit by as much as $2.5trn over a decade.

The dollar touched a three week low against the euro as investors were kept waiting for signs of progress in US lawmakers' attempt to raise the debt ceiling.

European markets have surged on reports eurozone leaders will back a 'selective default' on Greek debt.

Investment Week and our sister title InvestmentEurope provide ongoing updates of the latest industry thoughts around today's crisis talks on the future of the euro.

Sterling has recovered from a seven-week low, moving higher against the dollar after it fell on Moody's threat to downgrade a raft of UK banks.

Inflation rose to its highest level since September 2008 last month, reversing the previous month's retreat and breaking sterling's five-day decline against the dollar.

The dollar has plummeted to a 16-month low against the euro as markets expect the Federal Reserve to signal it will hold interest rates.