MW: Data on German employment buoy euro as dollar retreats
By William L. Watts and Lisa Twaronite, MarketWatch
LONDON (MarketWatch) -- The U.S. dollar mostly slightly lower Tuesday, losing ground against the euro after Germany's jobless numbers fell for a 14th consecutive month.
The dollar index (DXY 83.11, -0.05, -0.07%) , a measure of the U.S. unit against a basket of currencies, stood at 83.020, down from 83.184 late Monday.
The yen, meanwhile, shrugged off more tough talk from Japan's top finance official, strengthening further against the dollar as traders appeared increasingly assured that authorities wouldn't act to back up implied threats to stem the currency's rise.
By William L. Watts and Lisa Twaronite, MarketWatch
LONDON (MarketWatch) -- The U.S. dollar mostly slightly lower Tuesday, losing ground against the euro after Germany's jobless numbers fell for a 14th consecutive month.
The dollar index (DXY 83.11, -0.05, -0.07%) , a measure of the U.S. unit against a basket of currencies, stood at 83.020, down from 83.184 late Monday.
The yen, meanwhile, shrugged off more tough talk from Japan's top finance official, strengthening further against the dollar as traders appeared increasingly assured that authorities wouldn't act to back up implied threats to stem the currency's rise.
By William L. Watts and Lisa Twaronite, MarketWatch
LONDON (MarketWatch) -- The U.S. dollar mostly slightly lower Tuesday, losing ground against the euro after Germany's jobless numbers fell for a 14th consecutive month.
The dollar index (DXY 83.11, -0.05, -0.07%) , a measure of the U.S. unit against a basket of currencies, stood at 83.020, down from 83.184 late Monday.
The yen, meanwhile, shrugged off more tough talk from Japan's top finance official, strengthening further against the dollar as traders appeared increasingly assured that authorities wouldn't act to back up implied threats to stem the currency's rise.
"As I've been saying, my fundamental stance is that excessive fluctuations or disorderly movements in exchange rates have a negative effect on the stability of economies and financial markets. Based on this stance, we will monitor the market with great interest, and we will take decisive steps when that becomes necessary," he said.
After the yen reached a 15-year high against the dollar last week, the Bank of Japan held an emergency policy meeting Monday and took further easing steps. But that, and verbal warnings from Noda and other officials, had no lasting effects.
"Noda's jawboning was ignored & USD/JPY continues to trade heavily after the BOJ underwhelmed," said Sue Trinh, senior currency strategist at Royal Bank of Canada.
