Dollar

The 17-nation currency has advanced against the greenback to a seven-month high as prospects the lawmakers will reach an agreement in the budget issues increased. The lawmakers are trying to avert spending cuts and tax increases that will start in January if the law is not changed....

The Japanese currency has fallen to the lowest level since August 2011 against the 17-nation currency as bets the Bank of Japan will make additional stimulus increased prior to the start of a policy meeting today...

US lawmakers will meet today in Washington to discuss the fiscal cliff issue which has shown signs of being averted. Barrack Obama, the US President, and House Speaker John Boehner are discussing the issue in a bid to prevent the spending cuts and tax increases from taking effects...

U.S. house speaker John Boehner and president Barrack Obama haven’t reached to a conclusion with three weeks left to avert more than $600 billion in spending cuts and tax increases. Obama insisted on the high income tax rate for high earners, while Boehner insisted on the spending cuts....

The 17-nation currency rose against the greenback prior to European Central Bank policy decision to be announced today. The euro increased against the dollar despite a report from the region expected to confirm the region is in a recession...

Mario Draghi’s speech will be the main highlight of the week as the euro tries to make a comeback. Last week, the eurozone finance ministers decided to extend the period for Greece to meet its debt targets. Here are some of the events that will be shaping the EUR/USD pair this week...

China is expected to maintain an annual economic growth rate of 7.5 percent next year as speculation the leadership of Xi Jinping will not tolerate slower growth rate. The 7.5 percent growth rate is the lowest goal that has been set by the country since 2004...

US Treasury Secretary Timothy F. Geithner is due to meet congressional leaders in a meeting set to discuss the fiscal cliff. This has caused the dollar to decline to 0.4 percent from its weakest level this month...

The dollar gains while the Greece’s debt deal crisis continues due to spending while hiding the actual deficit. The dollar gained from almost a one- month low versus the euro, as concern a deal for Greece to buy back its bond may fail...