This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Dollar Gains on Pound, Euro

The beaten-down greenback was a bit higher against the world's other major currencies Monday, as traders bet the U.S. government would release a favorable employment report later in the week.

Euros were trading for $1.423, down slightly from $1.4259 late Friday. The yen fell to 115.9 against the dollar from 114.9 last week. British pounds were selling for $2.0432 vs. $2.0461 previously.

"This week's U.S. jobs report is likely to pick up," writes the foreign exchange strategy team at Brown Brothers Harriman in New York in a research report.

A strong jobs report would reflect a firm U.S. economy and would reduce the chances of another quick cut in interest rates by the Federal Reserve.

That factor is combining with a change in market sentiment toward the European Central Bank's interest rate strategy, BBH says. In particular, the feeling seems to be that the ECB won't hike interest rates any time soon and so the rally in the euro may need to take a breather.

The value of the euro has rallied from around $1.30 in January to an all-time high near $1.428 late last week.

In other currency market action, the Canadian loonie was firmer, with U.S. dollars buying C$0.9927, compared with C$0.9945 in the prior trading session. The Australian dollar was stronger, as well.

The PowerShares DB G10 Currency Harvest (DBV), which tracks the value of multiple currencies, was rising 0.8% in recent activity.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs