The dollar rose sharply on Wednesday, hitting two-year highs against the euro and a basket of currencies, while the yen continued its relentless ascent as investors liquidated riskier assets.

With the exception of the Japanese Yen, the US dollar has rallied against every major currency. The settlement of the Lehman CDS auction, the new Money Market Investor Funding Facility, the drop in oil prices and the sell-off in equities have all contributed to the impressive strength in the greenback. However the dollar’s rally may [...]

The Dollar climbed to its highest since February 2007 against a basket of currencies on Tuesday as investors bet that interest rates outside the United States will fall sharply to shore up global growth. Concerns over the global economy’s health moved investors away from stocks into the safe havens of the Dollar, Yen and Swiss [...]

The dollar rose modestly in Asian trade Tuesday as investors took a breather while awaiting possible further US intervention to address the global financial crisis, dealers said.
The dollar edged up to 101.85 yen in Tokyo morning trade from 101.77 in New York late on Monday. The euro fell to 135.67 yen from 135.91 and to [...]