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Dollar Rises As China Calms Fears About Slowdown

From nasdaq.com

Resource-linked currencies strengthen against the buck The dollar strengthened Friday against its main rivals after China guided its currency higher, assuaging concerns about authorities' ability to guide the world's second-largest economy through a dramatic transition. The moves for the Chinese currency come after the European Central Bank delivered more-pronounced-than-expected quantitative-easing measures and comments from ECB President Mario Draghi resulted in whipsawing action in the euro, shaking confidence in central-bank policies. On Friday, the euro fell to $1.1154 compared with $1.1176 late Thursday. The ... (full story)

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