Currencies

Dollar Advances as Trade Report Discourages Demand for Higher-Yield Assets The dollar rose against most of its major counterparts after a report on U.S. trade indicated the global economic recovery may be slowing, reducing demand for higher-yielding assets.

Feldstein Says Euro's Declines Are a Result of `Panic Selling' Over Greece Harvard University Professor Martin Feldstein said the euro’s 4.6 percent decline against the dollar this year has been “panic selling” stemming from the financial crisis in Greece.

Global Currency Trading Rises 17% to $2.7 Trillion a Day, RBA Report Shows Global currency trading rose to $2.7 trillion a day between April and October, the first growth since the six months to April 2008, the Reserve Bank of Australia said, citing data from five markets.

Dollar to Keep Reserve Role If Markets Stay Sound, Standard & Poor's Says The dollar will retain its status as the world’s reserve currency as long as U.S. financial markets are sound and government spending is sustainable, Standard & Poor’s said.

El-Erian Says World Economy May Face Disruptive Sovereign Debt Imbalances Mohamed A. El-Erian, whose company runs the world’s biggest mutual fund, said deteriorating public finances may affect the global economy more than is currently realized.

Canadian Dollar Declines as U.S. Trade Data Damps Demand for Risk Assets Canada’s dollar dropped for the first time in 10 days after a report on U.S. trade indicated the global economic recovery may be slowing, reducing demand for riskier assets.

Swiss Franc Weakens Against Euro; SNB Says It Will Prevent Excessive Gains The Swiss franc weakened against the euro after the nation’s central bank said it will act decisively to prevent excessive appreciation of the currency.

British Pound Strengthens Against Dollar, Euro After BOE Inflation Survey The pound strengthened, snapping a three-day decline against the dollar and the euro, after U.K. inflation expectations climbed to the highest since November 2008, fueling speculation interest rates may rise.

Swiss Central Bank Maintains Key Rate Near Zero, Repeats Stance on Franc The Swiss central bank reiterated its readiness to counter “excessive” gains in the franc and left the benchmark interest rate near zero as policy makers try to nurture an economic recovery.

Goldman Sachs Lowers Forecasts for Euro on Growth, Pound on U.K. Election Goldman Sachs Group Inc. cut its forecasts for the euro against Norway’s krone, the Swiss franc, the Swedish krona and Polish zloty, citing an “increasing focus on growth differentiation.”