The dollar on Friday continues to retrace the sharp losses that it saw during the previous two days.
U.S. stock markets have been unable to notch any solid gains despite the Federal Reserve's new liquidity injection plan, and that's pushing some investors back into the greenback for its safe haven status.
The euro fell to an intraday low near $1.3500 during the New York session and remains under $1.36 after hitting a 10-week high of $1.3739 Thursday. The dollar is back above Y96, three yen higher from a nearly one-month low reached a day earlier.
Much of the dollar's sharp losses earlier this week were attributed to a modest rally in U.S. stock markets after the Fed announced on Wednesday its new plan to revive the economy. The plan calls for pumping an additional $1.15 trillion into the system through the purchase of $300 billion in long-term Treasury bonds during the next six months, and other actions.
But stocks notched losses Thursday, and Friday they are trading rather flat, which is causing some investors to get out of choppy stocks once again and head back into the dollar.
Currency markets showed little immediate reaction to comments Friday from Fed Chairman Ben Bernanke. He said the Fed actions have helped the economy and the financial system and that he's encouraged by market response to the Fed's credit programs.
Friday afternoon in New York, the euro was at $1.3568 from $1.3678 late Thursday, and the dollar was at Y96.15 from Y94.41, according to EBS. The euro was at Y130.45 from Y129.14. The U.K. pound was at $1.4455 from $1.4518. The dollar was at CHF1.1246 from CHF1.1228 Thursday.
Meanwhile, the Canadian dollar is little changed Friday around noon EDT as currency traders try to gauge wavering levels of risk aversion as reflected in equity market developments.
The Canadian currency showed little response to news of a surprise 1.9% jump in Canadian retail sales in January, and analysts say it is generally seen as headed for a period of consolidation after its recent sharp upward move.
Currency strategist Jacqui Douglas of TD Securities in Toronto said that the U.S.-Canadian dollar pair is currently trying "to find some stable footing within the newly established C$1.2200-C$1.2600 range."
Recently, the dollar is at C$1.2370, from C$1.2373 late Thursday.
U.S. stock markets have been unable to notch any solid gains despite the Federal Reserve's new liquidity injection plan, and that's pushing some investors back into the greenback for its safe haven status.
The euro fell to an intraday low near $1.3500 during the New York session and remains under $1.36 after hitting a 10-week high of $1.3739 Thursday. The dollar is back above Y96, three yen higher from a nearly one-month low reached a day earlier.
Much of the dollar's sharp losses earlier this week were attributed to a modest rally in U.S. stock markets after the Fed announced on Wednesday its new plan to revive the economy. The plan calls for pumping an additional $1.15 trillion into the system through the purchase of $300 billion in long-term Treasury bonds during the next six months, and other actions.
But stocks notched losses Thursday, and Friday they are trading rather flat, which is causing some investors to get out of choppy stocks once again and head back into the dollar.
Currency markets showed little immediate reaction to comments Friday from Fed Chairman Ben Bernanke. He said the Fed actions have helped the economy and the financial system and that he's encouraged by market response to the Fed's credit programs.
Friday afternoon in New York, the euro was at $1.3568 from $1.3678 late Thursday, and the dollar was at Y96.15 from Y94.41, according to EBS. The euro was at Y130.45 from Y129.14. The U.K. pound was at $1.4455 from $1.4518. The dollar was at CHF1.1246 from CHF1.1228 Thursday.
Meanwhile, the Canadian dollar is little changed Friday around noon EDT as currency traders try to gauge wavering levels of risk aversion as reflected in equity market developments.
The Canadian currency showed little response to news of a surprise 1.9% jump in Canadian retail sales in January, and analysts say it is generally seen as headed for a period of consolidation after its recent sharp upward move.
Currency strategist Jacqui Douglas of TD Securities in Toronto said that the U.S.-Canadian dollar pair is currently trying "to find some stable footing within the newly established C$1.2200-C$1.2600 range."
Recently, the dollar is at C$1.2370, from C$1.2373 late Thursday.
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