Currency, Global Economy | featured news

The dollar has risen above 100 yen for the first time in more than four years as currency traders persist in selling the Japanese currency in reaction to Tokyo's aggressive credit-easing moves.

Iranian authorities used aggressive measures Wednesday in an attempt to halt the nosedive of the country's currency, making arrests, vowing to stamp out sidewalk money changers and warning merchants against fueling the mounting public anger over the economy.

Just three years ago, the euro was being praised as the can-do currency that had delivered unprecedented prosperity in Europe. Now, it's widely derided as a hugely flawed experiment in the wake of a debt crisis that's threatening its very existence — an uncomfortable backdrop as the currency's notes and coins hit their first decade in circulation on Jan. 1.

Every six months, the Treasury issues a report declaring that China’s currency is undervalued, draining dollars and jobs out of the U.S. economy. And every six months, the Treasury defers action, saying the Beijing government is not manipulating its currency. But with the prolonged slump in jobs, pressure is mounting among American politicians — as well as those in Europe, Brazil and emerging markets — to challenge China, even if that means imposing import tariffs to protect domestic industries and jobs.

China lashed out at Japan and the US for their stance on territorial disputes in waters off its coast as Asian leaders gathered in Hanoi, hindering talks on currency and trade policies before a Group of 20 ...

World leaders must defuse currency tensions before they worsen to avoid repeating the mistakes of the Great Depression, the head of the World Bank said on Thursday.

A letter in advance of a G-20 meeting warned of economic relapse if stimulus programs are withdrawn, and hinted that China’s currency remains too weak.