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The EUR/USD pair dipped sharply in the morning to the 1.4200 zone, also as the EMU composite PM disappointed, but the dollar once more could not hold on to these gains and had to give them back gradually throughout the day. It was not a unidirectional move, with ups and downs in this pair throughout the day, but in the end of the day the EUR/USD pair was back at the 1.4260 zone, making it an almost unchanged day afterall. ...

After hitting a record low on the dollar index at 77.09 earlier, the dollar bounced back versus major currencies except the yen on Monday. The yen rose against all the key currencies on risk aversion as international equities declined. ...

EU leaders ended a political stalemate that lasted more than two years by approving a new treaty of reforms, filling the void left after France and the Netherlands rejected the constitution in mid-2005. The political stability of the EU has been questioned in recent weeks, but had little effect on the EUR. ...

Carry trade buyers take NZD higher. Opening around 0.7450 yesterday the NZD immediately rallied as carry trade buyers stepped up to the plate again on the back of a late rally in the Dow. ...

Japan's benchmark Nikkei average rose 0.8 % on Thursday, climbing back above 17,000 after hitting a two-week low the previous day, powered by high tech shares such as Canon Inc after similar issues gained on Wall Street. Stocks in banks such as Mizuho Financial also recovered after several sessions of heavy selling, helping to boost the market. ...