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The dollar rose on Thursday as global asset markets adjusted sharply after the Federal Reserve confirmed that it would begin reducing the pace of stimulus this year as the economic outlook improves. Against the buoyant dollar, the euro struggled after Purchasing Managers' Index (PMI) data showed the euro zone's private sector has yet to begin making a steady recovery.[+]

Spain has made strong progress on fixing its economy, the International Monetary Fund said on Wednesday, although it warned more steps were needed to tackle a difficult outlook. In the concluding statement of its annual assessment of the Spanish economy, the IMF urged the government and European authorities to boost job creation in the country while going further in cleaning up its banking sector.[+]

Global markets mostly stuck to tight ranges on Tuesday, with uncertainty about the future of the U.S. monetary stimulus program keeping investors on edge as the Federal Reserve prepared to meet. The U.S. central bank kicks off a two-day meeting later in the day and markets are on alert for guidance on when and how quickly it will look to wind down its bond buying program.[+]

Housing starts rose less than expected in May, likely reflecting labor and material constraints, but the overall trend remained consistent with strength in the housing market. Though permits for future home construction fell, that followed a surge in April, which hoisted them above the 1 million-unit mark. The pullback last month reflected a drop in the volatile multi-family sector, but permits for single-family construction touched their highest level in five years.[+]

The European Union official in charge of tax policy tried to persuade Switzerland on Monday to agree to surrender more information about clients of its big banking industry as part of a drive to combat tax evasion. Commissioner Algirdas Semeta's meeting with Swiss Finance Minister Eveline Widmer-Schlumpf in Bern came as British Prime Minister David Cameron was due to put his aim of fighting tax evasion on the agenda of a G8 summit he is hosting on Monday and Tuesday.[+]

The yen fell against the dollar and the euro on Monday as global stocks rebounded, but the Japanese currency may stay near two-month highs until investors get more clarity on the Federal Reserve's ultra-loose policy. The focus is on what Chairman Ben Bernanke says after the Fed's meeting on Tuesday and Wednesday. Expectations it will start unwinding its bond-buying program have hit global shares and sparked a rush to the safety of liquid currencies like the yen.[+]

Employers stepped up hiring in May in a show of economic resilience that suggests the Federal Reserve could begin to scale back the amount of cash it is pumping into the banking system later this year. The United States added 175,000 jobs last month, just above the median forecast in a Reuters poll, Labor Department data showed on Friday.[+]

Japanese equities plunged to two-month lows on Friday, with the yen rising against the dollar as investors fretted over U.S. jobs data due later, while constant market agonizing about the Federal Reserve's stimulus plans drove Asian shares to fresh 2013 lows. The Nikkei average .N225 shed as much as 2.8 percent and entered bear market territory earlier, having lost 20 percent from a 5-1/2 year high reached two weeks ago. The Nikkei ended down 0.2 percent, closing at its worst week in over two years. .T[+]

The European Central Bank kept its main interest rate on hold at a record low 0.5 percent on Thursday as it waits to see whether early signs of stabilization in the euro zone will blossom into an economic recovery. Economic data improved in May and ECB President Mario Draghi said this week he still sees "a very gradual recovery" starting later this year, taking pressure off the ECB to act again, as it had promised to do if necessary after cutting rates in May.[+]

The number of Americans filing new claims for unemployment benefits fell last week, pointing to moderate job growth despite slowing economic activity. Initial claims for state unemployment benefits declined 11,000 to a seasonally adjusted 346,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 3,000 more applications received than previously reported. Economists polled by Reuters had expected first-time applications to fall to 345,000 last week.[+]