LONDON (Dow Jones)–The dollar is mostly lower in Europe Thursday as global equity markets continue to fall and risk aversion continues to rise. The latest global jitters, which were triggered Wednesday by heavy losses at General Motors and Morgan Stanley as well as fears about further subprime losses, initially helped to push the Dow Jones Industrial Index down 2. The main focus of market attention is now the press conference to be given by European Central Bank President Jean-Claude Trichet after the central bank’s latest policy meeting ends later in the day and the testimony to be given by Federal Reserve Chairman Ben Bernanke to Congress after that. Meanwhile, an early reversal in carry trades provided the yen with only short-term respite, with the Japanese currency swiftly renewing its slide after data showing that Japanese machinery orders fell 7. read more
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