The dollar fell to its lowest level against the euro in more than four weeks after people familiar with the selection process briefed that Ms Yellen was the top pick of Barack Obama, president, to replace Don Kohn, the outgoing vice-chairman.

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The dollar fell to its lowest level against the euro in more than four weeks after people familiar with the selection process briefed that Ms Yellen was the top pick of Barack Obama, president, to replace Don Kohn, the outgoing vice-chairman.

You have viewed your allowance of free articles. If you wish to view more, click the button below. [Read the full article]

San Francisco Federal Reserve President Janet Yellen is a leading contender to be nominated as vice chairman of the Federal Reserve, White House spokesman Robert Gibbs said on Friday.

Gibbs told a news briefing that Sarah Raskin and Peter Diamond were also under strong consideration for two other vacancies at the Fed's Board of Governors.

Chinese Premier Wen Jiabao on Sunday spurned foreign calls for the yuan to rise and showed no let up in scolding the United States over recent bilateral tensions.

A hot new loan-selling business is freeing Americans from crushing debt and enticing mortgage investors hungry for a deal. [Read the full article]

WASHINGTON -- Treasury releases international money flows data for January, 9 a.m.; Federal Reserve releases industrial production for February, 9:15 a.m.; National Association of Home Builders releases housing market index for March, 1 p.m.

WASHINGTON -- Federal Reserve announces decision on interest rates; Commerce Department releases housing starts for February, 8:30 a.m.; Treasury Secretary Timothy Geithner and White House budget director Peter Orszag testify about the budget and the economy before the House Appropriations Committee.

BERLIN -- Germany's ZEW institute releases its monthly investor confidence index for Europe's biggest economy.

BRUSSELS -- Finance ministers of the 27 EU nations review Greek austerity measures to ease the financial crisis.

VIENNA -- OPEC oil ministers meet on whether to increase, decrease or keep production output. Through Wednesday. [Read the full article]

WASHINGTON (Reuters) - An Obama administration program to help struggling homeowners modify their mortgages has more than one million active borrowers, though fewer than 10 percent have obtained permanent loan modifications, according to a Treasury Department report released on Friday.

The report said there were 1,003,902 active loan modifications through February and 168,708 of those have been made permanent. That was up from 946,735 active loan modifications and 116,297 permanent loan modifications through January.

Just 9.4 percent of the 1.8 million eligible borrowers -- those with loans delinquent more than 60 days -- have had their loan modifications made permanent, according to the Treasury.

The Treasury said it still hopes to help 3 to 4 million homeowners by 2012 under the $75 billion program. There are roughly 6.0 million borrowers more than 60 days behind on their payments but not all of them are eligible for the Home Affordable Modification Program (HAMP). [Read the full article]