Dhaka, Bangladesh (BBN)- The US Dollar (USD) rose against the Euro (EUR) on Friday and could extend its rebound next week, buoyed by higher Treasury yields after a sharp drop in the U.S. jobless rate brightened the outlook for the U.S. economy.
The EUR fell as low as USD 1.3543 on trading platform EBS on Friday, retreating further from a nearly three-month high at $1.3862 set earlier this week, according to reports.
Traders said the break through support at USD 1.3570 suggests a three-week euro rally may be showing signs of exhaustion.
BBN/SI/SSR-06Feb11-10:08 am (BST)