Dhaka, Bangladesh (BBN)- The US Dollar (USD) weakened throughout the weak on conjecture that economic reports will exhibit recovery thus sapping demand for the greenback as a risk refuge. Equity surges also encouraged investments into higher yielding assets weakening USD further.
The British Pound (GBP) strengthened to 1.6550 against the USD on positive outlook of the UK Housing Industry before falling to 1.6434 against the USD. GBP declined after reports exhibited high UK budget deficits, according to reports.
The Canadian Dollar (CAD) appreciated during the week, reaching a five week high of 1.1001 against the USD, as equities and crude oil prices advanced.
The Japanese Yen (JPY) weakened to 94.17 against the USD on Japanese financial companies’ preparation to raise USD 7.43 billion for investment in international assets.
BBN/SS/SI/AD-25July09-2:03 pm (BST)