Dhaka, Bangladesh (BBN)– The European currency (EUR) rose to 1.4744 against the US Dollar (USD), the strongest level since September 2008, as the Greenback was hit by growing appetite for higher yielding assets.
The British Pound (GBP) weakened against the USD to 1.6555 as a report showed that the jobless rate in the UK rose the highest since 1995. BOE stated that policy makers may cut the rate paid to hold reserves at the central bank. The GBP was 0.8917 against the EUR, close to par with the 16-nation currency, according to reports.
The Japanese Yen (JPY) strengthened to 90.13 against the USD on Wednesday, the strongest since February 2009, to settle at 90.57 toward the end of the week. The JPY picked up pace after Japan’s Finance Minister Hirohisa Fujii said that a strong yen had advantages for the nation’s economy. JPY fell to 133.78 against the EUR over the week.
BBN/SS/SI/AD-18September09-5:31 pm (BST)
