Dhaka, Bangladesh (BBN)- The US Dollar (USD) rebounded as the European Currency (EUR) declined during the week trading at a two week low of 1.4071 against USD, 1.01 percent weaker compared to last week. Reports showing high German unemployment dampened demand for EUR.
The British Pound (GBP) initially declined to 1.6443 against USD as the UK economy shrank more than forecast. However GBP advanced reaching 1.6507 against USD on Thursday as investor optimism returned, according to reports.
The Canadian Dollar (CAD) appreciated initially to 1.0808 against USD as commodities advanced. CAD fell towards the end of the week to 1.0899 against USD as US equities and commodity futures dropped.
The Japanese Yen (JPY) weakened to 95.05 against USD. Reports exhibiting high production figures for Japanese manufactures sapped demand for JPY.
BBN/SS/SSR/AD-01August09-4:34 pm (BST)