Dhaka, Bangladesh (BBN)- The European currency (EUR) started the week trading at around 1.4501 against the US Dollar (USD) and stayed under pressure during the first part of the week.
EUR slipped to USD 1.4385 on Monday, dragged down by concerns about fiscal problems rocking Greece. On Thursday the EUR further weakened to a five-month low of USD 1.4025 before closing at around 1.4065 against the USD.
USD hit its lowest level in four weeks against the Japanese Yen (JPY), touching JPY 90.29 level, after Japan Airlines filed for bankruptcy protection. However, USD pared some of its losses on Thursday to settle at around 91.84 JPY.
The USD fell to a one-month low of 1.6325 against the Pound sterling (GBP) on Friday on concerns that U.S. interest rates will remain low for a while. On Tuesday, the pound hit a six-week high of USD 1.6457, supported by firmer UK housing data. However, GBP retreated towards the end of the week, hitting a one month low of 1.6122 against the USD after data showed UK public finances deteriorated further in December.
The Canadian Dollar (CAD) fell against the Greenback throughout the week, as the Bank of Canada held interest rates steady and slowed down its growth outlook, citing weak U.S. demand and a strong Canadian currency as risks to recovery. The Canadian dollar finally closed at around 1.0474 against the USD.
BBN/SS/SI/AD=23January10-2:20 pm (BST)
