Dhaka, Bangladesh (BBN)- The US Dollar (USD) rose against the Japanese Yen (JPY) and the Swiss Franc (CHF) on Friday. The JPY slipped broadly on Monday as investors waited for possible monetary easing by the Bank of Japan (BoJ) to help curb the strength of the JPY.
The British Pound Sterling (GBP) also fell against the USD on Friday after the Greenback rallied across the board on comments from Federal Reserve Chairman that the Fed was ready to provide support if necessary.
The BoJ’s decision to expand cheap loans to banks pushed the JPY near a 15-year high of 83.58 against the Greenback on Tuesday, according to reports.
Upbeat economic data that the US manufacturing sector grew quicker than expected in August, China’s factory activity regained momentum and Australia’s last quarter’s economic growth surpassed the last three year’s growth pace, caused the US Dollar to weaken against major currencies on Wednesday.
The Australian Dollar (AUD) jumped by two percent to reach USD 0.9080. Against the JPY, the USD rose by 0.4 percent to 84.49 just after hitting a session low of 83.69 Yen.
The USD and JPY recovered losses on Thursday as risk-taking sentiment was tempered ahead of a European Central Bank policy meeting later in the day.
BBN/SI/AD-04Sept10-11:59 am (BST)
