Dhaka, Bangladesh (BBN)– The Euro (EUR) slipped against the USD on Thursday on selling from a major Asian sovereign account, while nagging doubts over a lack of concrete policy measures to tackle the euro zone debt crisis hit sentiment.
Earlier in the week on Tuesday the EUR drifted off a two-week low, with its recovery prompted by a weak German industrial data the previous day lacking momentum as expectations dimmed for a near-term Euro zone rate hike, a weekly review report said.
The British Pound Sterling (GBP) remained flat throughout the week after last week’s extended gains. The USD rose toward a two-week high against the Japanese Yen (JPY) before U.S. reports forecast to show jobless claims fell and consumer confidence improved, boosting demand for assets in the world’s largest economy.
The greenback strengthened against all of its 16 major counterparts after Federal Reserve Bank of Atlanta President Dennis Lockhart said an increase in Treasury yields indicates growing confidence the U.S. recovery will gain strength.
The Australian Dollar (AUD) fell for a second day on Thursday after a government report showed full-time employment dropped in January; spurring concern the economy is growing too slowly to prompt the central bank to raise interest rates.
BBN/SI/AD-12Feb11-12:54 pm (BST)
