Dhaka, Bangladesh (BBN)- Rising commodity and equity markets saw the US Dollar (USD) fall against most major currencies this week, while returning risk appetite pared demand for the safety of the Yen (JPY).
The Euro (EUR) traded at 1.4211 against the Greenback, up from last week’s 1.3881, pending the ECB rate decision on June 4th. EUR rose as high as 1.4338 this week, the highest level this year.
The Pound (GBP) rose as high as 1.6655 against USD, before dropping near the end of the week on concerns that the rally was not supported by fundamental strength. GBP closed out the week at 1.6399, up from 1.5959 last week.
The Yen (JPY) saw a week of decline as gaining commodity and equity markets saw returning risk appetite among investors. JPY fell as low as 96.55 against USD, before closing at 96.15, higher than last week’s close of 96.89.
The Swiss Franc (CHF) gained against USD, closing out at 1.0689, higher than last week’s 1.0881 close, according to reports.
BBN/SS/SI/AD-05June09-11:35 am (BST)