Dhaka, Bangladesh (BBN) – The European currency (EUR) peaked to a 14-month high of 1.5046 against the USD this week as signs of economic recovery encouraged investors to sell the greenback and buy higher-yielding assets.
However, USD pared some of its losses towards the end of the week and EUR was seen trading at around 1.4964 level, according to reports.
The British Pound (GBP) strengthened against the Greenback throughout the week on dampened demand for the USD as a safe haven. GBP traded at a one-month high of 1.6626 against the USD before closing the week at 1.6528 on Thursday.
The Japanese Yen (JPY) slid against the USD after Japan’s shipments abroad fell 30.7 percent in September from a year ago. JPY slid 1.3 percent from last week to 91.27 against the USD.
The Australian Dollar (AUD) climbed to the strongest level against the Greenback since August 2008 after Australia’s central bank said that they would not be keeping borrowing costs low. AUD rose as high as 0.9311 against the USD, before settling at 0.9210.
BBN/SS/SI/AD-24October09-2:37 pm (BST)