Dhaka, Bangladesh (BBN) – The US Dollar (USD) opened the week lower against the Japanese Yen (JPY) as investors awaited U.S. monthly employment report.
The greenback went on to hit a four month peak against the Yen on Monday, at 93.21. The Yen continued to fluctuate against the USD for the rest of the week amid uncertainty surrounding the resignation of Japan’s finance minister.
The USD finally settled at around 93.18 JPY, after touching 93.40 level on Thursday, according to reports.
The Euro (EUR) opened the week higher against the USD and went on to reach the highest level in three weeks, at around USD 1.4446. The Greenback declined again against the Euro on Wednesday after minutes from the U.S. Federal Reserve’s latest policy meeting suggested the possibility of more stimulus measures for the US economy The EUR finally settled at around USD 1.4328 on Thursday.
The Canadian Dollar (CAD) started the week at a two month low against U.S. Dollar at 96.61 cents. The CAD continued to rise against the USD, reaching to an 11-week high of 1.0517, as crude prices rallied and the Federal Reserve considered the possibility of extending their stimulus measures in the U.S. The USD finally settled at 1.0318 on Thursday.
The British Pound (GBP) dropped to the weakest level in a week on Thursday, testing as low as 1.591, against the greenback on a drop in consumer confidence. Fading stimulus measures and a reversal of the value added tax reduction also contributed to the drop in GBP. GBP closed the week trading at around 1.5934 against the USD.
BBN/SS/SSR/AD-08January10-8:50 pm (BST)
