This week was rather frustrating for the U.S. currency, which dropped versus most other major currencies, as the confidence about the U.S. economic growth was damaged by the signs of the economic recovery’s weakness.
The euro rebounded after the previous losses against the dollar steadily, even though it experienced slight decline on Wednesday and Friday. The moves against the Great Britain pound were significantly more volatile, yet the week ended in losses for the greenback too. And against the Japanese yen the dollar was falling almost constantly, only Wednesday was rather flat as the USD/JPY currency pair closed at exactly at the level, at which it has opened.
The U.S. lost much of its appeal as the economic recovery, which looked quite robust, showed the unsettling signs of the weakness. Main reasons for the worries were bad manufacturing data and the weak housing market.
EUR/USD closed at 1.2373 after it opened this week at 1.2118 and reached the weekly high of 1.2415. GBP/USD closed at 1.4821 after opening at 1.4553. USD/JPY closed at 90.73 after it reached the weekly low of 90.45 and down from the opening price of 91.72.
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