Greenback finished the week in the lowest level for 2009 against European currencies. To CAD and AUD is the lowest since September. Today dollar also lost ground falling across the board to new multi-month lows. The dollar index reached the lowest level since December. Markets in the U.S. fell modestly today in a light session ahead of Memorial Day holiday, getting in the negative side in the final minutes of trades. Dow Jones finish down 0.18% and Nasdaq lost 0.19%. General Motors stocks collapsed 25% on fears that the car maker would enter soon in bankruptcy.
EUR/USD rose in the week 4% and ended above 1.4000 (highest since December). The pair has been rising after bottoming on Monday at 1.3425. Since then the pair has been moving in an up trend. Against the Pound, the Euro rose today but not enough to erase weekly losses.
GBP/USD is ending the week above 1.5900. With today increase of 0.33% from opening price, the Pound has completed five consecutive days of gains against the Dollar. During the American session the pair tested the 5-month high at 1.5940 reached during the European session but failed to break above.
USD/CHF has ended the week below 1.0800 for the first time since December. The pair also fell the five days of the week completing a rally of almost 400 pips. Today the pair has fallen 0.66% from opening price.
The Dollar could only make progress against the Yen rising modestly 0.49% but not enough to recover of weekly losses. This is the third consecutive week with negative results for the Dollar. Yen lost across the board during the week but in a smaller scale compared to the greenback.
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