Greenback finished the week mostly lower in the market with moderate losses weakened by risk appetite and by the announcement of major central banks. The Aussie and the Pound were also among the worst performs.
The US Dollar started the week on a strong note, rising sharply to fresh monthly highs but it bounced sharply and turned to the downside, falling in the next days. The EUR/USD bottomed at 1.3497 on Monday, jumped to 1.3935 on Thursday and finished the week around 1.3780/90.
The GBP/USD moved all week in a small range of less than 200 pips and finished the week just 50 pips below the price it opened Monday’s Asian session. “The pair finished the week lower after the latest jobs report which braded ‘unwelcome’ by the Employment Minister Chris Grayling prompted market participants to speculate over the potential need for an additional monetary policy easing by the BoE; in addition to that, BoE's Weale said that risk of recession increased since July and that growth prospects have worsened in the last few weeks,” the Talking-Forex.com analysis team affirmed.
The USD/CHF ended slightly lower while USD/JPY failed to hold above 77.00 despite risk appetite and fell back below 77.00. The Aussie and the Kiwi posted gains versus the US Dollar and the Aussie finished with small losses.
SOURS :- FXstreet.com
