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Dollar Posts Weekly Decline as Risk Surged
TheU.S. currency is set toanother weekly devaluation versus theeuro andmost
currencies asrisk appetite remained strong during most ofthis week’s session, forcing thedollar down asinvestors attempt toreach higher profits overseas.
Thegreenback remained unattractive this Friday before areport that is likely toshow that jobs decreased attheslowest pace inmore than ayear intheUnited States, indicating aneventual shift inemployment figures perceived with optimism bycurrency traders that abandon therelative safety ofthedollar topurchase
currencies asequities markets climb anddemand forcommodities rise. Theeuro touched thehighest level in2009 once again versus thedollar asGerman growth forecasts were revised up andstimulus measures tohelp theEurozone toemerge from recession are likely tobe lifted off inthefollowing months, indicating Europe’s strong resilience andhelping thebloc’s common currency tooutperform thegreenback foranother week.
Apositive employment report is likely toset thedollar down even further asoptimism reflects inrisk appetite among traders, according toanalysts. Even if thedollar is still onadowntrend, some specialists start todoubt that this losing streak may be entering its final days, astheeuro could be overpriced.
EUR/USD traded at1.5071 asof12:10 GMT from aprevious rate of1.5116 yesterday.
If you want tocomment ontheU.S. dollar’s recent action orhave any questions regarding this currency, please, feel free toreply below.