Saturday, July 11, 2015

Forex Market Update : Epic Research Singapore

The euro finished the week higher against the dollar on Friday after Greece offered concessions to its international creditors in its latest reform proposal, stoking investors’ optimism that the country’s international creditors would likely accept it, paving the way for the country to receive a third bailout.

The shared currency EURUSD, +1.0691%  traded at $1.1130 late Friday in New York, compared with $1.1039 late Thursday, finishing the week up 0.34% against the dollar.

The dollar USDJPY, +1.20%  traded at 122.85, up from ¥121.71 late Thursday in New York, but down 0.16% on the week. The pound GBPUSD, +0.8908%  traded at $1.5510, up from $1.5375 on Thursday. But it finished the week 0.63% lower against the dollar.

The ICE U.S. dollar index DXY, -0.51% a measure of the dollar’s strength against a basket of six currencies, was down 0.6% on the day to 96.0430, and finished week less than 0.1% lower.

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