Forex Market Update : Epic Research Singapore

The dollar strengthened against the euro and the yen Friday, as investors shed caution following signs that the European Central Bank may provide more stimulus, and as Japanese stocks rallied.

The euro EURUSD, -0.6989% weakened versus the dollar in late New York action to change hands at $1.0792, down from $1.0888 late Thursday.

The ICE Dollar Index DXY, +0.42% a measure of the dollar against a basket of major currencies, was up 0.5% at 99.56.

In other pairs, the Canadian dollar USDCAD, -1.0093% which had dropped to 13-year lows last week, reversed course and strengthened this week after the Bank of Canada left its rates unchanged on Wednesday and as oil prices rebounded. The loonie strengthened 0.9% to trade at $C1.42, posting its first weekly gain this year.

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