Saturday, April 9, 2016

Forex Market Update : Epic Research Singapore

After falling to a nearly 18-month low against the yen earlier in the week, the dollar’s Friday gain snapped a five-day losing streak.

The buck still managed to log its largest weekly drop against the Japanese currency since the week ended Feb. 12, falling 3.5%.

The U.S. currency USDJPY, -0.14%  advanced to as high as ¥108.99 to the dollar early in morning trade before falling back to ¥108.27 late Friday in New York, compared with ¥108.24 late Thursday in New York.

In other trading, the euro EURUSD, +0.1758%  edged higher to $1.1401 late Friday in New York, finishing the week little-changed from where it started. By comparison, it traded at $1.1376 late Thursday. Meanwhile, the British pound GBPUSD, +0.5122%  strengthened to $1.4113, compared with $1.4058 Thursday.

A surge in oil prices and a spate of strong economic data helped push the Canadian dollar USDCAD, -1.2095%   past a key technical level of C$1.30 to the greenback.

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