Forex Today: Dollar revives, but not out of the woods – by MSalordFX DollarIndex Macroeconomics USDCAD
posted the highest weekly close since February above 0.8850. Critical UK data is due next week, with job numbers and consumer inflation.finished the week little changed, with modest gains near the 133.00 area. The Japanese Yen lost strength amid risk appetite and after hopes for a turnaround in Bank of Japan's monetary policy stance vanished following the first press conference of Kazuo Ueda, the new governor. continued to slide and broke decisively under 0.
Latin American currencies were the best weekly performers despite falling on Friday. The Colombian Peso and the Chilean Peso gained more than 2.5% each versus the US Dollar. looked at record highs and blinked, retreating on Friday to $2,000. The trend is still to the upside, but the sharp correction raises doubts about the short-term bullish potential. Silver lost 2% on Friday, trimming some of its weekly gains, but still scoring the fifth advance in a row.
Bitcoin gained 8% during the week and it was holding above $30,000 at the highest level since June 2022.
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