Forex Today: Dollar rises timidly on cautious markets – by MSalordFX DollarIndex Currencies Fed
US Dollar, holding on to recent losses versus EUR and GBP. The pattern could continue next week, considering that the first week of May is crucial with monetary policy decisions in Australia, the US and the Euro Zone and the US official employment report. The economic calendar is light next week, being the most relevant reports Australian and German inflation, US GDP and the monetary policy meeting in Japan. End-of-month flows could add to volatility.
USD/JPY posted a modest weekly gain, after being rejected from above 135.00. EUR/JPY and GBP/JPY also ended with small appreciations, showing some signs of a potential reversal. traded all week under 1.1000 and above 1.0900, in a modest range, ending a seven-week positive streak.
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