By the end of the first week Excon Fuji Securities reported dollar traded lower against the euro and yen, with sharp drop in Asian equities markets boosting demand for the yen. The USD/JPY pair pulled back to 104.61 declining by 0.23% while the EUR/USD pair gained 0.07% to 1.3599 as the euro rebounded from four week lows against the dollar.
By the mid-month, EUR/USD pair plummeted to 1.3517, the lowest level since November 25 and then recovered nearly 0.58% to hit the 1.3539 level. The weak euro also dropped near one-year lows against GBP, with EUR/GBP slipping 1.00% to 0.8244.
On 23 January, the dollar rose against its Canadian counterpart with the USD/CAD pair rising up 0.18% at 1.1107. The USD eased against the pound, with GBP/USD pairing ticks up at 1.6626 gaining 0.31%. The dollar dropped down against the yen and the Swiss franc, with USD/JPY down 1.29% at 103.18, and the USD/CHF was down 1.55% at 0.8974.
Last week, namely on January 26th, the USD/JPY pair fell to 102.00, the lowest level since December 6th. On the other hand, the USD/CHF decreased by 0.32% to 0.8943, extending the week’s losses to 1.82%. The euro traded lower against USD during Friday’s session with EUR/USD pair decreased 0.17% to hit 1.3676, after rising to three-week highs at around 1.3738 in morning trades.
The Turkish lira dropped in a series of record lows against the US dollar accelerating the overall selloff in emerging markets. Elsewhere, the Russian Ruble, Argentine peso and South Africa’s rand lost ground and slipped to multi-year lows against the greenback.
