The dollar ended this week posting gains versus all 6 major currencies, as another wave of pessimism caused by grim reports in U.S. and U.K. spurred demand for the safety of the greenback.
The Mexican peso, a currency which is highly dependent on United States economic conditions, had the first decline in three weeks as American unemployment figures increased concerns regarding the nation’s recession depth.
The Brazilian real, which started the week with a bearish movement due to rising concerns regarding the global slump depth, recovered its losses on favorable domestic economic reports.
The British currency is heading for the firstly weekly decline against the dollar in a month, after a report released today indicated a less significant service sector growth for the month of June.
The dollar is coming to this week’s end advancing against the euro and the pound, after a U.S. report indicated more job cuts than predicted, raising concerns that the global slump may be prolonged for an undetermined amount of time.
The Chilean peso, which was one of the best performance currencies since April, fell significantly as a U.S. jobs report damped demand for risk and emergent market currencies.
The loonie had a day of losses versus virtually all main traded currencies, as U.S. jobs were cut more than what forecasts predicted, damping demand for risk appetite in markets.
The Swedish krona lost against the euro and the dollar today after the nation’s central bank unexpectedly cut its benchmark interest rate and stated that the recession is deeper than predicted.
The U.S. dollar climbed today after a Chinese Foreign Ministry official stated that the believes in the stability of the greenback, and informed that he is unaware of discussions next week during the G8 meeting regarding eventual substitutes for the dollar as the world main reserve currency.
The Polish currency hit a six-month record versus the euro, after getting a World Bank loan to rescue the country from one of the most severe recessions among the European Union bloc members.
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