The US dollar rose today against the euro and the Great Britain pound as many traders believed in the positive effect of the quantitative easing on the US economy, despite the criticism from the economists. The dollar dropped against the Japanese currency.

The Canadian dollar fell versus its US counterpart and advanced against the euro as the optimism for Ireland’s rescue package wasn’t been able to sustain the good outlook for Europe’s economy.

The New Zealand dollar dropped heavily today as the Standard & Poor’s downgraded its outlook for New Zealand’s credit rating as the nation’s banks may be weakening.

The euro jumped today on the speculation that the rescue package would help Ireland to deal with its debt crisis, but after the sharp advance the currency experienced even stronger drop and currently continues to decline.

The Canadian dollar declined last week. One of the major reasons for the underperformance was the economic tightening measures in China. The ensued speculation about China’s plans to cool its economy weakened the growth-related currencies and caused the decline of the prices for crude oil, the biggest Canada’s export. The concerns about the actions of the Chinese government will cause pressure on the Canadian currency.

This week was rather interesting for the Australian dollar as it gained versus some currencies and fell against others. Against some currencies the Aussie experienced volatile swings, yet managed to end the week not very far from where it started.

The Canadian dollar fell today against the euro on the concern that China is going to slow its economic growth in order to battle the rising inflation. The Canadian currency fell also versus the US dollar but rebounded later.

The Great Britain pound fell today as the talks about the anticipated bailout for Ireland undermined the demand for the currency as the safer asset. The decline hasn’t erased yesterday gains as the sterling surged on the yesterday’s session too high and attempted to continue its rally today before falling.

The New Zealand dollar fell today on the concerns that China may raise its interest rates to cool the economy and to slow the inflation.

The Swiss franc dropped today against the euro as the optimism about the possible bailout for Ireland decreased demand for the safe currencies. The franc declined, after it earlier advanced, versus the US dollar on the speculation that the US GDP in the third quarter rose more than previously estimated.