This week was “a mixed blessing” for the euro. For the most part, the currency showed a good performance as worries about the debt crisis subsided, but by the end of the week concerns returned.

The euro declined today on concerns that measures planned by the European leaders on the summit yesterday wouldn’t be enough to contain the sovereign-debt crisis.

The Canadian dollar dropped today after the report showed that inflation in Canada slowed more than expected in June, reducing incentive for the nation’s central bank to boost borrowing costs.

The Japanese yen fell today as the summit of the European leaders spurred hopes that the EU will be able to contain the debt crisis, reducing demand for Japan’s currency as a safe haven.

The Australian dollar gained today versus the euro and the Japanese yen as the advance of import and export prices prompted the speculation that the central bank will raise interest rates.

The Canadian dollar reached yesterday the highest level in three years against the US currency, before retreating today, on the speculation that growing inflation in Canada and improving global economy will prompt the central bank to resume interest rates increases.

The euro surged today on the speculation that the leaders of the European Union will increase the size of the rescue fund and will accept a temporary Greece’s default, reducing threat of spreading of the debt crisis to other countries of the region.

The Australian dollar fell today after the report showed a slowdown of China’s manufacturing. The slowdown may curb demand for commodities and that, in turn, would hurt Australia’s economy.

The Great Britain pound weakened today after the report showed that confidence of UK consumers declined last month, signaling that Britain’s economy won’t likely to improve in the near future.

The US dollar weakened today, falling to the lowest level in almost a week against the euro, as hopes that the European leaders would find a way out of crisis diminished need in safe currencies.