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 Australian dollar, often referred as the Aussie, fell for the first time in 5 days against the U.S. dollar and other currencies after China’s comments indicating that the greenback will continue to be the main world reserve currency, damping demand for the Australian dollar high-yielding profile.
The U.S. dollar had a weak performance today losing against most of the major traded currencies, as stocks rose for a third day, mainly in Asia, damping demand for the greenback.
The U.S. dollar had a day of weak performance losing ground to currencies like the euro and the Australian dollar as speculations that a report to be released this Wednesday will indicate a decrease in durable goods orders, affecting the greenback outlook negatively.
The greenback dropped this Thursday as increasing speculations of a world economic recovery increased risk appetite among traders, inducing the purchase of high-yield currencies.
The dollar continued its bearish trend against a basket of currencies after a report on U.S. pending home sales posted the third consecutive monthly rise, improving optimism on markets and extending the current risk appetite wave.
After hitting this year’s low against multiple currencies, the dollar remained stable against the euro, showing a slight correction, yet, the sentiment remains bearish as risk appetite grows.
The dollar fell against currencies in Asia in the beginning of this week’s session, as General Motors may file for bankruptcy this Monday.
The month of May posted the biggest losses for the U.S. currency in a one-year period against the euro, as equities markets continue to rise on optimism about improvements in the global economic situation.
The New Zealand dollar rose for the fourth straight day against its U.S. counterpart and advanced for the second day versus the Australian dollar today, assisted by the signs of the global recession’s easing.
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