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Forex: Friday’s review
The dollar retreated from a three-week high against the euro after data showed that the U.S. unemployment rate in December was 7.8%, while it was expected that the rate will remain unchanged. Meanwhile, an unpleasant surprise was an upward revision (to 7.8% from 7.7%) than last month. Note that this situation increases the likelihood that the Federal Reserve will further stimulus measures in the near future.
The euro rose after reports released the last Fed meeting showed that the central bank could finish his third round of monthly bond purchases, known as quantitative easing later this year. The dollar rose to its highest level against the yen since July 2010, and therefore, the Japanese currency headed for its most prolonged weekly decline for the last 24 years.
The dollar index, which is used to track the value of the U.S. currency against the currencies of the partner, increased by 0.3% to 80.617.
The Canadian dollar has appreciated by 0.2% against the dollar after government data showed that the unemployment rate unexpectedly fell in December (up 7.1%), reaching a four-year low at the same time. At the same time, the number of jobs increased by 39,800.
Sterling fell against all major peers except the yen after a report showed that activity in the UK services sector unexpectedly fell in December.
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