Dollar Ends First Full Trading Week of 2015 Mixed

It looked like the first full trading week of 2015 would be another positive one for the US dollar, yet the greenback stumbled by the weekend, finishing trading mixed.

The dollar started the week on a strong note, and it looked like nothing could stop its march upward. Yet the rally halted on Friday despite very positive non-farm payrolls. The long-term outlook for the US currency remains bullish, yet those who hoped to profit from the dollar’s rally in the short-term might be frustrated.

The greenback retained its strength against the euro, the Great Britain pound and the Canadian dollar. Yet the US currency declined versus the yen (even though initially it looked like the Japanese currency would end the week with losses), the Australian and the New Zealand currencies.

EUR/USD dropped from 1.1941 to 1.1843 (1.3 percent), reaching the low of 1.1754 — the lowest level since December 2005. USD/JPY declined from 120.49 to 188.55 (1.6 percent). AUD/USD climbed from 0.8069 to 0.8204 (1.3 percent) following the drop to 0.8032 — the weakest rate since July 2009.

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