The US dollar was broadly lower during the Friday’s trading session as the positive market sentiment was encouraging traders to take risk and buy assets that are offering higher yield, making the safety of the US currency less appealing.
The dollar was seriously hurt on Wednesday by the release of the Federal Reserve’s policy statement. While the Fed dropped the phrase about ‘patience’ as was expected, market participants still considered the statement less hawkish that they have anticipated. The greenback was not able to recover since then.
Today’s session was not positive to the US currency either as the trader’s mood was in favor of riskier currencies, not safer ones. Positive data from Germany and the progress in the Greek debt talks made the euro especially strong against the dollar.
EUR/USD rallied from 1.0657 to 1.0810 (1.4 percent) as of 20:06 GMT today. USD/JPY dropped from 120.79 to 120.05 and USD/CHF declined from 0.9900 to 0.9768.
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