The US Dollar Drops

Written by forexwatch on 23 May 2009

Headlines on the Drop of the US Dollar

The news headlines for last week trade was more on the US Dollar. As reported in Bloomberg: The Dollar Weakens and GBPUSD: Dollar Weakens and Pound Strengthens, trading for last week and on Friday in particular was not in favor of the US Dollar. The Dollar continued its decline against all the major currencies.

The US Dollar Weakens

The Dollar declined against the Euro
The Dollar drop by 0.9 percent to $1.4021 against the Euro from $1.3890 yesterday, after reaching $1.4030, the weakest level since Jan. 2.
The U.S. Dollar declined by 3.6 percent against the Euro this week. .

The Yen Stronger against the Dollar
The Yen advanced 0.2 percent to 94.57 per dollar, from 94.41, after touching 93.86, the strongest level since March 19. .

The Strong Canadian Dollar
The Canadian Dollar advanced today to C$1.1205, the strongest level since Oct. 9. .

New Zealand’s New High against US Dollar
New Zealand’s currency climbed to 62.38 U.S. cents, the highest level since Oct. 21.

The Australian Dollar New High against US Dollar
The Australian Dollar reached 78.67 U.S. cents, the highest level since Oct. 2.

The decline of the US Dollar is expected to continue in the short term.