This week, the euro was strong against safer currencies, like the US dollar and the Japanese yen, and also against the Great Britain pound with help of the European Central Bank policy decision, but declined versus the Australian dollar, which was also supported by their central banks.
Some market participants have expected that the ECB would ease its monetary policy further. Not only the central bank refrained from an interest rate cut, but its President was not particularly dovish at the press-conference that followed the policy meeting. The shared European currency still remains in danger from the poor economic state of eurozone.
The Bank of England and the Reserve bank of Australia also made no change their policies. This allowed the the Aussie to outperform the euro, but did not help the sterling too much.
The worse-than-expected US nonfarm payrolls added to the gains of the euro against the greenback.
EUR/USD went up from 1.3480 to 1.3638 this week. EUR/JPY went up from 137.48 to 139.47 after reaching the intraday low of 136.22. EUR/GBP went up from 0.8207 to 0.8307. EUR/AUD declined from 1.5377 to 1.5221.
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