Dollar Among Biggest Losers During Trading Week

The US dollar was one of the weakest currencies on the Forex market during the past trading week, competing with the New Zealand dollar and the Japanese yen for the place of the biggest loser. Meanwhile, the euro and the Great Britain pound were the two strongest currencies.
As it has been happening lately, the US currency was hurt by poor economic reports from the United States. Stagnating retail sales and deflation of producer prices were had the biggest negative impact on the currency.
At the same time, the euro rallied on the signs of economic growth in the eurozone and rising bond yields. The sterling was strong too but had a pressure from the negative revision of the economic growth outlook by the Bank of England.
The New Zealand dollar was attempting to rally on the back of the dollar’s weakness but was hurt by the unfavorable Financial Stability Report from the Reserve Bank of New Zealand.
EUR/USD rallied from 1.1199 to 1.1448 and GBP/USD gained from 1.5443 to 1.5735 during this week. USD/JPY ticked down from 119.69 to 119.33. NZD/USD edged up from 0.7457 to 0.7482, rising as high as 0.7562 and falling as low as 0.7316 during the trading week.

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