Dollar Mixed During Abbreviated Holiday Week

The US dollar was mixed during the past week. Abbreviated trading and absence of any big news meant that there was no change for the market sentiment and fundamentals remained the same for the US currency.

Thanksgiving in the United States resulted in thin trading in the second half of this week. Meanwhile, the greenback continued to be driven by anticipation of an interest rate hike from the Federal Reserve in December, and the Fed’s minutes released this week reinforced such view. While the currency retreated on Friday, most market analysts expect the rally to resume shortly.

The US dollar ended the week almost flat against the euro, the Swiss franc, and the Canadian dollar. Against the very weak Japanese yen, the US currency rallied. The greenback fell versus the very strong Great Britain pound, as well as against the Australian and the New Zealand currencies.

EUR/USD ended the week at 1.0577 after opening at 1.0592. GBP/USD climbed 1% from 1.2342 to 1.2467. USD/JPY rallied as much as 2.1% from 110.91 to 113.21.

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