The US dollar performed decently over the past trading week but was outperformed by the Australian and New Zealand currencies, which were the strongest on the Forex market during the week.
The policy statement from the Federal Open Market Committee provided a moderate boost to the greenback. While the FOMC did not change monetary policy, it signaled that plans for further interest rate hikes remain intact.
The Aussie and the kiwi were supported by the rebound in Asian stocks. The New Zealand dollar also got support from very positive employment data. The Australian dollar had its own positive factor too in the form of optimistic economic projections from the Reserve Bank of Australia, but that was countered somewhat by negative macroeconomic data released in China.
The Great Britain pound was rising during the week due to hopes for a Brexit deal but retreated by the weekend as such hopes were waning. The disappointing GDP report hurt the currency as well.
The Canadian dollar was among the weakest currencies, dragged down by falling prices for crude oil.
EUR/USD opened at 1.1387, rallied to the high of 1.1500, but retreated to end the week at 1.1335. AUD/USD opened at 0.7191, reached the weekly high of 0.7302, but backed off to close at 0.7224. NZD/USD advanced from 0.6635 to 0.6737, touching the weekly high of 0.6818. GBP/USD edged down from 1.3022 to 1.2971 after touching the weekly maximum of 1.3175.
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