Weekly FX roundup: Euro falls despite possibility of IMF, EU Greece rescue

29 March 2010

The majors all traded in a lower range against the US Dollar this past week. Largely overshadowed by sovereign debt issues, the markets experienced an erosion of risk appetite as investors flocked to safe haven assets before reversing towards the end of the week as solutions regarding Greece's debt issues slowly emerged from Brussels during the EU summit. EURUSD touched a ten-month-low at 1.3267, shedding close to 0.77% to close its second week lower at 1.3409. GBPUSD also came under a pressure closing 0.61% lower at 1.4901, while perhaps the standout performer was USDJPY which closed at 92.51 after posting a high of 92.95.

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