Dollar higher after suffering worst week in a year

Currencies Direct May 28th 2013 - < 1 minute read

The dollar was broadly up against most major currencies on
Tuesday (May 28th), after the greenback ended last week with
its worst run in a year.

Volatile Japanese stocks and bonds saw USD/JPY dip to
100.68 on Friday and close down nearly two per cent for the

But the dollar pared back some of the losses and rose one per
cent to 101.95 in Tuesday’s Asian session amid light trading
following holidays in the US and the UK.

exchange rate
with the dollar pushed higher in quiet trade on
Monday, pulling well clear of Friday’s trough of 1.5062 to
1.5156 at one stage, before sliding back towards the 1.5100

Meanwhile the euro was down against the dollar, with
EUR/USD trading around 1.2909 after European Central Bank
executive board member Joerg Asmussen said the
bank’s expansive monetary policy will stay in place as long as

But he did caution against the idea of negative interest
rates, saying keeping “rates low for too long would
create new risks”.

Written by
Currencies Direct

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