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Dollar retreats despite fears from job market – weekly

The dollar finishes the week lower against most currencies this week. The fear that ruled last week wasn’t fueled by the terrible American job market, and the blurry rate decision by the Fed. The horizon isn’t clear with this jobless recovery. Here’s an overview of this week in forex trading.

The US Dollar Index retreated this week from 76.21 to 75.74, similar to the close about two weeks ago, before last week’s big comeback. It’s hard to say that last week’s surge was a short episode, or that this week’s stall was only temporary.

The rate decision by the Federal Reserve was expected: no change of wording – almost copy pasted from the previous FOMC Statement. In my post about 4 scenarios for the Fed decision, I gave this option the highest probability, but I hoped for something more interesting.

Some currencies did better than others this week:

That’s it for this week. Weekly  forecasts will be published towards the opening of the new week. Have a great weekend!

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.