Major FX Currencies Performance the Previous Week Relative to US dollar - 10.9.2012
The best performing counterpart of the US dollar the previous week was the precious metal as increasing speculation on QE3 by FED coming soon boosted the value of Gold from $1690 per ounce to 1739 per ounce. Gold was followed by the 17-nation currency (1.98% profits) which was well supported by ECB president plan on bond buying. Next winner against the greenback was the Swissy advancing 1.13% as USDCHF fell from 0.9550 to 0.9442.
Furthermore, the Aussie early on previous week was losing however after ECB press conference and weak NFP advanced on increased risk appetite gaining 1.01%. Fifth winner was the British pound gaining up to 0.88% which is immediately followed by the Loonie (0.86% gains) as the USDCAD dropped to freshly 1-year lows. Finally the Yen appreciated 0.62%, completing the list of no losers the 1st week of September against the greenback.