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Dull finish to the week, but the dollar is....>

FOREX
FOREX: Dull finish to the week, but the dollar is the clear winner
-Majors finished Friday mixed, but the USD's run remains in tact after the DXY
notched a rise of over 1.5% since Monday. This puts the greenback on track for
the strongest weekly close since late December - a move that placed both the EUR
and GBP under further pressure. USD/JPY had a strong start, with firm demand in
Asia ahead of market holidays (Goto-bi Day) but much of this was erased
throughout the European and US sessions, seeing USD/JPY dip comfortably back
below Y111.
-The CAD underperformed on the back of a weaker set of CPI figures, prompting
USD/CAD to briefly break back above C$1.29 for the first time since Tuesday.
Compounding the move are today's weaker energy prices, with WTI retreating
slightly off multi-month highs. Emerging market FX took another dive. Firmer oil
and rallying US yields hit those with significant foreign currency debt (BRL,
TRY in particular), dragging the likes of ZAR and RUB lower.
-Eurozone preliminary PMIs and UK inflation numbers are the highlights next
week.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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