US dollar mixed on week

US dollar mixed on week

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The Japanese yen weakened considerably this week as Tokyo equities markets advanced after the US Federal Reserve decided on Wednesday to hold interest rates at 5.25 percent. The yen wasn’t even helped by new data showing that real estate prices were up by an annualized 0.4 percent in January, the first gain in property prices since 1991.

The yen was 1.1 percent lower in relation to the euro over the week, to ¥156.72, while it dropped 1.2 percent to ¥117.84 versus the US dollar and by 2 percent to ¥231.20 against sterling. The Japanese currency lost even more, in terms of percentages, to the Australian and New Zealand dollars, dropping 2.2 percent to the Aussie, to ¥94.90 and falling 3.8 percent in relation to the New Zealand currency, to ¥83.86.

The US dollar was mixed during the week, recovering to an extent after a steep decline after the Fed’s rate decision. The greenback added 0.9 percent to SFr1.2180 versus the Swiss franc and it ended the week even against the euro at $1.3310. However, the dollar lost 1.1 percent to sterling, ending the week at $1.9615.

Besides gaining on the US dollar, sterling also added 1.1 percent to £0.6778 over the week in relation to the euro.