US Dollar Falls
The US Dollar Index fell to 78.293 from 78.749 last week. Despite the US dollar’s fall this week, it still remains relatively strong versus the 73.227 index level of a year ago.
The British pound showed significant recovery this week rising from 1.643 against the dollar to 1.670. Of course, the US dollar still remains strong versus the UK pound levels of a year ago when 1 pound sterling converted to $1.984.
The euro finished the week steady at 1.426 versus 1.420 last week. While it has been gaining against the US dollar it still remains below year-ago levels of 1.560.