Currency Analyst since 2010

USD remains near 1-week lows

US dollar weakened on Thursday versus the major currencies after American data once again disappointed: American building permits & housing starts came lower than expected, while unemployment claims rose. On Friday the greenback remained near 1-week low: traders await inflation figures at 12:30 GMT. The market’s now expecting that the Federal Reserve will start raising interest rates later than in June.

Also note that today is the meeting of G20 finance ministers and central bankers with a statement and news conference scheduled at around 17:00 GMT.

EUR/USD found some resistance in the 1.0800 area. There are still many concerns about Greece. The nation's borrowing costs soared Thursday as yields on its bonds climbed to their highest point since 2012. USD/JPY is trading below 119.00. AUD/USD is trading in the 0.7800 area after it surged on Thursday on Australian strong labor market data.

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