EUR/USD

Euro Set for Longest Losing Streak in its History, U.S. Payrolls Loom

The euro was heading on Friday for a record twelfth week of declines against the dollar, unless U.S. jobs data later in the day push the currently all-dominant greenback lower.

The European common currency was last up a fraction on the day at $1.0575, moving off Tuesday's 10-month low of $1.0448 but still set for a further small weekly decline making that streak the longest since its launch in 1999.

The euro/dollar moves have largely been dollar-driven, and the dollar index, which tracks the unit against six main peers, albeit with the greatest weight given to the euro, is heading for a 12th straight week of gains.

The last time it clocked such a milestone was in 2014.

The dollar's recent strength has been underpinned by a rapid sell-off in U.S. government bonds, which sent yields to multi-year highs.

The pound , which hit a six-month low earlier in the week before rebounding, was up 0.16% at $1.2211.

The Japanese yen remained under pressure with the dollar up 0.36% against the yen at 149.04.

Dollar/yen's sharp sudden Tuesday dip to 147.30 stoked speculation that Japanese authorities could have intervened in the currency market to shore up the battered yen, though data from the Bank of Japan (BOJ) seemed to suggest otherwise.

Elsewhere, the Swiss franc was steady on the day at 0.9119 per dollar and the Australian dollar was down 0.2% at $0.6359, but set for a 1.2% weekly decline.

Source : Reuters

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