The U.S. Dollar finished Friday’s session lower on signs of economic stabilization in China and a strong start to the U.S. corporate earnings season boosted demand for riskier assets.
In other news, the U.S. treasury secretary Steven Mnuchin said that the U.S. is willing to face the consequences from China if it fails to comply with the terms of a likely deal to end the trade war between the world’s two biggest economies.
The U.S. Dollar Index which measures the strength of the Greenback against a basket of six major currencies weakened and finished the session at 96.58.
Over in Europe, the single currency advanced against the U.S. Dollar driven by an anticipated currency demand arising from a Japanese bank’s plans to purchase a German multibillion-dollar aviation finance business. EURUSD closed the session at 1.12970.
Meanwhile, the Sterling edged higher against the U.S. Dollar as the risks around Brexit diminished after the delay of the departure date and as the dollar suffered from a round of technical selling. GBPUSD closed the session at 1.30700.
Regarding Safe-havens, the Swiss Franc rose against the U.S. Dollar to settle at 1.00230 USDCHF. On the other hand, the Japanese Yen plummeted against the Greenback to settle at 111.979 USDJPY.
Gold prices edged lower against the U.S. Dollar on Friday, as gains on Wall Street equities offset the impact of a weak dollar. The precious metal closed the session at 1290.20.
Meanwhile, the Canadian dollar strengthened against its U.S. counterpart, as oil prices rose and U.S. stocks jumped to near record highs. The USDCAD closed the session at 1.33234.
Over in Asia, the Aussie Dollar surged against the U.S. Dollar and closed Friday’s session at 0.71693 AUDUSD.
Cryptocurrencies ended Friday’s session lower. Bitcoin, Litecoin, and Ethereum fell to settle at 5025.21 BTCUSD, 76.98 LTCUSD, and 161.43 ETHUSD respectively.
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