The U.S. dollar closed out another week higher against the yen despite a major correction on Friday following data that showed 33,000 jobs were lost in the U.S. because of hurricanes Harvey and Irma. Buoyed by expectations for another rate increase in December as well as a string of record highs on Wall Street, the dollar edged out the yen by a slim 0.1% giving USD/JPY its fourth consecutive week in the green.

The euro was plagued by the worst political crisis in Spain in more than 40 years which weighed on EU-zone bourses and drove Spanish bond yields sharply higher. EUR/USD fell to its lowest level in nearly two months and lost another 0.7% in value from last Friday’s close.

Sterling was also on the defensive amid rumblings UK Prime Minister Theresa May will be forced out, and a string of bearish data points could encourage the Bank of England to walk back recent rate hike chatter. Cable spent its third week in a row in negative territory, losing 2.4% and bottoming out at its 100-day moving average for the first time in more than a month.


Fatal error: Call to undefined function printFooterForm() in /home3/boost/public_html/westoverreview.com/wp-content/themes/alpha/single.php on line 57