The US dollar was modestly higher versus the Euro, Yen and Swiss franc on Friday. Basically, nothing much happened across the currency majors as the forex market looks forward to the G7 meeting this weekend. USD/CAD fell today after news that the Canadian economy unexpectedly created 46,400 jobs in January and the jobless rate declined to 5.8% from 6%.

Yesterday, San Francisco Fed President Janet Yellen said the US economy will probably avoid a recession. She said the Fed’s interest-rate cuts should help growth pick up later in the year. Dallas Fed President Richard Fisher also said yesterday the expansion was poised to return to its long-term trend in the second half of the year because of the rate cuts.

Posted in Categories: Forex.

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