Dollar continues goes down for Sixth Week vs. Euro, Falls vs. Pound & Yen:8/8/2010

 The dollar extended its losses against the other currencies as the macroeconomic reports continue to suggest that the US recovery is fragile and the additional stimulus may be required.

On Monday, the good reports weren’t able to aid the currency much, but boosted it slightly against the yen. Next day pushed the dollar down with the disheartening figures. The unexpectedly good employment reports on Wednesday sparked the optimism, which were removed on Thursday and turned in the pessimism yesterday as the reports showed that everything not that good with the job market in the US.
The greenback showed the same trend against other major currencies: the continuous decline for the whole week, except for Wednesday, when the currency jumped. The dollar also rose versus the yen on Monday, albeit not much.
EUR/USD rose from 1.3061 to 1.3292, advancing for the sixth straight week. GBP/USD jumped from 1.5895 to 1.5965 after falling as low as 1.5839 this week. USD/JPY dropped from 85.84 to 85.39, following the decline to the weekly low level of 85.02.
If you want to comment on the US dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.