Greenback ends week higher
by Elaine Frei
The US dollar and the Japanese yen strengthened during the week amid a rash of central bank decisions on interest but the Australian dollar gained on both. The Australian currency added 1.1 percent over the week to ¥99.70 versus the yen and gained 1.2 percent to $08320 on its US counterpart.
The US Federal Reserve held interest rates at 5.25 percent on Wednesday, while the European Central Bank held rates steady in the Eurozone but the Bank of England raised rates there to 5.5 percent on Thursday. All this activity resulted in a greenback that added 0.5 percent to $1.9830 versus sterling and gained 0.6 percent to $1.3520 against the euro during the week.
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