US dollar gains on euro, sterling; drops versus yen

The US dollar saw gains against the euro and sterling as well as it was 1.4 percent higher to $1.3500 in relation to the euro and added 1.9 percent to $1.9857 versus sterling as investors looked for a safe place for their money in US Treasury bonds.

The greenback dropped against the Japanese yen, however, as the yen made major gains during the week thanks to an exodus of investors from risky carry trades

The yen added 4 percent on the week versus the US dollar to ¥113.65.

Both the euro and sterling declined in relation to the yen, with the shared currency falling 5.3 percent to ¥153.50 and the pound dropping 5.8 percent during the week to ¥224.60, while the Australian dollar was down 10.3 percent to ¥89.62 and the New Zealand dollar was 11.5 percent lower to ¥78.18.

Another safe-haven currency, the Swiss franc, made some gains during the week but it fell 0.8 percent in relation to the US dollar, to SFr1.2064, while it added 1 percent to SFr1.6245 to the euro and gained 1.6 percent to SFr2.3876 versus sterling.

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