Dollar rises for the week recovering from multi-month lows

Dollar ended the week at the highest levels and strengthen due to sharp rises on Thursday and Friday. Earlier in the week, USD fell to multi-month lows against EUR, CHF, AUD, CAD, and GBP. On Friday, the non farm payroll report number was better than the expected for the market boosting the greenback. Markets in the U.S. ended mix with the Dow Jones rising 0.15% and the Nasdaq losing 0.03% on a volatile session. Wall Street closed the week at high levels.

Despite recent increases the Dollar is still facing selling pressures across the board. On Friday against the Euro, managed to stay below 1.4000 extending previous gains. EUR/USD lost 1.70% from the opening price, falling almost 250 pips since the European session.

GBP/USD couldn’t hold above 1.6000 and fell reaching an intra-week low at 1.5940. The pound accumulates a fall of more than 700 pips after reaching 7-months highs at 1.6657 on Wednesday. On Friday the pair fell more than 1%.

Against the Yen, the Dollar rocketed on Friday. USD/JPY rose more than 2.20% from the opening price and reached 98.80, the highest price since mid May. Greenback rallied after breaking above 96.90/97.00 rising more than 180 pips in a short period of time.