The US dollar rose at its highest level in two weeks against Euro, after a decrease in the demand for riskier assets before today’s U.S. payrolls report that showed bad news in US unemployment rate.
The US dollar traded at $1.4538 per Euro, after growing 0.7 percent yesterday and reaching $1.4517, the strongest level since September 14. The euro obtained 130.23 against Yen, following a 0.8% drop. The Yen changed at 89.59 per dollar in forex trading.
Mr. Ben S. Bernanke, Federal Reserve Chairman, said that he doesn’t see an immediate risk in the U.S. dollar’s actual condition as the world’s main reserve currency.
Canada’s currency depreciated the most in a week because stocks and crude oil fell after a report showed U.S. manufacturing increased at a slower pace the last month, encouraging speculation about a delayed economic recovery.
The Canadian dollar rose 2.3% in September versus US dollar, trailing eight of the 16 most-traded currencies tracked by Bloomberg. The U.S. dollar gained today as traders covered bets against the currency before a Labor Department report on payrolls.
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