Forex Market Update : Epic Research Malaysia

After recording 12 straight weeks of growth, the U.S. Dollar Index finished the week lower for the first time since early July Friday as investors sold the currency on concerns it had become overbought following last week’s better-than-expected jobs report.

Monday was the dollar’s worst day of the week. It saw the ICE U.S. Dollar Index fall from a high around 86.90 to a low around 85.70 as investors’ profit taking morphed into a short squeeze for those who bet against the dollar’s rivals. The dollar index DXY, +0.31%  was at 85.9100 Friday afternoon, up from 85.5220 late Thursday.

The dollar USDJPY, -0.16%  traded flat against the yen Friday afternoon, hovering around 107.77 yen, compared to ¥107.87 late Thursday.

The shared currency traded at EURUSD, -0.49%  $1.2614 and EURGBP, -0.27%  £0.7859 Friday, compared to $1.2688 and £0.7871 late Thursday.

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