Forex Market Update : Epic Research Malaysia

The euro closed higher against the dollar Friday, but finished lower on the week, after the Eurogroup announced it had agreed to a four-month extension of Greece’s bailout.

The shared currency EURUSD, +0.11% traded at $1.1377, down from its session high of $1.1430. It had traded at $1.1369 Thursday. Greece’s bailout agreement is set to expire on Feb. 28. The shared currency recorded a 0.1% weekly loss against the U.S. dollar.

The ICE U.S. Dollar Index DXY, -0.09% a measure of the dollar’s strength against a trade-weighted basket of six currencies, finished lower for the fourth week in a row. The index was down 0.05% to 94.3490.

The dollar USDJPY, +0.04%   finished the session at 119 yen, unchanged from Thursday’s close, because of the market’s focus on Greece Friday, rather than the U.S. economy.

The pound GBPUSD, -0.11%  traded at $1.5399, compared with $1.5417 Thursday.
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