Forex - UFXBank - Weekly Review -10-July-2011

Jul 10, 2011

For more Forex news and information, please visit http://www.ufxbank.com... The Euro fell the most in almost a month against the dollar due to concerns that the European debt crisis may continue to worsen. Banks in Italy plummeted as the fallout from Europe's debt crisis threatened to spread to the region's third-largest economy. The shared currency steadily fell each day and declined nearly 2% percent on the week. The EURUSD pair was last trading at 1.4261.
The Pound made gains on Friday against the US Dollar after a report showed that U.S. employers added the fewest jobs in nine months and the unemployment rate had unexpectedly increased to 9.2 percent, the highest level this year, adding to signs that the U.S. economy is struggling to emerge from recession. The Pound's advance on Friday made up for earlier losses in the week and the pair finished almost unchanged at 1.6056.

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