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Session Recap: JPY retreats as risk appetite improves

FXStreet (Córdoba) - The yen was the worst performer on Friday and retreated further erasing most weekly gains. Greenback and the loonie were the weakest over the week.

The US dollar posted modest gains across the board on Friday, but finished the week lower. EUR/USD failed to hold above 1.2800 and pulled back to 1.2740 while GBP/USD climbed to test weekly highs at 1.6125 but ended below 1.6100. Cable rose against the euro and the Swiss franc for the second day in a row trimming weekly losses.

Greenback fell against most of the currencies for the second week in a row but the dominant trend and some fundamental factors, like monetary policy divergence, between the Federal Reserve and other central banks, continue to favor the bullish outlook.

The yen fell across the board for the second day in a row. USD/JPY ended the day moving toward 107.00, less than a hundred pips below the level it had a week ago. The Japanese currency reach during the week the strongest level in month but erased all gains to finish mixed as risk aversion eased and amid a pullback of US government bonds.

The loonie was the worst on Friday and over the week among the most traded currencies, weakened by the decline in crude oil prices. USD/CAD posted the highest weekly close since 2009 but ended below 1.1300. Next week the Bank of Canada will announced it decision on monetary policy.

Main headlines in the American session

">GBP/USD another attempt to 1.6100

USD/CAD ends the week off 5-year highs

EUR/USD bounces off 1.2740

">AUD/USD erases gains

">NZD/USD hovering around 0.7940

">Gold falls to USD 1235

">USD/JPY hits fresh highs after US consumer confidence data

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