As the market enters the European session, major currencies again show up after a downtrend in the Asian session following investors taking profits ahead of the weekend trading close up driving the greenback dollar.
Nevertheless, due to the prospects for a deal in the US stimulus package to be achieved and some positive economic data, major currencies continue to garner support to remain trading high.
Towards the end of the week, traders continued to pay attention to any progress in discussions of US fiscal stimulus and Brexit trade negotiations to determine the direction of the market for the last weeks of the year.
The euro traded positive again at the start of the European session following the weakness of the US dollar despite a small spike in the giant currency during the Asian session.
The pound is now on track for its best weekly rise in six months after being backed by market expectations of a Brexit trade agreement before the end of the year.
On the other hand, the Bank of Japan (BOJ) continues to expand its assistance scheme for corporate lending and maintains its stance on the central monetary policy of the central bank as widely expected by the market.
Commodity currencies, on the other hand, are seen to be a bit hesitant to rise again as the market enters the European session after selling in the Asian session. However, the currency trading remained strong around the annual highs reached on Thursday.
Against a basket of major currencies, the greenback dollar traded positively at 89.89, still hovering around its 2 and a half year low.
