The US dollar ended the week-long downturn on Friday, lowering the two-year low.
The US dollar index, which measures the greenback against the major, recorded an increase of 0.18% to the 89.89 exchange rate after declining more than 1% throughout the week. As of Thursday, the US dollar had reached its two-year low of 89.723.
Updates from the central banks of the United States, Japan, Britain, Switzerland and Norway this week have to some extent pushed the recent currency market trend and the long-term depreciation of the US dollar.
In line with market forecasts, the Japanese central bank (BOJ) has decided to stay with its current monetary policy of -0.10% and the target of 10-year government bond yields around 0%. The BOJ has also agreed to extend the deadline for its corporate financing package which should end in March 2021, up to 6 months.
Following the BOJ decision, the Japanese yen recorded a depreciation against the USD and was also influenced by investors who wanted to take advantage.
The Pound began to depreciate against the US dollar and the Euro as discussions on the Brexit trade agreement between the UK and the European Union continued.
British Prime Minister Boris Johnson has issued a statement saying trade talks "seem difficult" but the door to further talks is still open.
