The euro fell against the US dollar for the fourth week in a row, posting the longest losing streak in 18 months. The currency also fell against the Japanese yen, declining for the third week. But the UK pound managed to perform even worse than the shared European currency, therefore the euro was up versus the UK currency this week after three weeks of losses.(...)
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The Great Britain pound closed higher against most of the major currencies, including the Japanese yen, the euro and the Swiss franc, though fell versus the US dollar, as the ongoing debt issues in the European Union made traders to consider the sterling something like a refuge from Europe’s problems.(...)
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The euro dropped against the dollar and the yen to the lowest rate since October and retreated versus the pound today as there are no sings that the crisis in Europe may end.(...)
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Risk aversion was the main driver today on the Forex market, as the week came to a close. With risk aversion rising, the Canadian dollar dropped, ending the week on a lower note against the US dollar.

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US dollar is heading higher on the Forex market, gaining as traders look for safe haven in the face of more European troubles. This time, it’s a credit rating cut for Belgium.

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Read the rest of US Dollar Gains as Europe Continues to Struggle (151 words)