Despite stronger-than-expected data from the United States, which is suggesting the Fed could soon begin tapering its stimulus programme, the single currency managed to climb to 1.3677 last week, hitting the highest since October.
December is usually followed by low trading volumes. This statement was supported by relatively calm trading sessions during the first week of the year's last month.
The Reserve Bank of Australia should be satisfied somehow with the recent performance of Aussie, which is considered to be at an "uncomfortably high" level, as currency plunged to 0.900 versus the greenback amid nation's trade gap almost doubling in October.
One of Japan's leading economists, Richard Koo, pointed out that the world's third largest economy is on the path to sustainable recovery, as economic policies are spreading throughout the country.
The U.K. policy makers refrained from additional stimulus measures, widely meeting analysts' expectations, as Chancellor of the Exchequer George Osborne upgraded a growth forecast.
There is a higher possibility now the Federal Reserve will put tapering on the table during December policy meeting, as third quarter growth and jobless claims surprised markets to the upside.
The single currency advanced against the U.S. Dollar on Thursday, hitting 1.3650, the highest level since October, even despite the strong fundamental data from the United States.
The Australian Dollar extended its decline against the U.S. counterpart and hit the psychologically important level of 0.90 on Wednesday, as a report showed Oz economy expanded at a slower-than-expected pace last quarter, intensifying debates the RBA will have to do more to spur growth.
Canadian trade balance unexpectedly turned into surplus for the first time in 22 months in October, as the total value of imports fell for a second straight month.
The Sterling retreated from its 27-month high and was traded at 1.6364 on Wednesday after the data from Markit showed Britain's dominant services sector continued its rapid growth last month, albeit at a slightly slower pace.
Even in the face of what happened in Washington in October, the world's largest economy is performing surprisingly well, as private sector job creation surged in November, while sales of new homes soared by the most in three decades.
A pickup in inventories and stronger inflow of investment kept the 17-nation economy's growth in positive territory in the third quarter, even though the pace of growth remains sluggish.
The Australian Dollar plunged 0.35% versus its U.S. counterpart, hitting the lowest level since the beginning of September after the Australian central bank signalled the currency is still "uncomfortably high", meaning more rate cuts are possible.
Shinzo Abe and Haruhiko Kuroda will do whatever it takes to boost inflation in the world's third largest economy and promote economic growth.
The Pound has climbed to the recent high at 1.6436 on Tuesday; however, was not able to inch any higher, even as activity in the construction sector rose at the fastest since August 2007 in November.
The U.S. Dollar advanced to the strongest level versus the Yen in more than half a year as investors are making their bets on whether the recent signs of economic pickup will be enough for the Fed to cut the pace of the monthly bond-buying programme.
Another gleam of hope for the 17-nation bloc emerged on Tuesday, as Spain's labour market improved in November, as unemployment change posted its first monthly drop in this period since the current system was introduced in 1997.
Activity at Swiss manufacturing sector expanded for an eight consecutive month in November, posting even stronger growth than a month earlier, suggesting a modest recovery is underway, while improvement in the economic sentiment is pointing at a greater confidence.
Confident in reaching the inflation target as planned?
The Pound hit the highest level in 27 months against the U.S. Dollar, advancing to 1.6441 after a survey from Markit showed manufacturing activity expanded at the highest pace since February 2011, suggesting the recovery is maintaining momentum in the final quarter.
It was not a surprise that Bernanke's speech, which was highlighted in all economic calendars as a high importance event, had practically no impact on markets on Monday.
Eurozone factory orders expanded for a fifth month in a row in November, with the corresponding gauge accelerating at the fastest pace for more than two years, a survey from Markit showed Monday.
Canadian policymakers were disappointed with growth figures in the second half of the year, but the stronger-than-expected August GDP data fuelled hopes for a solid growth in the third quarter.
Japanese households are finally facing the prospects of sustained inflationary pressures for the first time in almost a generation, as Shinzo Abe's three-arrow programme is making substantial progress in stamping out deflation in the world's third largest economy. Moreover, other sectors of the economy are also showing signs of stabilization.