As expected, market movements were quite gloomy on Thursday, especially the US dollar which moved flat due to the US Thanksgiving holiday.
This followed the less than encouraging performance of the US dollar displayed the previous day when the latest data for the US economy failed to provide new stimulus including the PCE price index data and the third-quarter economic growth report.
However, other major currencies were seen not taking advantage of the opportunity to strengthen their respective values in the US dollar's depreciation situation.
The euro was relatively flat due to expectations for further interest rate cuts by the European Central Bank (ECB) even though ECB board member Isabel Schnabel on Wednesday expressed her hawkish view.
The pound managed to rise, but with slow price movements with the same situation occurring for several other currencies such as the Australian and Canadian dollars.
The Yen managed to show a better performance as the Bank of Japan (BOJ) is expected to raise its interest rates at its December meeting.
This was supported by the release of Tokyo inflation data in the Asian session this morning (Friday) which showed the figure rose to 2.1% for November from 1.8% the previous month, also beating the forecast of 2.0%.
The lack of focus on economic data for the final trading sessions at the end of this week will expect an uncertain market atmosphere.
Investors will also be wary of the risk of uncertainty in the closing trade of November.
