FX round-up: US dollar RSI pointing towards possible bounce
Cable ended the session little changed as a semblance of calm returned to foreigh exchange markets after a week marked by heavy selling in the US dollar which drove a key technical indicator deeply into 'oversold' territory - possibly heralding that at least a bounce might be in the offing.
Sterling ended the week 0.8% higher versus the greenback at 1.4479, 0.3% lower versus the euro at 77.78p and 1.3% lower against the yen.
Nonetheless, the pound was still to be found near the bottom of the pile versus the currencies of its major peers.
The relative strength index on Bloomberg´s US dollar spot index fell on Thursday to the furthest below the 30-point mark since 2012, to 24.7.
Euro/dollar and dollar/yen were similarly becalmed on Friday after the large moves seen during the week, finishing at 1.128 and 111.562, respectively.
Further afield, the US dollar drifted lower by 0.1% against the Brazilian real after having advanced 1.5% earlier in the day.
On Friday, the Brazilian central bank announced it would sell 20,000 FX- reverse swap contracts on 22 March in a bid to weaken the currency.
A sharp rally in the South American country´s currency on hopes that president Dilma Rousseff might be impeached had seen it become the best performing unit among the G-10, where as the US dollar, somewhat ironically, had been the weakest over the last month.
In Asia, the People´s Bank of China raised its daily fix for the yuan´s value against the US dollar by 0.51% to 6.4628.
To take of, central banks in Mexico and Russia kept their respective policy interest rates unchanged at 3.75% and 11.0% each one.