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Strongest and weakest currencies this week

USDJPY News by Newsroom on 19:05 June 11, 2015 EST

The most dramatic currency moves this week originated from central banks activities.

Earlier in the week Bank of Japan's Governor Kuroda signaled the institution is now happy with the exchange rate of the Japanese yen in relation to the US dollar. Consequently, then yen strengthened and the pair dropped more than 2 cents in the aftermath with traders speculating that the voracity of the quantitative easing in Japan could slow in the near future.

The following day in New Zealand the RBNZ surprised the markets by dropping a by a quarter its cash rate and leaved the door open to further cuts. As a consequence the kiwi was dumped by investors as it became less atractive.

In all, the Japanese yen gets the top position among the majors and the New Zealand dollar is now the weakest of the pac.