Technicals

The Dollar rose on Friday, heading for its largest weekly gain versus the Euro in a month, after a smaller-than-expected quarterly loss from Citigroup eased worries about the US financial sector. Citi's results added to positive earnings news this week from Wells Fargo and JPMorgan Chase. That allowed the Dollar to regain some strength after slumping to a record low against the Euro on Tuesday. EurUsd rose only 0.18% to 1.5853, well off its record high of 1.6039 set on Tuesday.

UsdJpy was up 1.08% at 106.24. UsdChf rose 0.25% at 1.0225. GbpUsd rose 0.05% at 1.9983 after hitting 1.9907 low.

The Euro was capped by European Central Bank President Jean-Claude Trichet's comments published on Friday that euro-zone growth is likely to be weak in the second and third quarters before staging a recovery. Risks to growth were on the downside, Trichet said in a joint interview with four European newspapers. For the week, EurUsd has lost 0.71%, while the GbpUsd rose 0.37% edging down from previous days on speculation the UK government would increase borrowing. Analysts said despite the Dollar's recovery on Friday, sentiment on the currency was still shaky.