The US dollar saw a potentially important turnaround through late-week trade, setting the stage for continued strength in a pivotal week for fundamentals and perhaps broader market sentiment.

The euro hit fresh multi-month highs amidst a considerable improvement in European sovereign debt markets, defying expectations and becoming the top-performing G10 currency in the five-day stretch.

The US dollar fell sharply against the euro on a sudden improvement in Euro Zone sovereign debt markets, but a sharp late-week reversal suggests dollar bulls have not yet given up the fight.

The euro fell sharply against the US dollar in the year's first week of trading, setting the stage for a negative month of January and potentially further losses through 2011.

The US dollar finished 2010 on a weak note, falling against all G10 currency counterparts in the final week of trading.

The euro finished the week almost squarely where it began, sticking to a wide and choppy range despite being among the worst performers in an uneventful week of price action.

The euro finished the week almost exactly where it began, confounding trend traders in an exceedingly choppy range against the US dollar.

The US dollar rallied against almost all G10 currencies despite a strong week for risk as the S&P 500 closed at fresh multi-year highs through Friday's close.

The euro rallied sharply against the dollar after several weeks of sharp declines, bringing a much needed correction amidst seemingly unidirectional moves in currency markets.

The bruised and beaten US dollar launched a vigorous counter-attack against the major currencies having found a bottom in early November as a four-month surge in risk appetite found itself without fuel to continue.