The US Dollar is lower against the Pound and is having a mixed session against the other major currencies due to light trading as a result of the US markets being closed for the Labour Day weekend.
Monday’s session was relatively muted with market attention continuing to focus on events in the Middle East. The Dollar weakened slightly as fears of an imminent military attack against Syria softened after President Barrack Obama said that he would put the decision to a Congressional vote. As a result any strikes are likely to not take place until next week at the earliest. Congress will debate the situation when it returns from its summer recess on the 9th of September.
The Pound remained higher against the U.S. Dollar on Monday, as upbeat U.K. manufacturing data continued to support demand for Sterling.
Against the Euro the ‘Greenback’ was little moved and was trading just a bit higher against the single currency. The Dollar’s strength came despite data out of the Eurozone showing that manufacturing in the region hit its highest level since July 2011. According to the Markit research groups PMI output rose to 51.4 in August, up from July’s figure of 51.3.
Against the commodity based currencies such as the Australian, New Zealand and Canadian Dollars the ‘Greenback’ weakened as they made rallies in the wake of positive PMI data out of China. The world’s second biggest economy posted a PMI of 50.1, rising to a four-month high.
Current US Dollar (USD) Exchange Rates
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6429
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7567
The US Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.1137
The US Dollar/Japanese Yen Exchange Rate is currently in the region of: 99.2137
The US Dollar/Canadian Dollar Exchange Rate is currently in the region of: 1.0538
(Correct as of 14:25 pm GMT)
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