With Christmas round the corner the markets have begun to shut up shop in the US, Europe and elsewhere leading to muted trading in the foreign exchange market.
Against the Pound the ‘Greenback’ is little moved but managed to make slight gains against the Euro and commodity based currencies such as the Australian, New Zealand and Canadian Dollars.
Against the Japanese Yen the US currency climbed towards a five-year high as traders increased their bets that the USA’s and Japanese monetary policies will diverge as the Federal Reserve begins to taper its monetary easing programme and the Bank of Japan continues on with its own massive quantitative easing programme.
The U.S. currency gained versus most of its major peers ahead of the publication of a report today that economists said will show orders for durable goods rebounded in November. The Yen weakened for a second day following eight consecutive weeks of losses.
“As we go into year-end it seems the Dollar is holding on to its gains after the Fed tapering, this suggests that 2014 will see the Dollar starting on a healthy footing,” said the chief economist at FxPro Group Ltd.
US Dollar (USD) Current Exchange Rates
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6122
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7302
The US Dollar/ Canadian Dollar Exchange Rate is currently in the region of: 1.0600
The Pound Sterling/US Dollar Exchange Rate is currently in the region of: 1.6331
The Euro/ US Dollar Exchange Rate is currently in the region of: 1.3692
(Correct as of 14:50 pm GMT)
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