The US Dollar was softer against the Pound and Euro on Monday due to the session seeing muted trading as investors wait for the release of the US Federal Reserve’s policy meeting minutes for July; the report is not out until Wednesday evening. Against the rest of its peers the ‘Greenback’ was mixed.
Investors are hoping that the minutes will give some indication as to whether the Central Bank will begin to taper its monetary easing programme in September. Expectations that the Fed will choose to taper received a boost following the release of data which showed that weekly jobless claims in the USA fell close to a six-year low.
Against the Euro the Dollar softened after the German Central Bank, the Bundesbank said that Germany and other Eurozone nations will benefit from the record low interest rates set by the European Central Bank. The Bundesbank also said that it expects the German economy to return to normal levels of growth over the second part of 2013.
Against Sterling the ‘Greenback’ was trading close to a two-month low after the UK currency continued to be supported by last week’s data releases, including the report showing that jobless claims in the UK fell more than expected in July.
Against the New Zealand, Australian and Canadian Dollars the US currency was mixed. Up against the South African Rand the ‘Greenback’ strengthened above the R10/$ level over renewed concerns of possible labour unrest.
Current US Dollar (USD) Exchange Rates
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6389
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7490
The US Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.0931
The US Dollar/Japanese Yen Exchange Rate is currently in the region of: 97.9057
The US Dollar/Canadian Dollar Exchange Rate is currently in the region of: 1.0336
(Correct as of 14:30 pm GMT)
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