The US Dollar has strengthened further against the majority of its most traded peers hitting a six week high against the Euro and an 11-month high against its Australian relation.
The ‘Greenbacks’ strength comes after speculation rose that the Federal Reserve is moving closer to putting an end to its asset purchasing programme as the world’s largest economy continues to show signs of improvement.
The Dollar jumped upwards against its peers after Federal Bank of San Francisco John Williams said that the quickening growth and a slow but steady improvement in the nation’s jobs market could prompt the Central Bank to begin reducing its $85 billion of monthly bond buying in the near future.
“It’s clear that the labour market has improved since September” when the Fed began its latest round of asset purchases, the San Francisco Fed’s Williams said in a speech in Portland Oregon. “We could reduce somewhat the pace of our securities purchases, perhaps as early as this summer” and end the program late this year.
Confirmation of whether the Fed will announce such measures will not be known officially until next Wednesday when the Fed releases the minutes of its April 30th to May 1st meeting.
So far this year the US Dollar has strengthened by 5%, making it the best performing currency among the world’s top ten developed currencies.
Current US Dollar (USD) Exchange Rates
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6560
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7764
The US Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.0260
The US Dollar/Japanese Yen Exchange Rate is currently in the region of: 102.5180
The US Dollar/Canadian Dollar Exchange Rate is currently in the region of: 1.0229
The Pound Sterling/ US Dollar Exchange Rate is currently in the region of: 1.5243
The Euro/US Dollar Exchange Rate is currently in the region of: 1.2879
The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9746
The Canadian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9775
The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.8119
(Correct as of 09:50am GMT)
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