Dollar remains strong as pound flounders - FX Trading

Sat 23 Sep 2017
FX Trading

Dollar remains strong as pound flounders

Posted on 10 Jul at 10 AM Tags: Euro, Dollar, Economy,

The US dollar is performing well against a basket of other leading currencies. The strength of the greenback has been aided by a drop in the value of the euro and sterling as the Bank of England and the European Central Bank look like keeping a loose money policy in place for some time to come.

Although the ECB has said his comments were not meant to be taken as a forecast, Joerg Asmussen’s statement that interest rates are likely to remain at a low for at least another year sent jitters through the markets.

The single currency has also been hit by a decision by Standard & Poors to downgrade Italy to BBB from BBB+.

The BoE is likely to ramp up its easy money policy after some extremely disappointing manufacturing data. Sterling dipped as low as $1.4814 and has settled at $1.4857, the lowest the currency has been in three years.

The US dollar remains attractive, especially as it looks increasingly likely that the Fed will rein in its quantitative easing before the end of the year. All eyes are now on data due to come out of China. Any indication that the economy is performing poorly is likely to boost the safe haven yen.


The live forex rates on 10/07/2013 were as follows: EUR GBP = 0.8684, USD GBP = 0.6587, AUD GBP = 0.6107, NZD GBP = 0.5235, CHF GBP = 0.6989, INR GBP = 0.0111, CAD GBP = 0.6344, GBP EUR = 1.1516, USD EUR = 0.7585, AUD EUR = 0.7033, NZD EUR = 0.6029, CHF EUR = 0.8048, INR EUR = 0.0128, CAD EUR = 0.7306, GBP USD = 1.5182, EUR USD = 1.3183, AUD USD = 0.9271, NZD USD = 0.7948, CHF USD = 1.061, INR USD = 0.0168, CAD USD = 0.9631, GBP AUD = 1.6375, EUR AUD = 1.4219, USD AUD = 1.0786, NZD AUD = 0.8573, CHF AUD = 1.1444, INR AUD = 0.0182, CAD AUD = 1.0388, GBP NZD = 1.9101, EUR NZD = 1.6586, USD NZD = 1.2581, AUD NZD = 1.1665, CHF NZD = 1.3349, INR NZD = 0.0212, CAD NZD = 1.2118, GBP CHF = 1.4309, EUR CHF = 1.2425, USD CHF = 0.9425, AUD CHF = 0.8738, NZD CHF = 0.7491, INR CHF = 0.0159, CAD CHF = 0.9078, GBP INR = 90.1082, EUR INR = 78.2461, USD INR = 59.352, AUD INR = 55.0279, NZD INR = 47.1746, CHF INR = 62.9731, CAD INR = 57.1644, GBP CAD = 1.5763, EUR CAD = 1.3688, USD CAD = 1.0383, AUD CAD = 0.9626, NZD CAD = 0.8252, CHF CAD = 1.1016, INR CAD = 0.0175, . See today's forex Rates
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