US dollar in the doldrums - FX Trading

Thu 19 Oct 2017
FX Trading

US dollar in the doldrums

Posted on 24 Jul at 9 AM Tags: Euro, Forex Trading, Dollar, Economy, Investors,

A basket of major currencies has been given a boost as the US dollar remains weak. However, just how weak the greenback remains will depend of Chinese data due to be published today. If the second biggest economy on the planet shows disappointing growth, investors are likely to return to the dollar for comfort.

The euro has been given some reprieve and has managed to rise as high as $1.3239, its highest level since 21 June. The dollar continues to struggle to climb above the 100 yen barrier, but the single currency is performing well at 132.47, not far off a two-month peak hit on Monday.

Pressure has been put on the dollar because Federal Reserve head Ben Bernanke has indicated that even though bond-buying may be reduced, the central bank still intends to keep interest rates near record lows.

The dollar is unlikely to remain under too much pressure, especially against currencies like sterling and the euro, which are both battling recession.

The Aussie dollar is doing well out of its US counterpart’s decline and has managed to pull itself out of a 34-month trough hit earlier in July of 0.8998. The Aussie is currently trading around 93 US cents. The currency could come under renewed pressure if the Australian central bank announces another rate cut next month.


The live forex rates on 24/07/2013 were as follows: EUR GBP = 0.8615, USD GBP = 0.6529, AUD GBP = 0.5973, NZD GBP = 0.5207, CHF GBP = 0.6963, INR GBP = 0.011, CAD GBP = 0.6331, GBP EUR = 1.1607, USD EUR = 0.7578, AUD EUR = 0.6933, NZD EUR = 0.6043, CHF EUR = 0.8082, INR EUR = 0.0128, CAD EUR = 0.7349, GBP USD = 1.5317, EUR USD = 1.3196, AUD USD = 0.9149, NZD USD = 0.7975, CHF USD = 1.0666, INR USD = 0.0169, CAD USD = 0.9697, GBP AUD = 1.6741, EUR AUD = 1.4423, USD AUD = 1.093, NZD AUD = 0.8717, CHF AUD = 1.1657, INR AUD = 0.0185, CAD AUD = 1.0599, GBP NZD = 1.9206, EUR NZD = 1.6547, USD NZD = 1.2539, AUD NZD = 1.1472, CHF NZD = 1.3374, INR NZD = 0.0212, CAD NZD = 1.216, GBP CHF = 1.4361, EUR CHF = 1.2373, USD CHF = 0.9376, AUD CHF = 0.8578, NZD CHF = 0.7477, INR CHF = 0.0158, CAD CHF = 0.9092, GBP INR = 90.7037, EUR INR = 78.1457, USD INR = 59.2177, AUD INR = 54.1806, NZD INR = 47.2268, CHF INR = 63.1597, CAD INR = 57.4256, GBP CAD = 1.5795, EUR CAD = 1.3608, USD CAD = 1.0312, AUD CAD = 0.9435, NZD CAD = 0.8224, CHF CAD = 1.0999, INR CAD = 0.0174, . See today's forex Rates
Show some love, we'd appreciate it!

Leave a Comment

Your Name (required)
Email (will not be published) (required)
Website
Type: