The US Dollar firmed against the Pound on Friday but was little changed against the other major currencies due to light trading.
Friday’s session was light in terms of data releases and what reports there were had little impact on the currency exchange market.
Sterling weakened against the majority of its peers after economists deemed that the currency’s recent run of strong performances had been overdone.
Data released by the Labour Department showed that wholesale prices fell for a third consecutive month in November. The Producer Price Index dropped by 0.1% in October as energy prices fell. Economists had been expecting a rise of 0.1%. Inflation remains low in the US and will be a major factor to be considered by policy makers when the Federal Reserve gathers for next week’s policy meeting.
Despite the weaker than expected figure most economists predict that the Fed will begin tapering its $85 billion per month asset purchasing programme at the policy meeting scheduled for the 17-18th of December.
The Canadian Dollar meanwhile fell for a second day against the majority of its peers after Bank of Canada Governor Stephen Poloz said that interest rates will not be changed for ‘quite some time’. If the Fed does decide to taper next week than the ‘Loonie’ is likely to weaken further as a reduction will negatively impact commodity and emerging market currencies which have benefited from access to easy Dollars.
US Dollar (USD) Current Exchange Rates
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6143
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7280
The US Dollar/ Canadian Dollar Exchange Rate is currently in the region of: 1.0639
The Pound Sterling/US Dollar Exchange Rate is currently in the region of: 1.6278
The Euro/ US Dollar Exchange Rate is currently in the region of: 1.3733
Current Canadian Dollar (CAD) Exchange Rates:
The Canadian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9398
The Canadian Dollar /Euro Exchange Rate is currently in the region of: 0.6843
The Canadian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5774
The Pound Sterling/Canadian Dollar Exchange Rate is currently in the region of: 1.7320
The US Dollar/ Canadian Dollar Exchange Rate is currently in the region of: 1.0639
The Euro/Canadian Dollar Exchange Rate is currently in the region of: 1.4615
(Correct as of 14:40 pm GMT)
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