The US Dollar Exchange Rate was trading in the region of 0.6350 against the Pound as of 15.51 pm
Today political upheavals in Spain and Italy triggered the Euro’s largest decline against the US Dollar for two weeks.
However, the ‘Greenback’ did lose ground against the British Pound, despite UK construction contracting.
And now recent data has shown that in December US factory orders increased by less than expected. The figures imply that although there were gains in computers and construction equipment they were offset by declines in non-durable goods.
Although economists forecast a gain of 2.3 per cent, according to Commerce Department data bookings climbed by 1.8 per cent, and while durable good demand increased by 4.3 per cent non-durable good demand fell by 0.3 per cent.
This gain may be less than hoped but the result is still significantly bigger than the revised 0.3 per cent drop recorded in November and industry experts are remaining optimistic.
One asserted that: ‘We see a lot of continued growth momentum’.
Meanwhile Chris Low, an economist with FTN Financial, was quoted as saying: ‘Manufacturing is growing again, and if overseas demand recovers it will grow faster still […] modest growth feels pretty good after last year’s stall.’
On the flip side, a separate report revealed the first decline in a measure of US job prospects for four months. Those that participated commented that jobs were proving harder to get. This tally’s with a report released last week which showed the US unemployment rate increasing to 7.9 per cent in January despite the economy adding 157,000 jobs.
Current US Dollar Exchange Rates
The US Dollar to Euro exchange rate is currently trading at 0.7375
The US Dollar to Pound Sterling exchange rate is currently trading at 0.6350
The US Dollar to Canadian Dollar exchange rate is currently trading at 0.9962
The US Dollar to Australian Dollar exchange rate is currently trading at 0.9595
The US Dollar to New Zealand Dollar exchange rate is currently trading at 1.1816
The US Dollar to Emirati Dirham exchange rate is currently trading at 3.6729
The US Dollar to Swiss Franc is currently trading at 0.9096
The US Dollar to Japanese Yen exchange rate is currently trading at 92.6500
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