The US Dollar is mixed against its peers after the market digests the publication of a wealth of economic data releases.
Following the Bank of England and European Central Bank’s decisions to maintain interest rates at record lows the ‘Greenback’ softened against the Pound to come close to reaching a two year low but pushed to a one-week high against the Euro after ECB President Mario Draghi strengthened his commitment to keep interest rates low for an extended amount of time.
The currency found some support from the release of data which showed that the number of US citizens claiming unemployment benefits fell more than expected last week as the nation’s labour market continues to strengthen.
According to the Washington based Labour Department the number of people making jobless claims in the week ending January 4th fell by 15,000 to 330,000, the lowest level in a month. The number of people who lost their jobs fell to 30,623 in December, down from 45,314 in the previous month. Overall planned layoffs fell by 32%, the lowest level in 13 years.
All eyes will now be focused on Friday’s non-farm payrolls data which is expected to have risen by 196,000 in December. The overall unemployment rate is expected to come in at 7%, a five-year low. A stronger than expected report is likely to see the currency recover some ground against Sterling and will see it push higher against the commodity based Australian, Canadian and New Zealand Dollars.
US Dollar (USD) Current Exchange Rates
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6077
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7367
The US Dollar/ Canadian Dollar Exchange Rate is currently in the region of: 1.0848
The Pound Sterling/US Dollar Exchange Rate is currently in the region of: 1.6452
The Euro/ US Dollar Exchange Rate is currently in the region of: 1.3572
(Correct as of 15:00 pm GMT)
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