The US Dollar is little changed against the Pound and the majority of its most traded peers and continues to be weakened against the rallying commodity based currencies.
Monday has been a mixed day for US economic data releases. The final reading of the Markit manufacturing purchasing managers Index came in at 51.9 in June, worse than the initial reading of 52.2 and down from May’s reading of 53.5 marking the slowest rate of growth since October 2012. Weighing upon the ‘Greenback’ was the news that the employment gauge fell into contraction territory at 49.9 from the 52.6 seen in May.
According to the US Commerce Department construction spending rose to 0.5% in May compared to April. Private residential construction rose by 1.2% to its highest level since October 2008, adding to the evidence that the US building sector is seeing a rebound. Total construction expenditure rose to a seasonally adjusted rate of $874.9 billion in May, 5.4% higher than the previous year.
Finally the Institute for Supply Management released its own manufacturing Index which climbed to a three month high of 50.9 in June, up from the 49 recorded in May. Economists had wanted the figure to rise to 50.5. A reading above 50 indicates growth.
Data from elsewhere showed that manufacturing output increased in the Eurozone and hit a two-year high in the United Kingdom. The improving picture of the UK and European economies saw investors favour riskier assets to the detriment of the ‘Greenback’.
US Dollar (USD) Current Exchange Rates
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6570
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7668
The US Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.0906
The US Dollar/Japanese Yen Exchange Rate is currently in the region of: 99.5767
The US Dollar/Canadian Dollar Exchange Rate is currently in the region of: 1.0520
The Pound Sterling/ US Dollar Exchange Rate is currently in the region of: 1.5220
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3041
The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9169
The Canadian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9505
The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.7755
(Correct as of 15:45 pm GMT)
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