The US Dollar is trading firmer against the Pound but is mixed against most of its other major peers due to uncertainty over the Federal Reserve’s monetary easing programme and as the latest consumer confidence data came in below economist expectations.
According to the New York based Conference Board’s index of US consumer confidence optimism in the world’s largest economy fell to 79.7 in September from a revised figure of 81.8 recorded in August. Economists had been calling for the report to come in at 79.9 the weakest level since May.
Weighing upon the currency is the ongoing uncertainty over when the Federal Reserve will choose to begin to taper its quantitative easing programme. At the Fed’s September policy meeting it was decided that no tapering would occur, a move that caused a mixed reaction in the markets. The Central Bank said that it wanted to see more evidence that the USA’s economy was recovering strongly before it would introduce a reduction.
Now all eyes are turning to October after a Fed official hinted at a reduction at the next policy meeting.
Other data released on Tuesday offered the ‘Greenback’ some support with the S&P / Case-Shiller index of property values showing that prices in 20 US cities increased by 12.4% from July 2012, the biggest year-to-year advance since February 2006.
Against the Australian and New Zealand Dollars the ‘Greenback’ made significant rises as declines in global equities boosted demand for safe haven assets.
US Dollar (USD) Current Exchange Rates
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6250 >
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7401
The US Dollar/Japanese Yen Exchange Rate is currently in the region of: 99.0216 >
The US Dollar/Canadian Dollar Exchange Rate is currently in the region of: 1.0283 <
The Pound Sterling/ US Dollar Exchange Rate is currently in the region of: 1.5999
The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9390
The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.8296 <
(Correct as of 15:45 pm GMT)
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