The Euro is trading at 1.0894 at the moment.  The euro has traded as low as 1.0871 while the high has been 1.0962.  The Euro has eased versus the US Dollar this morning ahead of the ECB Rate Announcement and following Press Conference.  Comments from Fed Chair Yellen yesterday confirmed the previously stated position that the Fed is likely to raise interest rates before the end of this year if US growth continues in its current consistent trajectory.  Assisting this information was the news that the Greek parliament had approved the strict austerity measures imposed on them by their euro zone creditors.  Earlier this morning, both European Final CPI and European Final Core CPI met expectations recording 0.2% and 0.8% respectively.  Aiding the downside move of the currency was the European Trade Balance which was lower than expected registering a surplus of 21.2 billion Euros.  In addition, the Italian Trade Balance beat expectations posting a surplus of 4.18 billion Euros.  In addition to the Greeks, the French national assembly voted in favor of starting negotiations for the third bailout while the Germans are scheduled to vote on the plan on Friday.  Meanwhile, euro zone officials are stepping up their plans to assist Greece by putting together a 7 billion Euro package for short-term financing while the bailout is being finalized.

The British Pound is trading at 1.5614 currently.  Sterling has traded as low as 1.5563 while the high has been 1.5650.  Cable has eased slightly versus the US Dollar while the Euro fell to eight year lows versus the Pound.  Expectations for a rate hike in the UK have enhanced the attractiveness of Sterling versus the Euro.  This advancement was assisted by comments earlier this week by Bank of England Governor Mark Carney who highlighted that time for raising interest rates in the UK is getting nearer.  There has been no new economic data out of the UK today but investors remain vigilant ahead of the ECB Rate Announcement due out Later this morning. 

The Japanese Yen is trading at 124.00 at present.  USD/JPY has traded as low as 123.70 while the high has been 124.06.  The US dollar has gained a bit more ground versus the Yen after comments made by Fed Chair Yellen yesterday.  Also aiding the Dollar is the selloff of the Euro as the Greek situation continues to evolve.  With the Greek parliament approving the deep austerity measures that have been proposed, pressure towards the downside persists with the Euro while the Dollar remains the dominant beneficiary.  No economic data has been released out of Japan today giving the Dollar little opposition as it eases upward.  This pattern may continue as the is no further significant economic data expected out of Japan for the remainder of this week.

AUD/USD is trading at 0.7390 with the low trading at 0.7349 while the high has been 0.7407.

USD/CAD is trading at 1.2943 with the low being 1.2908 and the high being 1.2947.

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This information has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.