The Euro is trading at 1.0855 at this writing.  The low has traded at 1.0811 while the high has traded at 1.0888.  The Euro continues to operate within a range from 1.0800 to 1.0900.  Capping the range is the realization that the Euro is still facing headwinds as a result of the Greek debt crisis while both the US and the UK are seriously considering the timing of rate hikes in their respective regions.  With Greece having repaid about 2 billion Euros to the IMF for the amount they had in arrears, the Euro has found some support but still remains close to the 3-month lows.  Greece is to have another vote tomorrow on whether to accept further austerity measures hence the uncertainty that still persists.  Additionally, there has been no significant economic data released out Europe today which has helped to limit the gains the currency has been able to make this morning.  Also weighing on the mindset of investors is the high likelihood of rate increases in the near term by the FED and the Bank of England.  This possibility has been raised by officials from both financial entities while recognizing the growth that is taking place in each of these regions respectively. 

The British Pound is trading at 1.5547at the moment.  Sterling has traded as low as 1.5528 while the high has traded at 1.5590.  After hitting highs versus the Dollar earlier this morning following numbers that met expectations, the Pound has eased back down to current levels.  UK Public Sector Net Borrowing registered 8.6 billion Pounds which was actually lower than the total for the previous month.  Capping any further gains today is the realization that interest rates in the UK and the US may both be on the rise before the year is over.  With growth progressing in both regions, officials from both the Bank of England and the Fed have made mention of raising interest rates in the near term as a real possibility.  Economic data from these regions is likely to be the guide as both regions are looking for consistently improving growth conditions which are actually prevalent now.  The Greek debt situation has been a recent cause for concern.  With an agreement to begin talks on a third bailout package and repayment of the past outstanding loans to the IMF, expectations are high that uncertainty over Greece will subside.  This realization will allow more focus to be drawn towards each country’s specific growth potential and how they are progressing.

The Japanese Yen is trading at 124.36 at present.  USD/JPY has traded at a low of 124.23 while the high has been 124.48.  This is the new 1-month high with risk to the upside as the US looks to make a rate hike at some point in the near term.  Other than the release of the BOJ Monetary Policy Meeting Minutes of their last meeting there has been no significant Japanese economic data released.  This is keeping USD/JPY locked in the current tight range. 

AUD/USD is trading at 0.7376 with the low being 0.7341 ant the high being 0.7385.

USD/CAD is trading at 1.2988 with the low trading at 1.2973 while the high has been 1.3013.


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.