The Euro is trading at 1.0982 at the moment.  The low has been 1.0958 while the high has been 1.1010.  The Euro has softened versus an appreciating US Dollar that began this most recent move on Friday of last week following the release of the US CPI data.  In addition, Fed Chair Janet Yellen also hinted that a rate hike was possible before the end of the current year and such comments increased support for the Dollar.  Also adding to increased support for the Dollar was continued concerns over a possible debt default by Greece after discussions with other EU leaders did not foster another breakthrough in the most recent talks over a possible restructuring.  It is unfortunate that there seems to be no end in sight to the Greek debt debacle which comes to the fore as every repayment date draws near.  This issue remains one of the main reasons why the Euro continues to ease versus the Dollar.  The biggest fear being that any failure by Greece to repay its debt will lead to the country leaving the EU which will have major repercussions throughout the entire Euro-zone.  Leaders are doing all they can to prevent any breakup of the EU.  This makes the ability to compromise a major factor as the outcome of ongoing discussions.

The British Pound is trading at 1.5492 at present.  Sterling has softened a bit more against the US Dollar today with the low being 1.5458 while the high has been 1.5507.  With very thin volume and a particularly noticeable quiet during the European session due to a number of major European countries observing bank holidays today, the Dollar maintains its firming appeal against all major currencies.  In addition to the UK, Germany, France, and Switzerland are all closed as well while observing a bank holiday today.  At the moment this is keeping the markets mostly range bound with the Dollar the likely beneficiary of any possible movement.  More normal market conditions are likely to be seen tomorrow with each of the countries off on holiday today returning to resume business as usual.  In the meantime, the Dollar will likely hold onto its gains.

The Japanese Yen is trading at 121.48 currently.  USD/JPY has seen a low of 121.47 while the high has been 121.77.  Earlier in the Asian session, the Japanese Trade Balance revealed a smaller deficit than initially expected of -0.21 trillion Yen.  Despite this encouraging number, the Yen has not gained versus the Dollar today.  This is because of comments the Fed Chair Janet Yellen made on Friday highlighting the possibility of an interest rate increase in the US before the end of the current year.  The Dollar will likely hold on to these gains as there is very little information or data to cause a pullback.

AUD/USD is trading at 0.7835 with the low being 0.7803 while the high has been 0.7839.

USD/CAD is trading at 1.2287 with the low being 1.2275 while the high has been 1.2308.



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.