Today’s Foreign Exchange Rates

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Foreign Exchange Update

August 29, 2014Interbank mid-market spot exchange rate indications for transaction amounts greater than US $1 million equivalent - Rates reflect North America a.m. Eastern Time opening levels.

CountryCurrencyExchange Rate
AustraliaDollar$.9345
CanadaDollar1.0835
Czech RepublicKoruna20.9925
DenmarkKroner5.6485
EurolandEuro$1.3200
JapanYen103.8000
MexicoPeso13.0910
New ZealandDollar$.8390
NorwayKroner6.1755
South AfricaRand10.6225
SwedenKrona6.9455
SwitzerlandFranc.9140
UKPound$1.6595

News & Events

August 29, 2014
The Euro experienced temporary relief after Euro Zone inflation came in line with market forecasts and cooled speculation that the European Central Bank would ease monetary policy as early as next week. Euro Zone annual inflation fell to a 5 year low of .3%- well below the 1% target set by the ECB. Traders await comments from ECB President Draghi following September 4th's scheduled policy meeting. The Euro was on track for a second straight month of losses as increased tensions in the Ukraine and Draghi's dovish comments last Friday at Jackson Hole weighed on the single currency. The Euro was also on the defensive after German data showed that retail sales fell 1.4% in July, worse than market expectations. In contrast to the Euro Zone, the US economy rebounded more strongly than initially reported in the 2nd Qtr. The US currency was higher against the Japanese Yen following an increase in Japan's jobless rate and weaker than expected growth in industrial output. The English Pound inched higher after data showed British house prices rose unexpectedly in August, which kept alive expectations that the Bank of England would raise rates in the coming months. US stock futures point to a higher open on Wall Street. Chicago PMI for August, the University of Michigan Confidence Sentiment report and July's personal spending/income data, highlight today's economic calendar. Wishing everyone a safe and joyful Labor Day Holiday...
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