The Daily FX Update provides opening indicative spot exchange rates and relevant market news. You can have the Daily FX Update delivered to your email inbox when you sign up for our mailing list.

Foreign Exchange Update

May 24, 2013
Interbank 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.

Country	Currency	Exchange Rate
Australia	Dollar	$.9695
Canada	Dollar	1.0340
Czech Republic	Koruna	20.0905
Denmark	Kroner	5.7673
Euroland	Euro	$1.2935
Japan	Yen	101.3500
Mexico	Peso	12.4575
New Zealand	Dollar	$.8105
Norway	Kroner	5.8245
South Africa	Rand	9.5575
Sweden	Krona	6.6507
Switzerland	Franc	.9635
UK	Pound	$1.5090

News & Events

May 24, 2013

The Euro was higher against the US Dollar after a German business sentiment survey was well above market forecasts. The solid German IFO survey for May sparked speculation that Germany's economy may be picking up while cooling expectations of further Euro Zone monetary easing. The IFO data came as a relief after recent comments from European Central Bank officials suggested the possibility of lowering rates below zero. The Japanese Yen remained on the offensive vs the US currency as lower global equity markets helped the safe haven currency recover after its recent hefty falls. The Yen rallied to a 2 week high vs the US unit, while the Swiss Franc, another safe haven, also rose against the greenback. Oil was on course to posting its biggest weekly loss in one month, with Brent edging towards $102 per barrel. US stock futures point to a lower open on Wall Street. US April Durable Goods Orders headlines today's economic calendar.

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