June 18, 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.
|June 18, 2013|
|The Euro neared a 4 month high vs the US Dollar after the German ZEW business sentiment index rose in June. European Central Bank President Draghi, speaking in Israel, said that calmer conditions in the Euro Zone meant monetary policy had regained its 'steering capacity' again. Despite an uptick in the mood in Germany, Euro advances faced resistance following the Bundesbank warnings yesterday of a summer slowdown. Further underscoring the malaise within the Euro Zone region, auto sales fell to a 20 year low in May. The US currency edged higher vs the Japanese Yen, with further gains dependent on the results from today's start of the Federal Reserve's 2 day policy meetings. Currency markets await Fed Chairman Bernanke's concluding statements on Wednesday for more clarity on the central bank's policy stance. Speculation that Fed chief Bernanke may signal an end to its stimulus program has led to a sell off in global equities in recent weeks, helping the safe haven Yen to its best weekly gain in 4 years against the dollar last week. Oil prices neared a 10 week high on growing fears that tensions in Syria could spark conflict within the oil rich region. US Stock futures point to a lower open on Wall Street. US Housing starts for May and the release of the US consumer price index for May highlight today's economic calendar.|
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