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.
|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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