Today’s Foreign Exchange Rates

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Foreign Exchange Update

July 22, 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$.9415
CanadaDollar1.0725
Czech RepublicKoruna20.3710
DenmarkKroner5.5290
EurolandEuro$1.3495
JapanYen101.3000
MexicoPeso12.9425
New ZealandDollar$.8690
NorwayKroner6.1800
South AfricaRand10.5775
SwedenKrona6.8425
SwitzerlandFranc.8997
UKPound$1.7075

News & Events

July 22, 2014
The US Dollar neared a 6 month high vs the Euro ahead of today's US inflation figures for June. Currency markets expect consumer prices in the US to breach the 2% level which would underline the growing divergence between the US and European economies. 2% inflation is in line with the Federal Reserve's target but dwarf's the almost zero growth within the Euro Zone. Pending US rate hikes ahead of those in Europe would provide additional support for the Dollar. The threat of a deeper round of sanctions against Russia over its involvement in the Ukraine was also weighing on the single currency. EU foreign ministers are meeting today to decide how to deploy the sanctions agreed 10 days ago. The US currency was also higher against the safe haven Swiss Franc. While recent UK economic data has been mixed, June inflation was a higher than expected 1.9%, just shy of the Bank of England's 2% target, bolstering expectations that the Bank of England will raise rates this year and keep the Pound on the offensive vs the US unit. The Japanese Yen posted modest losses vs the greenback. US stock futures point to a higher open in New York this morning.    
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