Today’s Foreign Exchange Rates

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Foreign Exchange Update

October 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$.8775
CanadaDollar1.1271
Czech RepublicKoruna21.8455
DenmarkKroner5.8770
EurolandEuro$1.2670
JapanYen107.2000
MexicoPeso13.5415
New ZealandDollar$.7945
NorwayKroner6.6220
South AfricaRand11.0370
SwedenKrona7.2745
SwitzerlandFranc.9520
UKPound$1.6045

News & Events

October 22, 2014
The Euro was lower against the US Dollar, in choppy overseas trading, following a news report that sparked concerns over European banks. Spanish news agency EFE, citing unnamed financial sources, said 11 Euro Zone banks were set to fail this weekend's pending stress tests. The European Central Bank will publish the test outcomes for 130 banks on Sunday. The ECB said any references drawn from the EFE news report would be 'highly speculative.' The report followed yesterday's Reuters report that said the ECB was looking to buy corporate bonds, which would add a flow of extra Euros into the region's economies. Additional easing by the European Central Bank would widen the interest rate gap between Europe and the United States, which would further underpin the US currency. The English Pound fell after Bank of England minutes showed officials were firmly against raising rates when they met earlier this month. Most of the monetary committee saw 'few signs' of inflation building, which cooled the debate for a tighter monetary policy. Solid earnings from US tech firms, good US housing data and moderate growth figures from China helped improve risk appetite. The safe haven Japanese Yen retreated from its gains earlier this week. US stock futures point to a higher open in New York. The US September CPI report highlights today's economic calendar.
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