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February 6, 2012
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 |
$1.0710 |
| Canada |
Dollar |
.9970 |
| Czech Republic |
Koruna |
19.1500 |
| Denmark |
Kroner |
5.7001 |
| Euroland |
Euro |
$1.3058 |
| Japan |
Yen |
76.4400 |
| Mexico |
Peso |
12.7166 |
| New Zealand |
Dollar |
$.8315 |
| Norway |
kroner |
5.7002 |
| South Africa |
Rand |
7.6126 |
| Sweden |
Krona |
6.7553 |
| Switzerland |
Franc |
.9232 |
| UK |
Pound |
$1.5793 |
| February 6, 2012 |
| The US dollar begins the week stronger as momentum from Friday's positive jobs report fades and markets begin to turn their attention back to uncertainty surrounding Greece. The Euro fell the most in a week against the greenback amid concerns that Greece's political leaders will be unable to meet EU and IMF demands for further austerity. The issue of Greek PSI remains unresolved this morning with a deal unlikely to be reacehd today as the Greek Finance Minister will reportedly meet with the Eurogroup finance ministers on Wednesday. More pressing than the issue of PSI however, is the additional 1.5% of GDP in savings that Greece's government must come up with before it can receive its next tranche of aid due in March. The focus this week will be on continued developments in Greece and various central bank meetings that include the ECB, BOE, and RBA. Market expect the ECB to keep rates on hold and expect the BOE to announce another round of QE. The RBA is expected to cut rates by 25 bps. Futures data indicate a lower open in NY.
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