The dollar has traded mixed-to-softer so far today, weakening most notably against the euro, which has managed something of a rebound after yesterday’s selloff. 1550, putting in a little space from forex xe rates 10-month low of yesterday, at 1. The dollar traded broadly lower in N. Wednesday, taking the DXY to 94.
04 after printing near seven-month highs of 95. Calming of political tensions in Italy allowed the euro to rally, taking EUR-USD to 1. 00 on the surge on Wall Street, though later eased back to 108. The euro has firmed up on a combo of perky data out of the Eurozone and amid a calming in Italian markets today.
The common currency rose by over an average 0. EUR-USD printing a high so far of 1. 1624, which is over a big figure up on yesterday’s 10-month low at 1. The DXY pulled back from its nearly seven-month high of 95. 65 lows before reclaiming the 94. EUR-USD recovered from opening lows of 1.
OVERVIEW The Greenback moves to a 6-month high against G-10 currencies. The Euro drags the Swedish Krona down 1. Euro records its lowest level since July last year. HIGHLIGHT The Swedish Krona tumbled to a 13-month low against the USD following political jitters in Italy and Spain. The euro’s slide stepped up to a vertiginous plummet as the Italian political situation went from bad to worse, posing a long-term existential threat to the Eurozone.
As the common currency underperformed, the yen outperformed as market participants ran for safe havens. The euro has remained under the cosh, posting fresh lows six-and-a-half-month and 11-month lows versus the dollar and yen as the London interbank market joins the fray following a long weekend in the UK. The other main theme being seen is yen outperformance, which has enrichened the draw of the Japanese currency as a safe haven. OVERVIEW The Euro trading near a fresh 6-month low as politics generates more uncertainty. Oil futures continue to slip lower.
HIGHLIGHT The UK and the US markets are closed today and with a thin market liquidity condition, currency moves can sometimes be exaggerated. The term “currency trading” can mean different things. If you want to learn about how to save time and money on foreign payments and currency transfers, visit XE Money Transfer. XE does not offer speculative forex trading, nor do we recommend any firms that offer this service. These articles are provided for general information only.
How Forex Works The currency exchange rate is the rate at which one currency can be exchanged for another. Exchange rates fluctuate based on economic factors like inflation, industrial production and geopolitical events. These factors will influence whether you buy or sell a currency pair. USD rate represents the number of US Dollars one Euro can purchase. If you believe that the Euro will increase in value against the US Dollar, you will buy Euros with US Dollars. If the exchange rate rises, you will sell the Euros back, making a profit.