{"id":2936,"date":"2013-07-03T18:00:43","date_gmt":"2013-07-03T18:00:43","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2936"},"modified":"2013-07-04T04:55:38","modified_gmt":"2013-07-04T04:55:38","slug":"us-dollar-index-advances-to-three-year-high","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/us-dollar-index-advances-to-three-year-high\/","title":{"rendered":"US Dollar Index advances to three year high"},"content":{"rendered":"<p><a href=\"https:\/\/plus.google.com\/111687047260609547765\/posts\"><b>Sinduja Venkat<\/b><\/a><\/p>\n<p>Good morning and welcome to today\u2019s\u00a0foreign exchange market commentary on 3rd\u00a0of July.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>GBP rallies against most peers save for the Greenback<\/li>\n<li>EUR\/USD dips on bleak domestic outlook and bullish USD<\/li>\n<li>Dollar Index advances to three year high<\/li>\n<li>EUR\/JPY settles at 130.3 on the back of weak Yen<\/li>\n<li>AUD biggest Asia-Pac loser on RBA comments<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.1679<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.5152<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4401<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5975<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6644<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>15.1658<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>152.5519<b><\/b><br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.7496<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.9575<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>10.1945<\/p>\n<p><i>Mid-market rates as of 2013-07-03 05:15 UTC<\/i><\/p>\n<p><b>Key releases in the next 24 hours that may affect currency date:<\/b><\/p>\n<p><b>Australia:\u00a0<\/b>AUD HIA New Home Sales (MoM) (MAY), AUD Trade Balance (Australian dollar) (MAY), AUD Retail Sales s.a. (MoM) (MAY),<br \/>\n<b>Europe:\u00a0<\/b>EUR German Purchasing Manager Index Services (JUN F), EUR Euro-Zone Purchasing Manager Index Services (JUN F), EUR Euro-Zone Purchasing Manager Index Composite (JUN F), EUR Euro-Zone Retail Sales (YoY) (MAY),<br \/>\n<b>United Kingdom:\u00a0\u00a0<\/b>GBP Purchasing Manager Index Construction (JUN), GBP Purchasing Manager Index Services (JUN),<br \/>\n<b>New Zealand:\u00a0<\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>USD ADP Employment Change (JUN), USD Trade Balance (MAY), USD Initial Jobless Claims (JUN 29), USD ISM Non-Manufacutring Composite (JUN)<br \/>\n<b>China:<\/b> CNY Non-manufacturing PMI (JUN), CNY HSBC Services PMI (JUN)<br \/>\n<b>Canada:<\/b> No Data<br \/>\n<b>Japan:\u00a0<\/b>JPY Japan Buying Foreign Bonds (Yen) (JUN 28), JPY Japan Buying Foreign Stocks (Yen) (JUN 28)<\/p>\n<p><b>GBP rallies against most peers save for the Greenback<\/b><\/p>\n<p>GBP\/USD was the only cross in which the Sterling failed to perform on Wednesday. The sterling put up a bullish performance against the rest of its peers this past session. In his testimony to Parliament, Bank of England member Tucker offered a less than optimistic assessment of economic outlook. Apart from his assessment of the less than steady recovery that Britain will undergo in the near term, the policy maker cautioned against implementing a \u201chelp-to-buy\u201d program as a form of stimulus as the recent market volatility was a warning sign in his opinion. In the upcoming trading session the BoE credit conditions report and service PMI survey are due to be released following which the BoE rated decision will be announced on Friday.<\/p>\n<p><b>EUR\/USD dips on bleak domestic outlook and bullish USD<\/b><\/p>\n<p>EUR\/USD pair dipped by 0.7 per cent on Wednesday\u2019s trading on the back of a strong USD. The Euro itself contributed to the bearish outlook owing to its relative weakness in the face of several domestic events including the recent spate of resignations in Portugal and Greek debt situation. With regards to economic data, the Eurozone factory-level inflation figures made no impact on the assessment of health in the regional economy.<\/p>\n<p><b>Dollar Index advances to three year high<\/b><\/p>\n<p>The Dow Jones FXCM Dollar Index advanced to over 10,875 points on Wednesday to break through to new three year highs. This advance is being attributed to risk trends concerns with regards to Fed\u2019s move on QE policy tapering. Several economic events mark the rest of this week for the USD including ISM service sector activity, ADP employment change and US trade. The national employment report which is due on Friday presents the first update on a key Fed Taper target which is the jobless rate.<\/p>\n<p><b>EUR\/JPY settles at 130.3 on the back of weak Yen<\/b><\/p>\n<p>EUR\/JPY pair reflected mixed reactions on Wednesday with several ups and downs. The pair seemed to settle down in the 130.30 region. The cross observed an overall trend of buying on the back of Yen weakness to post session highs at 130.88.<\/p>\n<p><b>AUD biggest Asia-Pac loser on RBA comments<\/b><\/p>\n<p>The AUD was the big loser in the Asia-Pac region on Wednesday and market analysts expect this currency to decline further. With regards to the AUD\/USD pair this reversed completely from session highs of around the 0.9190 following a series of modest economic data coming out of Australia however selling off \u00a0resumed on the back of RBA Stevens dovish comments.<\/p>\n<p><i>Going on holiday? Compare travel money deals with our sister site mytravelmoney.co.uk<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sinduja Venkat Good morning and welcome to today\u2019s\u00a0foreign exchange market commentary on 3rd\u00a0of July.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP rallies against most peers save for the Greenback EUR\/USD dips on bleak domestic outlook and bullish USD Dollar Index advances to three year high EUR\/JPY settles at 130.3 on the back of weak Yen AUD biggest Asia-Pac loser [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[110,3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2936"}],"collection":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=2936"}],"version-history":[{"count":2,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2936\/revisions"}],"predecessor-version":[{"id":2938,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2936\/revisions\/2938"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}