US dollar gets weaker by midweek

Posted 06 June, 2018

At the morning session, the US dollar decreased below 94. At the same time, its Australian counterpart improved on the back of strong economic reports in the country (in particular, GDP data).

The US Dollar index dropped to some 93.72 Wednesday morning.

It is worth mentioning that the US-China trade talks remain in progress. According to the available information, Beijing offered an increase in buying of US goods by $25 billion this year, which naturally met the eye of the players. The sources stated that it was mentioned increased purchases of crude oil, coal and agricultural products.

According to the morning data, the Australian dollar-to-US dollar exchange rate rose to some 0.7655 driven by positive GDP data in Australia. Specifically, the GDP went up by 1%, while the expectations had been voiced at 0.8%. The year-to-date upturn was 3.1%, against the forecast of 2.8% and 2.4% in Q2.

At the same time, the greenback improved against the Japanese yen to some 110.11.  According to Japan's reports, the real earnings remained unchanged y-o-y in April. The March figures were revised to some 0.7% y-o-y.

The US dollar has lost some grounds vs the yuan reaching 6.3908. The PBOC has set the reference rate of the yuan to the US dollar at 6.4040 (6.4157 earlier).

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06 June, 2018 12:11

← Euro hikes amid next-week meeting of Central Bank

The European currency rebounds Wednesday morning, with the investors focusing on the European Central Bank's meeting slated for the next week.The euro-to-US dollar exchange rate was recorded at some 1.1752 (some 0.4% up from the previous session). The 10-month bottom was hit at $1.1510 in late May.  The European currency reportedly hit a 2-week peak of 128.95 at the start of the Asian session.

Euro hikes amid next-week meeting of Central Bank

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