European Central Bank (ECB) today - benchmark euro exchange rate at $ 1.0533

axiafx vs banks

The behavior of world currencies today as European Central Bank (ECB) today - benchmark euro exchange rate at $ 1.0533

The U.S dollar has been doing very good when contrasted to many other currencies after the comments by one Federal Reserve official encouraged investors to expect a rise in short-term interest rates. Fed Governor Lael Brainard said in an interview that an improvement in the world economy and a strong recovery in the United States will mean that it will soon be time for the Federal Reserve to increase rates.

Analysts are also considering the behavior of the price of oil because if oil continues to rise, there will be an important factor for that will probably lead to a rise in the price of the dollar. The Australian and New Zealand dollars lost positions. The AUD / USD pair was down 0.74% to 0.7618 and the NZD / USD, fell 0.60% to the level of 0.7101.

Meanwhile, the USD / CAD advanced 0.32% to the level of 1.3369, five-week highs.

The dollar index, which follows the trend of this currency against a basket of other six major currencies, advanced 0.24% to 101.98, seven-week highs.

EUR / USD was trading at 1.0545, down 0.30% because of the increased possibility that the Federal Reserve raises interest rates in the US in March, according to analysts and currency strategists. The single currency was traded at $ 1.0568, compared to $ 1.0621 in the last trading hours of the European currency trading session the previous day.

The European Central Bank (ECB) today set the benchmark euro exchange rate at $ 1.0533. Two members of the Fed: Federal Reserve Bank President William Dudley and New York Bill Dudley were in favor of a rise in interest rates at the March meeting.

US President Donald Trump barely gave details in Congress last night of his tax reforms and presented a more conciliatory tone. The euro's fluctuation band against the dollar today ran between 1.0514 and 1.0590 dollars. The pair was likely to find support at 1.0514, today's low, and resistance at 1.0633, Monday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR / GBP gaining 0.43% to hit 0.8579 and EUR / JPY up 0.55% to hit 119.92. The British pound against the dollar fell to a 12-day low today, on news of the possibility of another referendum on independence in Scotland.

The pound has hit a low of $ 1.2384 with a 0.7% drop in the early morning hours. It is now trading at $ 1.2414. "The possibility of a second Scottish referendum is a clear risk at this time. This risk is being quoted on the foreign exchange market"; Says Viraj Patel, currency strategist at ING. The pound also decreased in its major Forex crosses after a vote in favor of the Lords regarding an amendment regarding Brexit.

The House of Lords has urged the premier, Theresa May, to unilaterally protect the rights of immigrants from the European Union (U.E.) in Britain. By 358 votes and 256 against, the Upper House voted in favor of an amendment to Brexit law that gives the government three months to ensure that the U.E citizens can maintain their rights. The latter is a blow to May´s authority regarding Brexit that leads to uncertainty and this uncertainty spreads on to the economy. The consequence is the British Pound decreases.

Company Details

The behavior of world currencies today

Get a quick quote

Open Account with World First

World First are located at:
Regent House, 16-18 Lombard Road, , Greater London, SW11 3RB, United Kingdom

Get a Quick Quote

Newsletter Signup to CMT

Sign up to our foreign exchange newsletter to receive news updates directly by email

Compare Money Transfer will not Share your details!

Bank Exchange Rates Comparison

High St Bank Exchange Rate

All Rights Reserved: Copyright 2006 - 2018 Compare Money Transfer Limited offering FCA Regulated Suppliers - 34 New House, 67-68 Hatton Garden, London, EC1N 8JY. +44 (0) 843 357 4882