USD further declines, EUR/USD above 1.3400
The U.S. dollar had partly strong losses against its major counterparts, the euro could in almost all peers report profits. The market direction, indicated today, suggests that investors increasingly see the euro as a safe haven against the USD. The U.S. economic data last fell short of expectations, lead to greater uncertainty among investors who currently see the greater potential for growth in the euro area, while continuing to wait for a clear signal about the future course of the Fed in September.
To support the euro also contributes that European investors pulling money out of Asian currencies strengthened back into which they had invested due to the weak dollar. Background is the expected reduction of bond purchases by the Fed in the coming months.
The EUR rose against the USD rose by 0.67% at a current rate of 1.3424, the highest level in two months. The GBP currently losing 0.49% at 0.8562 to the EUR and the JPY 0.34% at 130.55. Biggest loser among the majors and the Euro are the AUD and CAD, the pair EUR/AUD is currently showing an increase of 0.92% at a price of 1.4763, and the pair EUR/CAD shows currently a growth of 1.00% recorded at a rate of 1.3933.
The USD lost 0.18% currently to GBP and the GBP / USD reached 1.5677, the highest level since the 18th June and the depreciation of the USD against the JPY is currently 0.27% with a rate of 97.30.
Only against the CAD the USD recorded a gain in the majors after the canadian numbers for the wholesale sales today are worse than expected and the outlook for retail sales on Thursday are rather negative. The USD / CAD was down by 0.33% currently at a price of 1.03795.
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