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Currency Analyst since 2010

US dollar is still close to the highs

US dollar weakened a bit versus its competitors, but remained 11-year maximum versus the basket of currencies. American currency is in demand because as the expectations that the Federal Reserve will raise interest rates sooner rather than later strengthened after US labor market data on Friday came much better than forecasts.

EUR/USD declined as low as to the 1.0820 area before recovering to 1.0850. Finance ministers of the euro area meet today to discuss the Greek reforms. GBP/USD dipped to 1.5030 before rising to 1.5075. USD/JPY has tested levels above 121.00. AUD/USD has tested levels below 0.7700 today. Aussie is under pressure even despite news about the surge in China’s exports released during the weekend. USD/CAD is trying to hold above 1.2600.

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