BUSINESS SUPPLEMENTFOREIGN CURRENCY UPDATEThe U.S. DollarRecent U.S. Dollar strengthwas short-lived and has quicklyreversed as the Greenbacknotched up steady losses. Interestrates on the 10-year noteleveled off from recent highs of1.74 per cent back down to 1.59per cent, yet this may be a temporarymove. The DXY Dollarindex, the index that measuresthe U.S. Dollar’s value against abasket of major currencies, fellrelentlessly from 93.31 to 90.07,a move of more than three percent. Against the Thai Baht, theU.S. Dollar rose from 30.69 andhas been largely range boundbetween 31.16 and 31.57. Typicallyif the U.S. Dollar weakensthen one U.S. Dollar should buyless baht, not more. The movein the USDTHB exchange rateindicates that the Thai Baht isweakening even faster than theU.S. Dollar.The British PoundThe British Pound pierced the1.40 mark against the U.S. Dollarand traded above 1.4245, athree-year high, before retreatingslightly to 1.4191. Thusthere is notable resistance atthis level and the low volatilityof recent action could portenda sharp move either way in thefuture. Against the Thai Baht,the Pound rose from 42.75to 44.56, in keeping with theweaker local currency.The Japanese YenThe Japanese Yen strengthenedagainst the U.S. Dollar from110.86 to 107.72 before reboundingback to 109.76. When theUSDJPY rate falls, this indicatesa rise in the value of the Yen sincea dollar buys less Yen than it didpreviously. U.S. Dollar weaknessis most likely to be behind themove, but the Yen has weakenedalso, just not to the same extent.With stock markets still notchingup new highs there has been noflight to safety to the Yen in thisrespect, however if there is a selloffin equities then the Yen couldstrengthen further. Against theThai Baht, the Yen rose slightlyfrom 0.2798 to 0.2811The Russian RubleThe Russian Ruble moved from77.61 to 73.11 against the U.S.Dollar. The large move is inkeeping with that of the U.S.Dollar’s weakness, but is stillconsidered low volatility for theRussian unit. As well, since thiswas Dollar driven, the price actionof the Ruble itself could beseen as only slight appreciationin real terms. Against the ThaiBaht the Ruble moved from0.411 to 0.425.The EuroThe Euro moved up almost in astraight line from 1.1729 againstthe U.S. Dollar to hit 1.2249 beforeretreating slightly to 1.2189. WhilstECB and Federal Reserve headsboth remain dovish, inflation numberson both sides of the Atlanticare being closely watched. Againstthe Thai Baht, the Euro rallied from36.62 to 37.89.is brought to you byWorld TransferGET A BETTER DEAL FOR YOUR MONEY EXCHANGE061 608 4830contact@worldtransfer.onlinewww.worldtransfer.onlineWorld Transfer Paris Bangkok LondonGET A BETTER DEAL FOR YOUR MONEY EXCHANGESend money worldwideIt’s easy and free to open an account onlineSend money overseas easily and securely,with bank-beating exchange ratesThe easy way for businesses to transfer foreign currency online 24/7 and private customersto manage payments overseas, such as for a second home or education fees.FINANCIAL ANALYSIS INVESTMENTS INSURANCE BUSINESS SUPPORTwww.worldtransfer.online www.insuranceags.com www.agscorporate.comOffice: 061 608 4830contact@worldtransfer.onlineThepprasit Market next to 3BBThepprasit Rd, Pattaya, Chonburi 20150Office: 061 608 4830, 089 8113 599WORLD INVESTMENTGLOBAL INVESTMENT SOLUTIONSAGSERVICE
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