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Jun 06 2014

Rate Range Projection by Bank

 Next week 101.50- 102.80

Next 3 months 100.00 - 105.00

 

Mexico’s peso slid after the nation’s central bank unexpectedly cut interest rates. South Africa’s rand and Brazil’s real gained against the greenback and the common currency.“Euro-dollar mostly followed U.S. yields,” Daniel Katzive, a director and head of foreign-exchange strategy, North America, in New York at BNP Paribas SA, said in a phone interview.

 

The dollar gained against the euro after a report showed U.S. employers added jobs last month, adding to signs the world’s largest economy is strengthening and boosting Treasury yields. The U.S. currency rallied as payrolls matched forecasts and the unemployment rate held at the lowest since 2008, backing speculation the Federal Reserve will hold interest rates at record lows as it curtails bond purchases. The euro slipped against most major peers after the European Central Bank’s announced a package of stimulus measures yesterday.

 

“Yields moved lower after the report, probably reflecting positioning, but they’ve subsequently pushed higher for the day and that’s supporting the dollar versus the lower-yielding currencies.”The dollar added 0.1 to $1.3643 per euro at 5 pm. in New York, after touching the highest level since Feb. 6 yesterday. The U.S. currency gained 0.1 percent to 102.48 yen. Japan’s currency strengthened 0.1 percent to 139.80 per euro. Treasury two-year notes yields rose two basis points, or 0.02 percentage point, to 0.40 percent, after dropping one basis point.

 



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