The Euro continued to lose ground against the US dollar following the FOMC meeting in which it was decided not to introduce a new stimulus plan such as QE3; major commodities prices took the hardest hit yesterday and sharply declined.
Yesterday, many other currencies also continued to depreciate against the US dollar such as the CHF and Australian dollar. Here is a summary of the development of major exchange rates for December 14th:
The Euros to USD exchange rate declined again by 0.42% to reach 1.2982; during December, the EUROS/USD fell by 3.45%. The Australian Dollar to US Dollar also fell by 1.07% yesterday and reached 0.9909. The US dollar to Canadian exchange rate rose by 0.52% on Wednesday to 1.0397. During the month the USD/CAD exchange rate inclined by 2.2%. The GBP to USD exchange rate also slipped by 0.09% to reach 1.5466; during the month, the GBP to USD decreased by 1.52%.
Finally, the US Dollar appreciated yesterday against the Yen by 0.10% and reached 78.0746.
Gold price sharply fell on Wednesday by 4.58% to $1,586.90. During December, gold price declined by 9.34%.
WTI spot oil price also sharply decreased by 5.18% and reached $94.95 per barrel; during December the WTI spot oil price shed 5.39% off its value.
A Summary of Yesterday’s Exchange Rate Forex Changes:
The table below includes: closing prices, daily percent change, and change in prices and indexes:
For further reading:
Monthly Analysis and Outlook: