Following yesterday’s FOMC meeting in which it was decided to maintain the current policy with no new additions such as QE3 the forex market soon reacted as the Euro/USD continued to sharply decline.
Yesterday, many other currencies also depreciated against the US dollar such as the GB Pound dollar and Australian dollar. Here is a summary of the development of major exchange rates for December 13th:
The Euros to USD exchange rate sharply fell again by 1.14% to reach 1.3037; during December, the EUROS/USD fell by 3.04%. The Australian Dollar to US Dollar also slipped by 0.57% yesterday and reached 1.0016. The US dollar to Canadian exchange rate inclined by 0.7% on Tuesday to 1.0343. During the month the USD/CAD exchange rate inclined by 1.67%. The GBP to USD exchange rate also declined by 0.67% to reach 1.5480; during the month, the GBP to USD decreased by 1.43%.
Finally, the US Dollar appreciated yesterday against the Yen by 0.08% and reached 77.9973.
Gold price slightly declined on Tuesday by 0.31% to $1,663.10. During December, gold price declined by 4.98%.
WTI spot oil price on the other hand sharply increased by 2.42% and reached $100.14 per barrel; during December the WTI spot oil price shed 0.22% 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: