Major FX Currencies Performance on Wednesday Trading - 18.7.2012

The US dollar has been outperforming all of its seven major peers on today’s trading ahead of the beige book and after yesterday’s testify by Bernanke who cooled expectations for expansion in QE. Against the Japanese Yen the US dollar has been trading in a narrow range between the 78.99 and 78.93, with recent losses at 0.03 per cent, followed by the Aussie with losses at 0.15 per cent. The British pound had losses of 0.28 per cent after the release of the Meeting Minutes by the BoE, the same percentage losses had the Loonie as the US dollar was strengthening. The Swiss franc and the Euro were closely correlated today, losing 0.54 and 0.59 per cent respectively against the greenback. The Euro was further under pressure after German Chancellor expressed concerns about the “European Project”. Finally, the biggest loser was the Gold with losses at 0.66 per cent.