Market overview

The greenback dollar continues to trade on weak footing against the major currencies, remaining mired near its lows against the euro and sterling.

GBP

Economists noted that the pound gained a little bit by default, as there was slightly euro negative news in the eurozone and the US data was dollar negative. There is great anticipation that December retail sales will shine a light on future interest rate decisions.

USD

The dollar may have dipped but the US stocks and bond reacted positively to the inflationary report. Industrial production for December is expected to post another large advance, despite a more sluggish turn in recent manufacturing surveys.

EUR

The euro rose against the dollar, clawing back some ground lost in the previous session, after the European Central Bank disappointed the euro bulls that were looking for a clear sign it would soon raise rates.

JPY

The yen pared some of its gains against the euro and the dollar, retreating back below current levels.

Compiled by Commercial Foreign Exchange Travelex Malta. (Free phone: 800 77 33 22) www.travelex.com.mt