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Currency Market Report August 5, 2011

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Currency Market Report August 5, 2011

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The US Dollar continued to fall Friday despite strong United States economic data in the employment report. There is still a general consensus among economists that the US debt crisis may bring about a recession. Also credit rating agency Standard and Poors lowered the United States credit rating to AA+, away from the AAA rating that the nation has been at for years.

Among the major currency pairs, currently the US Dollar/the Euro is around 1.4150, the US Dollar/British Pound is around 1.6300, the JPY Yen/US Dollar is around 78.50.

The continued belief is that the US Dollar will continue to weaken next week admist more turmoil in regards to the US credit situation.

Return to World Markets Report.

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