July 2013 Currency Exchange Rates

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In July the monthly average value of the U.S. dollar appreciated against all three of the major currencies we track: by 2.8 percent relative to the yen, 1.1 percent against the euro, and 1.0 percent against Canada’s loonie. On a trade-weighted index basis, the dollar strengthened by 0.7 percent against a basket of 26 currencies. 

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The greenback’s strength is adversely affecting U.S. exports, particularly of pulp, paper and paperboard.

The foregoing comments represent the general economic views and analysis of Delphi Advisors, and are provided solely for the purpose of information, instruction and discourse. They do not constitute a solicitation or recommendation regarding any investment.