Euro Stays the Strongest Major Currency
The euro remains the strongest major currency, while the US dollar is trading mixed. Dollar's rebound attempt is limited by cautious comments from Fed officials and lack of economic data. The New Zealand dollar and the Canadian dollar remain the weakest major currencies.
The unemployment rate in Switzerland was unchanged at 3.2% in July. Economic data from China showed that the trade surplus rose to USD 46.7 billion in July. Exports rose by 7.2% yoy, while imports grew 11.0% year-on-year. Some economists noted that trade data indicate a tendency to reduce both external and domestic demand.