Currency Update for Steel Trading Nations

We have two data sources for this report. These are the Federal Reserve and the Oanda forex trading platform. An explanation of these sources is given at the end of this report. Oanda is current every day but the Federal Reserve daily broad index (BI) is normally about eight days in arrears. As of August 11th the Fed’s latest daily update was August 7th, therefore four days behind the individual steel trading currency data that we are presenting here.

Figure 1 shows that the value of the US dollar as recorded by the daily BI had a recent low point of 114.1 on June 18th and has since had an uninterrupted surge to 118.7 on August 7th.