After rising 2 percent in May, the dollar fell slightly in June against most world currencies, with the U.S. dollar index closing down 1.4% for the month.
The U.S. currency weakened or remained flat against virtually all key apparel country currencies in the month, with the euro and pound sterling gaining the most ground. The Indonesian rupee weakened the most against the U.S. currency in the month.
The euro rose by 2 percent against the U.S. dollar in June, closing the month at $0.89, 22 percent below year-ago levels.
The UK pound sterling jumped 3 percent against the dollar in the month, ending at $0.64 as the currency served as a “safe haven” for investors worried about Greece’s potential impact on the euro.
The Chinese yuan edged up by 0.1%, virtually flat against the dollar in June.
The Indian rupee was also flat compared to the dollar in June, after a slight decline in May, putting it 6.1% below its value at this time last year.
The Indonesian rupiah fell by almost 1 percent versus the dollar.
The Pakistani rupee rose negligibly, after a slight decline in May, finishing June 3 percent below last year’s level.
The Bangladeshi taka was flat in June, after a tiny uptick in May.
The Vietnamese dong edged down by 0.1% relative to the dollar.
The Japanese yen rose by 1.1% in June, though remains almost 21 percent lower than last year at this time.
How Amazon may strip Whole Foods of its touchy-feely ethos—and why that's a good thing—had how cold brew proves you can teach old dogs new tricks.Read more
Loftex Home and GHCL sign CertainT licences, Hollander Sleep Products Buys Pacific Coast Feather and Oeko-Tex certifies Tuft & Needle.Read more
The National Retail Federation continues to lobby Congress with regards to the border adjustment tax, reiterating its claim that it would shift corporate tax savings to consumers.Read more
NRF announced new board members this week, while Topshop hired a new CEO and Macy's stepped up its off-price game with a new executive.Read more
Fashion can’t escape what’s happening in the world whether it wants to or not, and for the Autumn/Winter 2018-19 season, textiles will look to balance all that’s been upended.Read more
The Chittagong Port Authority has taken steps to alleviate the congestion situation at Bangladesh’s top port, but no comprehensive plan is in the works to fix what has been a long-term logistical problem.Read more
Looking to boost cotton quality and exports, Egypt’s Ministry of Trade and Industry has signed a cooperation protocol with United Nations Industrial Development Organization (UNIDO) and the Italian Development Cooperation.Read more