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.
This week the apparel industry dabbled in new fashion technologies, discussed venture capital trends and debated about the survival of America’s department stores.Read more
Invista’s Apparel and Advanced Textiles business is at a crossroads.Read more
U.S. longshoremen are calling out bi-state entities and state port authorities for neglecting shipping labor issues.Read more
Retailers push forward with existing strategies to streamline and reduce promotions, as they focus on ways to capitalize on their online sales successes.Read more
Céline tapped Berluti executive Séverine Merle as its new CEO, meanwhile Puma named Bob Philion as its new Puma North America president.Read more
JC Penney is trimming down to focus on creating physical stores that can compete in a digital world.Read more
Depending on which country you ask, Donald Trump’s moves on trade could either be a huge boon to business or quite the opposite.Read more