Key Currency Exchange Rates for Friday, 7/2/21

American Dollar to Canadian Dollar = 0.776232; American Dollar to Chinese Yuan = 0.157751; American Dollar to Euro = 1.206695; American Dollar to Japanese Yen = 0.009148; American Dollar to Mexican Peso = 0.053203.

National Average Price for Regular – Current: $2.914; Month Ago: $2.731; Year Ago: $2.338. National Average Price for Diesel – Current: $3.167; Month Ago: $3.017; Year Ago: $2.499.

U.S. President Joe Biden does not intend to invoke a federal law to prevent a port strike on the East Coast and Gulf of Mexico if dockworkers fail to secure a new labor contract by an Oct. 1 deadline, an administration official said on Tuesday. The International Longshoremen's Association, negotiating on behalf of workers at three dozen U.S. ports from Maine to Texas that handle about half of the nation's ocean imports, warned again on Tuesday that its members are prepared to stop work in two weeks. Their current six-year agreement with the United States Maritime Alliance (USMX), which includes employers like Maersk's (MAERSKb.CO), opens new tab APM Terminals and SSA Marine, expires on Sept. 30. U.S. presidents can intervene in labor disputes that threaten national security or safety by imposing an 80-day cooling-off period under the federal Taft-Hartley Act, forcing workers back on the job while negotiations continue.