Key Currency Exchange Rates for Friday, 5/11/18

American Trucking Associations President and CEO Chris Spear told the House Transportation and Infrastructure Committee that automated vehicle technology holds great promise to enhance highway safety, boost economic productivity, and support trucking’s essential workforce. In order to harness this technology’s full potential, Spear emphasized that regulations must be consistent to avoid a patchwork of rules that treat highway users differently. “What’s needed first is a national framework that encourages development, testing and deployment of technology, in direct support of interstate commerce,” Spear said in a hearing before the panel’s Subcommittee on Highways and Transit. “Federal guidance should treat commercial and passenger vehicles equally and require automated vehicles to achieve an acceptable level of safety and performance, rather than requiring the use of specific technologies.”

American Dollar to Canadian Dollar = 0.737959; American Dollar to Chinese Yuan = 0.138498; American Dollar to Euro = 1.078811; American Dollar to Japanese Yen = 0.006608; American Dollar to Mexican Peso = 0.060368.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 2.8% in August after decreasing 1.5% in July. In August, the index equaled 119 (2015=100) versus 115.8 in July. “Tonnage snapped back in August after a weaker than expected July,” said ATA Chief Economist Bob Costello. “With the economy in transition to slower growth and changing consumer patterns, we may see more volatility in the months ahead. But the good news is that we continue to witness areas of freight growth in consumer spending and manufacturing, which is helping to offset the weakness in new home construction.”