17th March 2014

GBP Little Changed, AUD & NZD Strengthen


Pound Sterling

Euro to Pound

In a quiet UK news day Pound movement was limited. Sterling was little-affected by a Rightmove housing report showing that home values had reached record highs. Global developments could be responsible for Pound movement as trading continues.

GBP/EUR is trading in the region of 1.1957 and GBP/USD is trading in the region of 1.6613

US Dollar

With Crimea concerns rising, the safe-haven US Dollar strengthened against several of its major rivals. During North American trading manufacturing/industrial output data for the US could trigger ‘Greenback’ fluctuations.

USD/GBP is trading in the region of 0.6022 and USD/EUR is trading in the region of 0.7200

Euro

While the Euro softened against its peers following the release of concerning inflation figures for the Eurozone, common currency movement was restrained ahead of tomorrow’s ZEW economic sentiment surveys for the 18 nation currency bloc and its largest economy.

EUR/GBP is trading in the region of 0.8366 and EUR/USD is trading in the region of 1.3891

Australian Dollar

The news that Westpac economists no longer expect the Reserve Bank of Australia to introduce a rate cut this year pushed the ‘Aussie’ higher against its US and UK counterparts. Australian Dollar gains were restricted by the ongoing Ukraine-focused risk aversion.

AUD/GBP is trading in the region of 0.5469, AUD/EUR is trading in the region of 0.6537 and AUD/USD is trading in the region of 0.9081

New Zealand Dollar

Although New Zealand’s performance of services index declined from January’s high levels, the ‘Kiwi’ was stronger as a result of an impressive jump in domestic consumer confidence. This week’s growth report for New Zealand will be the next major cause of fluctuations in the nation’s currency.

NZD/GBP is trading in the region of 0.5159, NZD/EUR is trading in the region of 0.6160 and NZD/USD is trading in the region of 0.8579

Canadian Dollar

While investors have been turning to safe-haven assets in response to the outcome of the Crimea referendum, the ‘Loonie’ has modestly strengthened against the majority of its rivals. Today’s Canadian existing home sales figure could cause further Canadian Dollar movement.

CAD/GBP is trading in the region of 0.5450, CAD/EUR is trading in the region of 0.6517 and CAD/USD is trading in the region of 0.9052

These exchange rates were correct as of 12:30 GMT


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