10th March 2014

Euro is best performing currency on Monday


Pound Sterling

Euro to Pound

On Monday the Pound declined against several of its major rivals as the BoE became the focus of the exchange rate manipulation scandal. The British currency was little affected by a report showing that the Lloyds employment confidence measure held at -2 in February.

GBP/EUR is trading in the region of 1.2002 and GBP/USD is trading in the region of 1.6647.

US Dollar

After US employment figures surprised to the upside on Friday the ‘Greenback’ broadly strengthened. The US Dollar was also boosted over the weekend as Ukraine tensions increased demand for higher risk assets.

USD/GBP is trading in the region of 0.6005 and USD/EUR is trading in the region of 0.7209

Euro

As a new week of trading began the Euro consolidated gains against peers like the Pound as the Eurozone Sentix investor confidence measure achieved a 35 month high of 13.9 in March.

EUR/GBP is trading in the region of 0.8335 and EUR/USD is trading in the region of 1.3871

Australian Dollar

Disappointing Chinese trade figures and Ukraine inspired risk aversion pushed the Australian Dollar lower during the local session. Tomorrow’s Australian business confidence report could help the ‘Aussie’ recoup losses.

AUD/GBP is trading in the region of 0.5423, AUD/EUR is trading in the region of 0.6514 and AUD/USD is trading in the region of 0.9043

New Zealand Dollar

With the Reserve Bank of New Zealand’s rate decision looming, the ‘Kiwi’ weakened slightly against its US and Australian counterparts. Today’s domestic retail card spending figures and REINZ housing price index could result in New Zealand Dollar movement.

NZD/GBP is trading in the region of 0.5066, NZD/EUR is trading in the region of 0.6098 and NZD/USD is trading in the region of 0.8466

Canadian Dollar

On Friday lacklustre Canadian jobs figures saw the ‘Loonie’ drop by the most for two-weeks against the ‘Greenback’. If today’s Canadian housing starts figures also fall short of forecasts further Canadian Dollar declines could occur.

CAD/GBP is trading in the region of 0.5413, CAD/EUR is trading in the region of 0.6494 and CAD/USD is trading in the region of 0.9011

These exchange rates were correct as of 12:20 GMT


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