5th March 2014

GBP/EUR Climbs by most for a week, AUD/USD Rebounds


Pound Sterling

Euro to Pound

Sterling climbed by the most for a week against the Euro after UK services data showed another month of strong expansion. The British currency was also stronger against the US Dollar ahead of tomorrow’s Bank of England rate decision.

GBP/EUR is trading in the region of 1.2170 and GBP/USD is trading in the region of 1.6705

US Dollar

With the situation in Ukraine calming, investors turned away from safe-haven assets and the ‘Greenback’ consequently softened against higher-risk peers like the Pound and Euro. Today’s US mortgage approvals and employment report could inspire further US Dollar movement.

USD/GBP is trading in the region of 0.6000 and USD/EUR is trading in the region of 0.7286

Euro

Although several economic reports for the Eurozone, including retail sales and services PMI, surprised to the upside, the common currency edged lower against the Pound. The Euro was feeling the pressure as investors debated the odds of the European Central Bank introducing additional easing measures tomorrow.

EUR/GBP is trading in the region of 0.8217 and EUR/USD is trading in the region of 1.3728

Australian Dollar

Better-than-forecast growth data for Australia helped the ‘Aussie’ advance on several of its major rivals. The South Pacific currency reversed previous declines and closed the local session in a stronger position against the Pound, Euro and US Dollar.

AUD/GBP is trading in the region of 0.5382, AUD/EUR is trading in the region of 0.6540 and AUD/USD is trading in the region of 0.8973

New Zealand Dollar

A lack of pertinent economic data for New Zealand has kept ‘Kiwi’ movement restrained this week. However, during Australasian trading positive Chinese and Australian data boosted New Zealand’s trade prospects and helped the New Zealand Dollar advance.

NZD/GBP is trading in the region of 0.5045, NZD/EUR is trading in the region of 0.6130 and NZD/USD is trading in the region of 0.8410

Canadian Dollar

Ahead of the Bank of Canada’s rate decision the ‘Loonie’ was slightly lower against the US Dollar and Pound. The central bank is expected to leave policy unaltered when it gathers later today.

CAD/GBP is trading in the region of 0.5405, CAD/EUR is trading in the region of 0.6577 and CAD/USD is trading in the region of 0.9029

These exchange rates were correct as of 12:55 GMT


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