28th April 2014

GBP/USD At 4-Year High before FOMC


Pound Sterling

Euro to Pound

With this week’s UK growth data expected to show quarterly expansion of 0.9 per cent, the Pound was able to achieve a four-year high against the US Dollar. The British currency was also stronger against the Euro. Today’s UK house price report revealed a 15th monthly increase.

GBP/EUR is trading in the region of 1.2144 and GBP/USD is trading in the region of 1.6844

US Dollar

Speculation surrounding this week’s FOMC policy meeting left the US Dollar softer against several of its most traded peers. The US pending home sales report, due out at 15:00 GMT, could cause additional ‘Greenback’ movement.

USD/GBP is trading in the region of 0.5939 and USD/EUR is trading in the region of 0.7212

Euro

As investors await the release of potentially hugely influential Eurozone inflation figures the Euro is holding steady against several of its most-traded currency counterparts. A report published this morning showed a steeper-than-forecast decline in the German import price index, but the Euro was little affected.

EUR/GBP is trading in the region of 0.8233 and EUR/USD is trading in the region of 1.3866

Australian Dollar

Ukraine-inspired risk aversion reduced the appeal of the ‘Aussie’ and saw the South Pacific asset falter against several of its currency rivals. Although Australian economic reports are a little limited this week, a stream of influential global economic news is likely to drive currency movement.

AUD/GBP is trading in the region of 0.5511, AUD/EUR is trading in the region of 0.6690 and AUD/USD is trading in the region of 0.9281

New Zealand Dollar

With New Zealand’s trade data due out later today the New Zealand Dollar closed the local session little-changed. A generally risk-off environment did cause the currency to soften against the safe-haven Yen.

NZD/GBP is trading in the region of 0.5072, NZD/EUR is trading in the region of 0.6161 and NZD/USD is trading in the region of 0.8541

Canadian Dollar

Fluctuating commodity prices and ongoing Ukraine tensions pushed the Canadian Dollar lower on Monday. However, if this week’s Canadian growth figures deliver a pleasant surprise the ‘Loonie’ may recover ground.

CAD/GBP is trading in the region of 0.5386, CAD/EUR is trading in the region of 0.6541 and CAD/USD is trading in the region of 0.9077

These exchange rates were correct as of 13:00 GMT


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