28th February 2014

Inflation data triggers Euro rally


Pound Sterling

Euro to Pound

The Pound advanced on the US Dollar today as the appeal of the British asset was boosted by positive consumer confidence and home price data for the UK.

However, Sterling later slipped against a broadly strengthening Euro.

GBP/EUR is trading in the region of 1.2099 and GBP/USD is trading in the region of 1.6687

US Dollar

After Fed Chairwoman Janet Yellen asserted that the current policy of slowly tapering stimulus would be pursued, the US Dollar recorded modest gains. The ‘Greenback’ could experience movement before the weekend as a result of US growth data.

USD/GBP is trading in the region of 0.5986 and USD/EUR is trading in the region of 0.7251

Euro

The Euro surged against its currency counterparts today as consumer prices in the Eurozone rose at a faster-than-forecast pace in February, lowering the odds of additional ECB intervention.

EUR/GBP is trading in the region of 0.8266 and EUR/USD is trading in the region of 1.3794

Australian Dollar

The ‘Aussie’ posted five-day declines against several of its peers at the end of local trading as investors lost their appetite for higher-risk assets and Australian data sparked economic slowdown concerns.

AUD/GBP is trading in the region of 0.5367, AUD/EUR is trading in the region of 0.6493 and AUD/USD is trading in the region of 0.8961

New Zealand Dollar

During Australasian trading the ‘Kiwi’ advanced on its currency counterparts as a measure of business confidence for New Zealand climbed from 64.1 to 70.8. New Zealand’s activity outlook also advanced from 53.5 to 58.5 in February.

NZD/GBP is trading in the region of 0.5039, NZD/EUR is trading in the region of 0.6129 and NZD/USD is trading in the region of 0.8409

Canadian Dollar

Before Canadian growth data was published the ‘Loonie’ was struggling against several of its most traded rivals. The commodity-driven currency may extend declines if the reports show the 0.3 per cent monthly decline in growth expected by economists.

CAD/GBP is trading in the region of 0.5388, CAD/EUR is trading in the region of 0.6517 and CAD/USD is trading in the region of 0.8989

These exchange rates were correct as of 12:35 GMT


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