26th February 2014

Pound unaffected by UK Growth Data


Pound Sterling

Euro to Pound

Sterling was little-changed against peers like the Euro and US Dollar after UK growth data met forecasts for fourth-quarter expansion of 0.7 per cent.

GBP/EUR is trading in the region of 1.2146 and GBP/USD is trading in the region of 1.6686

US Dollar

The US Dollar continued to trade lower against peers like the Pound and Euro following yesterday’s disappointing US consumer confidence report. Today’s US mortgage applications and new home sales figures could influence US Dollar movement ahead of Janet Yellen’s senate testimony on Thursday.

USD/GBP is trading in the region of 0.5994 and USD/EUR is trading in the region of 0.7278

Euro

After a gauge of German consumer confidence strengthened unexpectedly the Euro posted modest advances against several of its currency counterparts. The asset continues to struggle against the Pound however as speculation surrounding next week’s ECB policy meeting mounts.

EUR/GBP is trading in the region of 0.8233 and EUR/USD is trading in the region of 1.3741

Australian Dollar

Falling iron ore prices and less-than-impress Australian construction data left the ‘Aussie’ weaker against its major peers overnight. Further Australian Dollar movement may be limited ahead of Saturday’s Chinese manufacturing PMI for February.

AUD/GBP is trading in the region of 0.5393, AUD/EUR is trading in the region of 0.6553 and AUD/USD is trading in the region of 0.8999.

New Zealand Dollar

New Zealand Dollar movement may have been limited by a lack of influential domestic news this week but ‘Kiwi’ fluctuations are likely to occur tonight after New Zealand’s trade balance data is published.

NZD/GBP is trading in the region of 0.4999, NZD/EUR is trading in the region of 0.6065 and NZD/USD is trading in the region of 0.8333

Canadian Dollar

Claims that the ‘Loonie’ is around 10 per cent overvalued kept the Canadian Dollar under pressure yesterday. The commodity-driven currency consolidated declines against the Pound during European trading. US news may inspire Canadian Dollar movement before the local session ends.

CAD/GBP is trading in the region of 0.5413, CAD/EUR is trading in the region of 0.6574 and CAD/USD is trading in the region of 0.9032

These exchange rates were correct as of 12:45 GMT


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