SendMoney.org.uk

Compare exchange rates, send money abroad and online

Fri 29 Mar 2024 08:57GMT

Yen (JPY) Rallies, Aussie (AUD) And Kiwi (NZD) Decline

Published: 11 Jun at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, France, Japan, South Africa,

Pound Sterling
GBP/USD – Trading Lower, 1.5539
Sterling may fluctuate this morning as year-on-year UK manufacturing production was shown to have declined by more than forecast in April, although industrial production posted an unexpected 0.1 per cent month-on-month gain. Additional Pound movement is likely to occur this afternoon following the release of the NIESR GDP estimate for May.

US Dollar
USD/JPY – Trading Lower, 98.2700
The Bank of Japan’s decision to continue with its current level of fiscal stimulus caused the Yen to rally and the US Dollar declined against its Asian counterpart before the European session opened. The next piece of particularly volatile US data, advance retail sales figures, is due out on Thursday. Economists are predicting that following a 0.1 per cent advance in April retail sales will have grown by 0.4 per cent in May.
Euro
EUR/USD – Trading Higher, 1.3262
The Euro gained on several of its most traded currency peers yesterday as French President Francois Hollande assured the world that the Eurozone crisis is over. As the day progresses and the review of the European Central Bank’s OMT programme gets underway the Euro could experience further movement.

Australian Dollar
AUD/USD – Trading Lower, 0.9340
The odds of the Reserve Bank of Australia issuing a rate cut increased as a report showed that the nation’s home-loan approvals grew at the slowest pace for three months. The ‘Aussie’ consequently fell close to a four-year low against its US counterpart. The South Pacific currency also posted a notable decline against a bullish Yen.

New Zealand Dollar
NZD/USD – Trading Lower, 0.7827
The New Zealand Dollar continued its bearish relationship with the US Dollar during local trade, falling by 0.9 per cent against its safe-haven counterpart. The ‘Kiwi’ also fell against a broadly strengthening Yen as the Bank of Japan opted to keep its present level of monetary stimulus unaltered. The next piece of influential economic news for New Zealand, card spending figures, is due out at 23:45 GMT.

Canadian Dollar
CAD/USD – ‘Loonie’ Stronger, 0.9785
The recent run of positive Canadian data continued yesterday as new home construction in the nation increased at its most rapid pace for over a year. The better-than-expected report allowed the ‘Loonie’ to advance on peers including the US Dollar. With domestic economic data thin on the ground today additional Canadian Dollar movement is likely to occur in response to global economic developments.

Japanese Yen
USD/JPY – Yen Stronger, 98.2700
As the Bank of Japan opted to maintain its unprecedented level of stimulus at its most recent fiscal policy meeting the Yen broadly rallied, climbing against all of its most traded peers and briefly strengthening to 97.78 against the US Dollar.

South African Rand
ZAR/USD – Rand Weaker, 10.2540
The Rand continued to trade within the region of a four-year low against the US Dollar ahead of the publication of today’s South African industrial production figures. Economists are forecasting a year-on-year gain of 3.5 per cent following the 2.2 per cent drop in March.

As of Tuesday, 11th June 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1749, GBP USD exchange rate was 1.5644, GBP AUD exchange rate was 1.6534, GBP NZD exchange rate was 1.9814, GBP CAD exchange rate was 1.5934, GBP JPY exchange rate was 150.3616, and GBP ZAR exchange rate was 15.7535.
Laura Parsons About Author: (360 Posts)Laura works in the financial sector as a currency analyst, studying the latest global economic developments and assessing their impact on the foreign exchange market. Laura uses her currency knowledge to write articles focussing on market movements and trends for several independent financial websites.

Live Exchange Rates