SendMoney.org.uk

Compare exchange rates, send money abroad and online

Fri 29 Mar 2024 10:51GMT

Exchange Rate News: EUR/GBP Neutral-Positive Outlook, USD Volatility Expected

Published: 28 Oct at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Japan, South Africa,

Pound Sterling
GBP/EUR – Trading in the Region of 1.1728
Although positive UK housing figures lifted the Pound modestly against the Euro, the British asset was little changed against its US cousin ahead of the release of UK CBI reported sales data. If the report surprised expectations Sterling could enjoy modest gains in the days ahead.

US Dollar
USD/EUR – Trading in the Region of 0.7240
Ahead of the release of US industrial production and home sales data the ‘Greenback’ was holding steady against the Euro and was slightly softer against the Pound. Although today’s economic reports will be of interest, US Dollar movement could be a little restricted prior to this week’s US retail sales report.

Euro
EUR/USD – Trading in the Region of 1.3810
As the European session progressed the Euro was little changed against the US Dollar having hit a two-year high against its American counterpart last week. While today’s UK reported sales figures could inspire EUR/GBP movement, investors will also be looking ahead to this week’s major Eurozone news – including unemployment figures for the currency block.

Australian Dollar
AUD/USD – Trading in the Region 0.9597
With economists forecasting that data will show that China’s manufacturing sector expanded by the most for 18 months, the commodity driven ‘Aussie’ rallied against its US and British rivals. This week’s Australian new home sales report will also be of interest.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8308
Ahead of the Reserve Bank of New Zealand’s rate decision, the ‘Kiwi’ was able to post modest gains against peers like the US Dollar as Asian shares climbed and economists forecast an improvement in China’s manufacturing output.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9578
Following a predominately bearish week, the ‘Loonie’ was little changed against the US Dollar but softer against the Pound as investors look ahead to Thursday’s Canadian GDP data, which is expected to show that growth slowed in August.

Japanese Yen
USD/JPY – Trading in the Region of 97.5400
After the Bank of Japan’s deputy Governor reaffirmed the central bank’s determination to continue with an accommodative easing policy the Yen broadly softened. The safe-haven asset snapped a recent run of gains against both the US Dollar and Euro and remained weaker as the European session got underway.

South African Rand
USD/ZAR – Trading in the Region of 9.7680
With South African employment and trade balance data due out this week, the Rand began the local session slightly softer against is US peer. However, if today’s US industrial production and mortgage approval data disappoints, the Rand could recover losses.
As of Monday, 28th October 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1706, GBP USD exchange rate was 1.614, GBP AUD exchange rate was 1.6908, GBP NZD exchange rate was 1.945, GBP CAD exchange rate was 1.6858, GBP CNY exchange rate was 9.8219, GBP JPY exchange rate was 157.5747, and GBP ZAR exchange rate was 15.8591.
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