SendMoney.org.uk

Compare exchange rates, send money abroad and online

Thu 23 Jan 2020 23:28GMT

Exchange Rate News: EUR/USD At Two-Week Low, USD Broadly Stronger

Published: 1 Nov 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 1.1827
Although UK manufacturing PMI slipped in October, it remained well above the 50 mark separating growth from contraction and the Pound was able to retain yesterday’s advance against the Euro after the data was released. Sterling remained softer against a bullish US Dollar.

US Dollar
USD/EUR – Trading in the Region of 0.7390
While the US Dollar continues to derive support from the FOMC’s slightly hawkish policy statement, the ‘Greenback’ also extended gains against the Pound and Euro ahead of the release of US manufacturing data. The report is expected to show that the sector expanded in October in spite of the Federal shutdown.

Euro
EUR/USD – Trading in the Region of 1.3537
Yesterday’s surprising Eurozone inflation data, which showed that inflation fell even further below the European Central Bank’s target last month, left the Euro languishing close to a two-week low against the US Dollar and broadly softer against the majority of its most traded counterparts.

Australian Dollar
AUD/USD – Trading in the Region 0.9477
Although the ‘Aussie’ closed Australasian trading slightly softer against its US counterpart, the South Pacific asset did strengthen against several of its main rivals as the Chinese and Australian manufacturing sectors expanded by more than expected.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8274
While positive manufacturing data from China did increase the appeal of higher-risk assets like the ‘Kiwi’, comments from the Reserve Bank of New Zealand piled on the pressure. The RNBZ stated that a rate hike could be deferred because of the strong local currency and the New Zealand Dollar posted widespread declines as a result.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9593
Yesterday’s stronger-than-forecast Canadian growth figures boosted the ‘Loonie’ against its US and British rivals. The commodity-driven asset then derived additional support from encouraging Chinese manufacturing data. However, with an influential US manufacturing report due out later today, further CAD movement can be expected.

Japanese Yen
USD/JPY – Trading in the Region of 98.0500
With Asian stocks dipping and demand for safe-haven assets rising, the Yen advanced on the majority of its most traded currency rivals during Australasian trading.

South African Rand
USD/ZAR – Trading in the Region of 9.9950
Domestic mining concerns and speculation surrounding the timeline for the Federal Reserve tapering easing left the Rand trading close to a month-low against the US Dollar as the local session progressed. If today’s US manufacturing report positively surprises expectations the Rand could weaken below the psychological 10 Rand per Dollar level.
As of Friday, 1st November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1809, GBP USD exchange rate was 1.5927, GBP AUD exchange rate was 1.6874, GBP NZD exchange rate was 1.927, GBP CAD exchange rate was 1.6598, GBP CNY exchange rate was 9.7147, GBP JPY exchange rate was 157.1111, and GBP ZAR exchange rate was 16.2296.
Laura Parsons About Author: (357 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