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Exchange Rates - Aussie Drops (AUD/USD) Kiwi Climbs (NZD/AUD) Euro Strengthens (EUR/GBP)

Published: 2 Jul at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Japan, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.5220
Yesterday’s better than expected UK manufacturing data helped the Pound post modest gains against several of its peers. Although the British currency was little changed as local trade began it could soften slightly in response to a report showing that the UK construction sector expanded by less than forecast in June.

US Dollar
USD/EUR – Trading in the Region of 0.7658
With yesterday’s domestic manufacturing report revealing a rebound in the sector the US Dollar was able to climb to an almost four-week high against the Yen. Today’s US factory order figures are likely to be the primary cause of ‘Greenback’ fluctuations in the hours ahead.

EUR/USD – Trading in the Region of 1.3059
A report showing that the Eurozone’s manufacturing sector contracted by less-than-expected helped ease the Euro close to 86 pence per Euro against the Pound. The common currency also gained modestly on the US Dollar. Additional movement can be expected to occur in response to the Eurozone’s producer price index – due out at 10:00 GMT.

Australian Dollar
AUD/USD – Trading in the Region of 0.9193
While the Reserve Bank of Australia opted to keep rates unchanged at today’s policy meeting (as predicted by economists) the central bank’s comments regarding the currency’s depreciation saw it fall against rivals including the US Dollar. Tomorrow several pieces of key data, including Australia’s trade balance and retail sales figures, could be a catalyst for ‘Aussie’ volatility.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.7797
During the Australasian session the New Zealand Dollar advanced on its American and Australian counterparts. The ‘Kiwi’ was able to post a notable gain against the ‘Aussie’ after the Reserve Bank of Australia’s latest policy statement triggered widespread declines in the latter currency.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9519
With local markets closed for a national holiday the Canadian Dollar experienced limited movement yesterday, but ongoing growth concerns kept the ‘Loonie’ trading in the region of 95 US cents. With an absence of local data further Canadian Dollar movement is most likely to be inspired by US factory order figures.

Japanese Yen
USD/JPY – Trading in the Region of 99.8300
Although a positive US manufacturing report pushed the Yen close to a four-week low against the US Dollar, the Asian currency was able to recover some ground during local trade. News from the US is likely to be the main cause of Yen movement as the week progresses.

South African Rand
ZAR/USD – Trading in the Region of 9.8899
In spite of a better-than-forecast local manufacturing report, the Rand was slightly weaker against the US Dollar this morning as investors look ahead to Friday’s influential US employment reports.
As of Tuesday, 2nd July 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1675, GBP USD exchange rate was 1.5151, GBP AUD exchange rate was 1.657, GBP NZD exchange rate was 1.9542, GBP CAD exchange rate was 1.5984, GBP JPY exchange rate was 152.635, and GBP ZAR exchange rate was 15.1393.
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.

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