Compare exchange rates, send money abroad and online

Tue 16 Apr 2024 05:49GMT

Exchange Rate News: GBP/EUR And GBP/AUD Surge On UK Data

Published: 3 Dec 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/USD– Trading in the Region of 1.6410
In the wake of yesterday’s positive UK news the Pound broadly strengthened, hitting multi-month and multi-year highs against several of its peers. This morning UK construction PMI has also come in considerably above estimates and is likely to push Sterling higher still.

US Dollar
USD/EUR – Trading in the Region of 0.7377
While an unexpectedly strong US manufacturing report did renew tapering speculation and help the US Dollar rally to a six-month high against the Yen, the currency enjoyed few gains against a bullish Pound. A lack of influential US data could moderate market movement in the hours ahead.

EUR/USD – Trading in the Region of 1.3558
Unless the Eurozone producer price index delivers a significant surprise Euro movement is likely to be limited today. While the common currency largely retained gains recorded against the US Dollar in the aftermath of yesterday’s positively revised PMI reports for the Eurozone, it was struggling against the Pound and could decline further as investors react to today’s UK news.

Australian Dollar
AUD/USD – Trading in the Region of 0.9092
As Australasian trading got underway the ‘Aussie’ posted slight gains as domestic retail sales data came in above estimates. However, after the Reserve Bank of Australia asserted that the Australian Dollar was ‘uncomfortably high’ the commodity driven asset pared its advance and slid against most of its major rivals.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8201
While the ‘Kiwi’ surged above a five-year high against the ‘Aussie’ it lost ground against the US Dollar and Sterling as China’s non-manufacturing PMI dipped in November.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9408
The Canadian Dollar dropped to a two-year low against the ‘Buck’ during the local session as the odds of the Bank of Canada increasing interest rates declined and the US economic outlook was supported by strong manufacturing data. The ‘Loonie’ also slipped against peers like the Pound.

Japanese Yen
USD/JPY – Trading in the Region of 103.1700
Overnight the Yen plummeted beyond 103 Yen per Dollar as renewed tapering discussions pushed the ‘Greenback’ higher at the expense of the safe-haven Asian asset.

South African Rand
USD/ZAR – Trading in the Region of 10.2950
Although the Rand fluctuated after yesterday’s South African manufacturing report delivered a positive surprise, concerns regarding upcoming domestic current-account deficit data later pushed the Rand to a three-week low against the US Dollar.
As of Tuesday, 3rd December 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2059, GBP USD exchange rate was 1.6388, GBP AUD exchange rate was 1.7949, GBP NZD exchange rate was 1.9892, GBP CAD exchange rate was 1.7439, GBP CNY exchange rate was 9.9843, GBP JPY exchange rate was 167.7404, and GBP ZAR exchange rate was 16.9302.
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