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Sun 3 Jul 2022 15:34GMT

Defusing Tension In The Ukraine Sees Yen Fall

Published: 4 Mar at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Japan, Russia, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6700
Before the release of UK construction figures the Pound was a little softer against peers like the US Dollar and Euro... Tomorrow’s services report and BRC shop price index will also have an impact on Sterling.

US Dollar
USD/GBP – Trading in the Region of 0.5987
The news that Russia ended military exercises in the west reduced demand for safe-haven assets overnight and the US Dollar lost ground against several of its most traded currency counterparts. A lack of significant US data may limit ‘Greenback’ movement as the day progresses.

EUR/USD – Trading in the Region of 1.3750
Yesterday the Euro gained as measures of manufacturing for the Eurozone and its largest economies surprised to the upside. The common currency held its advance against the Pound and is unlikely to be much moved by today’s Eurozone producer price index.

Australian Dollar
AUD/USD – Trading in the Region of 0.8956
While the RBA opted to leave policy unaltered (as expected by the majority of economists) the central bank did intimate that the ‘Aussie’ remains overvalued. The South Pacific asset consequently dipped against the US Dollar but was little changed against the Pound.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8385
The New Zealand Dollar was barely affected by a domestic report showing a 0.9 per cent increase in ANZ commodity prices in February. The ‘Kiwi’ ended the Australasian session slightly softer against its Australian counterpart.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9024
Yesterday the Canadian Dollar advanced as the price of commodities like Brent oil surged in response to Ukrainian concerns. With some of the tension defusing and commodity prices lowering again the ‘Loonie’ has trimmed its gains.

Japanese Yen
USD/JPY – Trading in the Region of 101.7700
Reports that Russia has brought military exercises to an end in the west saw the Yen record its biggest decline against the US Dollar for two weeks. The Yen softened against all of its most traded currency counterparts.

South African Rand
USD/ZAR – Trading in the Region of 10.8320
The Rand recovered some of its recent declines as local trading opened and investors rediscovered their appetite for higher risk assets.
As of Tuesday, 4th March 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2128, GBP USD exchange rate was 1.6664, GBP AUD exchange rate was 1.8615, GBP NZD exchange rate was 1.9862, GBP CAD exchange rate was 1.8481, GBP JPY exchange rate was 170.2918, GBP RUB exchange rate was 60.2588, and GBP ZAR exchange rate was 17.9302.
Dominic Lee About Author: (474 Posts)With over ten years experience as an economist – including four years spent as a chief economist with a major currency broker – Dominic has acquired a wealth of knowledge which he uses to forecast market movements. Dominic now works as an independent business advisor and writes for several financial publications.

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