Published: 5 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,
GBP/USD â€“ Trading in the Region of 1.5014
Given the recent stream of positive UK data, the BoEâ€™s dovish policy statement took markets by surprise. In response to hints that rates will not be raised for some time to come the Pound dropped against most of its counterparts and hit a five-week low against the US Dollar. News from the US and Eurozone are likely to be the main causes of Pound movement today.
USD/EUR â€“ Trading in the Region of 0.7760
As the European session began the US Dollar was enjoying a bullish relationship with the majority of its currency peers. Economists are expecting todayâ€™s figures to show that the US unemployment rate declined to 7.5 per cent. If accurate, the â€˜Greenbackâ€™ is likely to remain supported as we head into the weekend.
EUR/USD â€“ Trading in the Region of 1.2889
An unexpectedly forward-looking statement from the European Central Bank, in which it was hinted that rates will be held at record lows until the Eurozone shows real signs of economic improvement, saw the Euro tumble against several of its most traded peers and slide below 1.29 against the US Dollar. However, the common currency was able to advance on a bearish Pound.
AUD/USD â€“ Trading in the Region of 0.9148
Both the ECBâ€™s policy statement and data showing that Australia
â€™s performance of construction index jumped from 35.3 to 39.5 in June supported the â€˜Aussieâ€™ during the local session. However, gains against the US Dollar were limited by the expectation that todayâ€™s data will show that the US economy added 165,000 positions in June.
NZD/USD â€“ Trading in the Region of 0.7815
As higher-risk currencies strengthened as a result of the ECBâ€™s pledge to maintain accommodative fiscal policy for â€˜as long as necessaryâ€™ the New Zealand Dollar was able to climb. Despite posting a modest decline against the US Dollar ahead of todayâ€™s influential North American employment figures the â€˜Kiwiâ€™ has managed to record a 1 per cent five-day gain against its US rival.
CAD/USD â€“ Trading in the Region of 0.9497
Although the commodity-driven â€˜Loonieâ€™ strengthened following the BoE and ECBâ€™s unexpectedly dovish policy statements, gains were limited ahead of todayâ€™s employment data. While economists are forecasting a less-than-impressive result for Canada
, the expectation of a positive US non-farm payrolls report is supporting the US Dollar.
USD/JPY â€“ Trading in the Region of 100.2900
The ECB and BoE policy statements saw the Yen climb on the Euro and Pound during the European session. The Asian currency weakened slightly against the US Dollar on expectations for a decline in the US unemployment rate.
South African Rand
ZAR/USD â€“ Trading in the Region of 10.0325
Yesterdayâ€™s unprecedented hints from the ECB regarding maintaining a loose fiscal policy for the foreseeable future boosted the commodity-driven Rand yesterday. However, the currency lost a little ground this morning as the US Dollar broadly strengthened in anticipation of todayâ€™s non-farm payrolls report.
As of Friday, 5th July 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1606, GBP USD exchange rate was 1.489, GBP AUD exchange rate was 1.6421, GBP NZD exchange rate was 1.9317, GBP CAD exchange rate was 1.5758, GBP JPY exchange rate was 150.6734, and GBP ZAR exchange rate was 15.1909.