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USD Holds Declines, AUD Close To Four-Month High

Published: 7 Apr at 11 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Italy, Japan, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6570
In a light UK news day the Pound began the local session little-changed against several of its most traded peers. Tomorrow’s UK industrial/manufacturing figures could have an impact on Sterling’s performance.

US Dollar
USD/GBP – Trading in the Region of 0.6033
After dropping last week in response to disappointing US employment figures, the ‘Greenback’ recovered losses against the Euro on Monday. The US currency was stronger against several of its rivals ahead of the release of minutes from the most recent Federal Open Market Committee meeting.

EUR/USD – Trading in the Region of 1.3714
During European trading on Monday the Euro came under pressure following the release of Italy’s deficit to GDP report for the fourth quarter. However, declines in the common currency were limited as the Sentix measure of investor confidence for the Eurozone rose from 13.9 to 14.1 in April.

Australian Dollar
AUD/USD – Trading in the Region of 0.9283
Overnight the ‘Aussie’ continued trading in the region of a fourth-month high against both the Euro and US Dollar. With Australian employment figures due out later this week the Australian Dollar could be in for some volatility.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8601
While ‘Kiwi’ movement was fairly restrained overnight, the commodity-driven currency did derive some support from a report showing that New Zealand’s house prices were up 8.8 per cent on the year in March.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9102
Last week the ‘Loonie’ enjoyed widespread gains thanks to better-than-forecast domestic employment data. The Canadian Dollar largely retained these gains over the weekend but could fluctuate later today as a result of Canada’s business outlook report.

Japanese Yen
USD/JPY – Trading in the Region of 103.1200
The Yen modestly strengthened against several of its main currency rivals ahead of the conclusion of the Bank of Japan’s policy meeting.

South African Rand
USD/ZAR – Trading in the Region of 10.4980
At the close of last week the Rand rallied against a broadly softening US Dollar. The USD/ZAR pairing was holding steady on Monday and with South African data limited until Thursday, US news will be the main cause of volatility.
As of Monday, 7th April 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2085, GBP USD exchange rate was 1.661, GBP AUD exchange rate was 1.7929, GBP NZD exchange rate was 1.9301, GBP CAD exchange rate was 1.8228, GBP JPY exchange rate was 171.2476, and GBP ZAR exchange rate was 17.473.
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.

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