Published: 9 Jul at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, France, Germany, Greece, Ireland, Italy, Japan, South Africa, Portugal,
GBP/USD â€“ Trading in the Region of 1.4954
Prior to the release of UK industrial production and GDP data the Pound was slightly stronger against the US Dollar but little changed against the Euro. However, with UK industrial production declining by significantly more than expected in May the Pound could decline in the hours ahead.
USD/EUR â€“ Trading in the Region of 0.7765
Anticipation surrounding the publication of minutes from the Federal Reserveâ€™s latest policy meeting and Fed Chairman Ben Bernankeâ€™s announcement caused the US Dollar to soften slightly overnight and lose ground against almost all of its rivals. â€˜Greenbackâ€™ fluctuations are likely to continue until the US news is released tomorrow.
Euro (Currency of Germany
EUR/USD â€“ Trading in the Region of 1.2882
The Euro was able to strengthen against several of its rivals, including the US Dollar and Yen, as Finance Ministers from the EU approved the next instalment of the Greek bailout package and political tensions in Portugal eased. Euro movement could be triggered today by the International Monetary Fundâ€™s global economic forecast.
AUD/USD â€“ Trading in the Region of 0.9183
Although the US Dollar weakened against several of its most traded peers, the â€˜Aussieâ€™ also lost ground as data showed inflation in China
accelerated while business conditions in Australia
declined. The â€˜Aussieâ€™ is likely to weaken further as speculation surrounding the likelihood of the Reserve Bank of Australia issuing a rate cut mounts.
NZD/USD â€“ Trading in the Region of 0.7861
Further pieces of positive economic data for New Zealand supported the commodity-driven â€˜Kiwiâ€™ during local trade. Firstly, business optimism in the nation hit an almost four-year high. Secondly, retail card spending figures exceeded expectations. The news helped the â€˜Kiwiâ€™ hold on to recent gains, despite less-than-impressive data from Australia and China.
CAD/USD â€“ Trading in the Region of 0.9497
Yesterday the â€˜Loonieâ€™ was pushed to an almost two-year low against the US Dollar by a report showing that Canadian business optimism had slumped to its lowest level since 2009. However, the currency was able recoup losses as the US Dollar weakened. Canada
â€™s housing starts figures, due out later today, could inspire further movement.
USD/JPY â€“ Trading in the Region of 101.1100
The Yen was able to strengthen modestly against the US Dollar during the local session as speculation surrounding tomorrowâ€™s US fiscal policy related news continues to grow. Japanâ€™s safe-haven asset did decline against the Euro however after the common currency was boosted by the news that EU ministers have approved the next instalment of the Greek bailout package.
South African Rand
ZAR/USD â€“ Trading in the Region of 10.1405
As the Euro strengthened on positive news from the Eurozone South Africa
â€™s Rand also climbed. The commodity driven currencyâ€™s advance on the US Dollar was aided as the â€˜Greenbackâ€™ broadly softened ahead of the Federal Reserveâ€™s announcement tomorrow.
As of Tuesday, 9th July 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1625, GBP USD exchange rate was 1.4859, GBP AUD exchange rate was 1.6213, GBP NZD exchange rate was 1.8965, GBP CAD exchange rate was 1.5649, GBP CNY exchange rate was 9.108, GBP JPY exchange rate was 150.3261, and GBP ZAR exchange rate was 14.916.