Published: 10 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, India, Ireland, Italy, Japan, South Africa, Portugal,
GBP/USD â€“ Trading in the Region of 1.4896
Yesterdayâ€™s disappointing UK industrial production and manufacturing figures pushed the Pound to a three-year low against the US Dollar and saw Sterling adopt a bearish relationship with the majority of its other currency peers. However, as investors look ahead to next weekâ€™s UK inflation figures the Pound was able to strengthen modestly. A lack of British economic news could limit Sterling movement during the local session.
USD/EUR â€“ Trading in the Region of 0.7809
With Federal Reserve Chairman Ben Bernankeâ€™s announcement looming, the US Dollar softened slightly overnight. However, if Bernanke intimates that easing will be tapered this year the â€˜Greenbackâ€™ could broadly strengthen. The publication of minutes from the Federal Open Market Committee Policy Meeting will also be of interest.
Euro (Currency of Germany
EUR/USD â€“ Trading in the Region of 1.2803
The Euro shed recent gains against the US Dollar yesterday as an official from the European Central Bank stated that rates would be held at low levels for over a year in order to drive the Eurozoneâ€™s economic recovery forward. The common currency was little changed this morning following the release of German CPI figures, which met economistâ€™s expectations.
AUD/USD â€“ Trading in the Region of 0.9207
Disappointing trade figures from China
wore on the Australian Dollar during Australasian trade. However, speculation that the â€˜Aussieâ€™s drop has been overdone later saw the South-Pacific currency claw its way to a week high against the US Dollar. Although todayâ€™s US news is likely to be the main driver of market movement, economists will also be looking ahead to tomorrowâ€™s Australian employment data.
NZD/USD â€“ Trading in the Region of 0.7867
After New Zealandâ€™s Finance Minister expressed his confidence in the likelihood of rates rising, the â€˜Kiwiâ€™ advanced on several of its counterparts. If todayâ€™s performance of manufacturing index for New Zealand offers another positive result it could support the commodity-driven currency further.
CAD/USD â€“ Trading in the Region of 0.9515
The price of crude-oil rising to an almost 14-month high and expectations that corporate profits will exceed estimates helped the â€˜Loonieâ€™ rally against the US Dollar during the local session. Canada
â€™s commodity-driven currency is likely to experience movement as a result of todayâ€™s US news.
USD/JPY â€“ Trading in the Region of 100.5600
With signs that Japanâ€™s economy is recovering increasing, and the likelihood of the Bank of Japan implementing additional easing this year consequently declining, the Yen advanced on all of its currency rivals. The Bank of Japan will release its policy statement and rate decision tomorrow. A surprising result could inspire additional Yen movement.
South African Rand
ZAR/USD â€“ Trading in the Region of 9.9535
News that an illegal strike at a major South African Platinum mine had come to an end, coupled with improved risk sentiment, saw the Rand strengthen against its peers yesterday. South Africa
â€™s Rand was among the best performing of the emerging market currencies on Tuesday, along with India
As of Wednesday, 10th July 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1516, GBP USD exchange rate was 1.5182, GBP AUD exchange rate was 1.6375, GBP NZD exchange rate was 1.9101, GBP CAD exchange rate was 1.5763, GBP CNY exchange rate was 9.3126, GBP INR exchange rate was 90.1082, GBP JPY exchange rate was 149.6518, and GBP ZAR exchange rate was 14.9915.