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Wed 3 Jun 2020 06:48GMT

Exchange Rate News: Euro, Pound, Aussie, US Dollar

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

Pound Sterling
GBP/EUR – Trading in the Region of 1.1774
An unexpected drop in UK construction output saw the Pound soften against peers like the US Dollar and Euro this morning. Although the British asset advanced slightly as UK house prices climbed by 0.5 per cent, Sterling shed gains following the disappointing construction report and is now poised for a five day decline against the common currency.

US Dollar
USD/EUR – Trading in the Region of 0.7377
With the influential University of Michigan index due out this afternoon the US Dollar is likely to experience further movement before the weekend. As it stands the ‘Greenback’ has largely retained recent gains against peers like the Yen as the prospect of US lawmakers bringing the federal shutdown to an end supports the currency.

EUR/USD – Trading in the Region of 1.3555
The Euro rallied against its US rival and pushed beyond a five-week high against the Pound as EU harmonised German inflation held at an annualised 1.6 per cent in September. The EUR/GBP pairing went on to extend gains after the publication of disappointing UK construction news.

Australian Dollar
AUD/USD – Trading in the Region of 0.9413
Hopes that tomorrow’s Chinese trade data will show improvement in the level of the nation’s imports boosted the ‘Aussie’ during Australasian trading. The South Pacific asset was also supported by hopes that the US government could stabilise.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8241
The prospect of encouraging trade data for China and rallying Asian stocks saw the ‘Kiwi’ climb overnight. The New Zealand Dollar also strengthened against its US and British rivals before the close of the local session as investors looked ahead to NZ domestic inflation figures.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9626
Although the ‘Loonie’ fluctuated after Canada’s new house price index gained by less-than-expected and US developments saw the ‘Greenback’ advance, the Canadian Dollar was little changed this morning ahead of the release of Canadian employment data. The labour market report is expected to show an increase of 15,000 positions.

Japanese Yen
USD/JPY – Trading in the Region of 98.2900
With investors upping the odds of the US avoiding a default and Asian stocks climbing, the Yen fell against the US Dollar for a fourth day.

South African Rand
USD/ZAR – Trading in the Region of 9.8875
After putting in an impressive performance overnight and rallying against the US Dollar, the Rand was little changed this morning. With South African economic news thin on the ground until next week, further Rand movement is likely to be the result of North American news.
As of Friday, 11th October 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1779, GBP USD exchange rate was 1.5953, GBP AUD exchange rate was 1.685, GBP NZD exchange rate was 1.9169, GBP CAD exchange rate was 1.6516, GBP CNY exchange rate was 9.7642, GBP JPY exchange rate was 157.2695, and GBP ZAR exchange rate was 15.7839.
Laura Parsons About Author: (357 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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