Published: 12 May at 1 PM 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,
GBP/USD – Trading in the Region of 1.6890
The Pound began the week in a comparatively strong position against peers like the US Dollar and Euro as investors bet that this week’s UK employment report would show a decline in the nation’s unemployment rate. An improvement in the Lloyd’s employment index also supported Sterling.
USD/GBP – Trading in the Region of 0.5919
While Ukraine-inspired risk aversion bolstered the safe-haven US Dollar, the asset was little changed against its major rivals before the US monthly budget statement was delivered.
EUR/USD – Trading in the Region of 1.3760
After broadly softening last week following the European Central Bank policy statement, the Euro largely held declines on Monday. The common currency was trading in a narrow range ahead of tomorrow’s ZEW economic sentiment surveys for Germany
and the Eurozone.
AUD/USD – Trading in the Region of 0.9374
Although a measure of Australian business confidence showed improvement, the ‘Aussie’ closed the local session in a weaker position against the Pound and US Dollar. Chinese industrial production and retail sales reports could cause movement in the currency overnight.
NZD/USD – Trading in the Region of 0.8625
After the release of New Zealand’s house sales and house price index reports, the ‘Kiwi’ was little changed against its major rivals. Tomorrow’s domestic retail sales figures are far more likely to have a notable impact on the New Zealand Dollar’s exchange rate.
CAD/USD – Trading in the Region of 0.9179
On Friday disappointing Canadian employment data left the commodity-driven currency struggling against its rivals. While a lack of domestic reports could limit ‘Loonie’ movement in the days ahead, Thursday’s existing home sales figures will be of interest.
USD/JPY – Trading in the Region of 101.9000
As referendum developments in Ukraine triggered a bout of risk aversion, the safe-haven Yen broadly strengthened. The Yen was also supported by the news that Japan’s eco watchers survey of future conditions showed a much stronger-than-expected increase.
South African Rand
USD/ZAR – Trading in the Region of 10.3499
The expectation that this week’s mining production and retail sales figures will disappoint wore on the Rand on Monday. A risk-off environment also led to the commodity-driven currency easing lower against its major rivals.
As of Monday, 12th May 2014, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.2264, GBP USD exchange rate was 1.6871, GBP AUD exchange rate was 1.8021, GBP NZD exchange rate was 1.9564, GBP CAD exchange rate was 1.8385, GBP CNY exchange rate was 10.5232, GBP JPY exchange rate was 172.4189, and GBP ZAR exchange rate was 17.4762.