SendMoney.org.uk

Compare exchange rates, send money abroad and online

Mon 15 Jul 2019 21:32GMT

Exchange Rate News: CPI Data Triggers GBP/EUR Movement

Published: 12 Nov at 10 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 1.1909
Before UK consumer price inflation figures were published the Pound was softer against the US Dollar but holding steady against the Euro. Economists expected prices to slide from 2.7 per cent to 2.5 per cent in October, still considerably above the Bank of England’s 2 per cent target. However, the index actually dipped to 2.2 per cent so Sterling volatility is likely.

US Dollar
USD/EUR – Trading in the Region of 0.7469
Today two prominent Federal Reserve officials are due to deliver speeches. If the central bank representatives adopt a hawkish tone regarding tapering quantitative easing the ‘Buck’ could extend recent gains against peers like the Pound and Yen.

Euro
EUR/USD – Trading in the Region of 1.3377
With today’s German inflation data confirming that consumer prices in the Eurozone’s largest economy rose at their slowest rate for three years the Euro retained declines against the US Dollar but fluctuated against the Pound.

Australian Dollar
AUD/USD – Trading in the Region of 0.9323
After a gauge of business confidence showed a steep decline in Australian sentiment the ‘Aussie’ slipped to a six-week low against the US Dollar. The Australian Dollar also softened against peers like the Euro and Pound.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8222
As Chinese officials gathered in Beijing to discuss economic policy for the world’s second largest economy, growth concerns weighed on the currencies of China’s main trading partners, including the New Zealand Dollar. The commodity-driven asset lost ground against peers like the US Dollar and Pound before European trading began.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9530
The ‘Loonie’ recorded modest gains yesterday as signs of improvement in the US economic recovery boosted Canada’s trade prospects and supported the nation’s currency. The Canadian Dollar strengthened against the ‘Greenback’ but could shed gains depending on the tone of today’s speeches by Fed officials.

Japanese Yen
USD/JPY – Trading in the Region of 99.6900
As Australasian trading closed the Yen was close to an eight-week low against the US Dollar having weakened in response to Asian stocks climbing for a second day. The disparity between yields on 30 year bonds for the US and Japan also had an adverse impact on the Yen.

South African Rand
USD/ZAR – Trading in the Region of 10.4064
Ahead of tomorrow’s retail sales report for South Africa the Rand is feeling the pressure. With domestic strike concerns remaining and the prospect of the Federal Reserve tapering stimulus hanging like a dark cloud over emerging-market currencies the Rand was softer against the Pound and US Dollar during local trading.
As of Tuesday, 12th November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1824, GBP USD exchange rate was 1.589, GBP AUD exchange rate was 1.7082, GBP NZD exchange rate was 1.9348, GBP CAD exchange rate was 1.6672, GBP CNY exchange rate was 9.6798, GBP JPY exchange rate was 158.2923, and GBP ZAR exchange rate was 16.4446.
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.

Live Exchange Rates