Published: 12 Dec at 10 AM Tags: Euro, Dollar, Pound Sterling, America, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Japan, South Africa,
The Pound snapped its largest decline in two weeks against the US Dollar and halted its slide against the Euro as investors wait for Chancellor of the Exchequer George Osborne to stand before a parliamentary committee and explain his autumn statement.
The US Dollar found support yesterday as news broke that U.S. Congressional leaders had reached an agreement on a two year budget deal. Today sees the release of jobless claims and retail sales data which are likely to create some volatility for the currency.
The Euro made its longest rally since 2011 against the US Dollar as economists wait for European Central Bank President Mario Draghi to deliver a speech to the European Union Parliament. Investors will be looking to see if he will make any mention of negative rates or easing measures.
The â€˜Aussieâ€™ fell against the Pound and US Dollar after unemployment data showed that the number of people out of work climbed a 2009 high.
The â€˜Kiwiâ€™ rallied against the US Dollar and Pound after the Reserve Bank of New Zealand choosing to maintain interest rates at 2.5%.
The Canadian Dollar climbed for a seventh consecutive day against the US Dollar as crude oil, Canada
â€™s biggest export, continued to strengthen in price.
The Yen fell against the Dollar and the Euro, re-approaching recent lows amid ongoing uncertainty over the timing of a possible reduction in the Federal Reserveâ€™s stimulus program. A cut is looking increasingly likely as US data continues to be positive. The Yen remains under pressure after Japanese Central Bank increased its stimulus measures at its last policy meeting.
South African Rand
The Rand has fallen to its weakest level in a week as traders sell-off the riskier currency ahead of the release of local producer inflation data.
As of Thursday, 12th December 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1883, GBP USD exchange rate was 1.6339, GBP AUD exchange rate was 1.831, GBP NZD exchange rate was 1.9879, GBP CAD exchange rate was 1.7392, GBP JPY exchange rate was 169.2085, and GBP ZAR exchange rate was 17.0127.