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Tue 16 Apr 2024 05:34GMT

AUD Trims Gains, USD And Yen Higher

Published: 14 Mar at 11 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Germany, Japan, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6612
Although UK trade data showed that the nation’s trade deficit widened in January the Pound was supported by upbeat domestic construction output news and advanced on several of its peers.

US Dollar
USD/GBP – Trading in the Region of 0.6017
Yesterday’s better-than-forecast US retail sales figures and Ukraine-based risk aversion pushed investors towards the safe-haven ‘Greenback’ overnight. The US Dollar was consequently enjoying a stronger relationship with several of its rivals ahead of the release of the University of Michigan confidence index.

EUR/USD – Trading in the Region of 1.3891
After European Central Bank President Mario Draghi attempted to talk the Euro down by asserting that a softer local currency would help alleviate inflation risks, the Euro posted modest but widespread declines. The common currency was little-changed following the release of German inflation figures.

Australian Dollar
AUD/USD – Trading in the Region of 0.9016
The Australian Dollar trimmed recent gains overnight after Goldman and Sachs reduced their twelve month projection for the currency. Ukraine concerns also weighed on the commodity-driven currency.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8541
A positive manufacturing report for New Zealand help limit some of the ‘Kiwi’s risk-aversion inspired declines and the commodity-driven asset is still in line to post a five-day gain against the US Dollar.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9027
While encouraging domestic housing data helped the ‘Loonie’ recover ground yesterday, a lack of Canadian news is likely to limit further movement in the currency as the day continues.

Japanese Yen
USD/JPY – Trading in the Region of 101.6100
Ukraine fears sparked a flood of risk aversion and boosted the Yen against its higher-yielding rivals overnight.

South African Rand
USD/ZAR – Trading in the Region of 10.7764
The Rand ends the week slightly lower against the US Dollar thanks to investors losing their appetite for higher-risk assets.
As of Friday, 14th March 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1965, GBP USD exchange rate was 1.6648, GBP AUD exchange rate was 1.8439, GBP NZD exchange rate was 1.9502, GBP CAD exchange rate was 1.8485, GBP JPY exchange rate was 168.7246, and GBP ZAR exchange rate was 17.7559.
Laura Parsons About Author: (360 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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