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Mon 30 Nov 2020 21:01GMT

Exchange Rate News: EUR/USD Weaker, GBP/AUD Stronger

Published: 15 Jan at 10 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 1.6400
This morning Sterling pared gains against the US Dollar as investors focused on a financial stability testimony due to be delivered by Bank of England Governor Mark Carney. The Pound continued to trade higher against the Euro.

US Dollar
USD/GBP – Trading in the Region of 0.6098
A slightly larger than expected gain in US retail sales added to the case for the Federal Reserve continuing to taper stimulus and left the ‘Greenback’ buoyed against several of its rivals overnight. The US Dollar may climb further if the tone adopted in the Federal Reserve Beige book report is optimistic.

EUR/USD – Trading in the Region of 1.3627
After edging away from a two-week high against the US Dollar following the release of US retail sales figures, the Euro extended declines during European trading thanks to disappointing German growth data. The Eurozone’s largest economy expanded by 0.4 per cent in 2013 rather than the 0.5 per cent expected.

Australian Dollar
AUD/USD – Trading in the Region of 0.8895
Although economists are expecting tomorrow’s Australian employment report to show that the nation added positions in December, the commodity-driven ‘Aussie’ struggled against its rivals overnight.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8341
In another stilted trading session, New Zealand Dollar movement was limited. However, by the close of Australasian trading the ‘Kiwi’ had slipped slightly against the Pound and US Dollar.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9113
‘Loonie’ losses were compounded overnight as the surprising US retail sales figures boosted the US Dollar at the expense of its neighbouring currency. Today’s Canadian existing home sales figure could trigger Canadian Dollar movement.

Japanese Yen
USD/JPY – Trading in the Region of 104.3600
Concerning current account deficit data for Japan left the Yen weaker against the US Dollar and the Asian asset remained lower in spite of a report detailing a 28.0 per cent year-on-year gain in Japanese machine tool orders.

South African Rand
USD/ZAR – Trading in the Region of 10.8599
The Rand was left weaker against the majority of its currency counterparts following the release of less-than-impressive South African mining production figures. If today’s domestic retail sales report also falls short of estimates the Rand could fall for a fourth day.
As of Wednesday, 15th January 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2031, GBP USD exchange rate was 1.6361, GBP AUD exchange rate was 1.8376, GBP NZD exchange rate was 1.9638, GBP CAD exchange rate was 1.7915, GBP JPY exchange rate was 171.1109, and GBP ZAR exchange rate was 17.7979.
Dominic Lee About Author: (443 Posts)With over ten years experience as an economist – including four years spent as a chief economist with a major currency broker – Dominic has acquired a wealth of knowledge which he uses to forecast market movements. Dominic now works as an independent business advisor and writes for several financial publications.

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