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Mon 13 Jul 2020 06:42GMT

GBP Softer After UK CPI, EUR Fluctuates After ZEW

Published: 15 Apr 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,

Pound Sterling
GBP/USD – Trading in the Region of 1.6715
Over the course of European trading the Pound declined against the US Dollar. The British asset was knocked as domestic data showed that inflation slowed to a four and a half month low, moving further away from the Bank of England’s 2 per cent target.

US Dollar
USD/GBP – Trading in the Region of 0.5983
The US Dollar was supported against several of its major rivals as investors awaited Fed Chairman Janet Yellen’s upcoming speech. The ‘Greenback’ broadly strengthened yesterday in response to unexpectedly good US retail sales data.

Euro
EUR/USD – Trading in the Region of 1.3797
Although Eurozone trade figures were better-than-forecast, Euro gains were a little limited ahead of tomorrow’s inflation data for the 18-nation currency bloc. The common currency also came under pressure as ZEW measures of German expectations and economic sentiment declined.

Australian Dollar
AUD/USD – Trading in the Region of 0.9389
With minutes from the Reserve Bank of Australia’s recent policy meeting showing that the central bank intends to keep interest rates at record lows for the foreseeable future, the Australian Dollar lost ground against several of its most traded rivals overnight.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8646
Ahead of the publication of New Zealand’s inflation report the ‘Kiwi’ was struggling against the US Dollar. Concerns that tomorrow’s Chinese growth data will confirm a slowing in the world’s second largest economy continue to weigh on the New Zealand and Australian Dollars.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9098
With the Bank of Canada’s rate decision looming, ‘Loonie’ movement might be a little limited before Wednesday. That being said, today’s Canadian existing home sales figures could inspire some Canadian Dollar movement.

Japanese Yen
USD/JPY – Trading in the Region of 101.8400
Although the Yen was boosted by Ukraine-inspired risk aversion, the Asian asset continued trading lower against the US Dollar following yesterday’s impressive US retail sales report.

South African Rand
USD/ZAR – Trading in the Region of 10.5087
The Rand was holding steady against its peers ahead of the release of US inflation data. With South African data lacking until tomorrow, any Rand movement will be the result of US developments.
As of Tuesday, 15th April 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2109, GBP USD exchange rate was 1.6727, GBP AUD exchange rate was 1.7882, GBP NZD exchange rate was 1.9402, GBP CAD exchange rate was 1.8368, GBP CNY exchange rate was 10.4078, GBP JPY exchange rate was 170.3739, and GBP ZAR exchange rate was 17.6653.
Patrick James About Author: (289 Posts)Patrick completed his economics degree just as the global financial crisis struck in 2008. In the intervening years Patrick has made his mark, climbing to a prominent position within a large financial services provider. As part of his role Patrick uses his expertise to advise companies of the best ways to safeguard against currency risk.

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