Published: 15 May at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, France, Germany, Japan, South Africa,
GBP/USD â€“ Trading Lower, 1.5196
Sterling dipped below 1.52 against the US Dollar prior to the release of the Bank of Englandâ€™s inflation report. However, the Pound was able to gain on the Euro as German and French GDP disappointed. This morningâ€™s UK employment figures, which are expected to show a 3,000 drop in unemployment claims, are also likely to be responsible for Sterling movement.
USD/EUR â€“ Trading Higher, 0.7732
As growth data for the Eurozoneâ€™s two largest economies, Germany
, failed to meet expectations the US Dollar advanced on a broadly softening Euro. The safe-haven US Dollar also climbed against the majority of its higher-risk rivals as positive US news increases the odds of the Federal Reserve stepping down its easing programme.
EUR/USD â€“ Trading Lower, 1.2892
The Euro lost ground against the majority of its most traded peers as the European session began as the market responded to worse-than-anticipated French and German GDP figures. With Eurozone GDP figures still to be published, significant Euro movement could occur in the hours ahead.
AUD/USD â€“ Trading Lower, 0.9862
As the week progresses the Australian Dollar continues to feel the pressure. During the local session data showing a smaller-than-expected increase in the Australian wage index for the first three months of this year helped push the â€˜Aussieâ€™ within touching distance of an 11-month low against its US counterpart.
NZD/USD â€“ Trading Lower, 0.8185
With economists speculating that the recent run of impressive US data could encourage the Federal Reserve to bring the present level of quantitative easing to an end, the appeal of higher-risk assets like the â€˜Kiwiâ€™ was reduced. The New Zealand Dollar consequently fell against the â€˜Greenbackâ€™ and several of its other peers.
CAD/USD â€“ Trading Lower, 0.9805
During local trade the â€˜Loonieâ€™ reversed recent gains, dropping against the US Dollar in reaction to lowering commodity prices. Several pieces of domestic and foreign data will affect the Canadian Dollar in the hours ahead, including Canadian existing home sales and US industrial production figures.
JPY/USD â€“ Trading Higher 102.4800
Although the Yen recovered some strength yesterday as investors worried that its decline had been too rapid, the Asian currency weakened to 102 Yen once more as the safe-haven US Dollar was supported by a bout of risk aversion in the marketplace.
ZAR/USD â€“ Trading Lower, 9.2384
The Rand extended its decline against the US Dollar as poor GDP figures from the Eurozone (a major trading partner of South Africaâ€™s) reduced the currencyâ€™s appeal. If todayâ€™s GDP data for the 17-nation currency bloc as a whole also fails to meet expectations the Rand could experience further losses in the hours ahead.
As of Wednesday, 15th May 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1825, GBP USD exchange rate was 1.5226, GBP AUD exchange rate was 1.5399, GBP NZD exchange rate was 1.8476, GBP CAD exchange rate was 1.5477, GBP JPY exchange rate was 155.6881, and GBP ZAR exchange rate was 14.1064.