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Exchange Rate News: GBP/USD And NZD/USD Climb

Published: 15 Nov at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Japan, South Africa,

Pound Sterling
GBP/EUR – Trading in the Region of 1.1954
A less-than-inspiring retail sales report for the UK might have worn on the Pound during the European session, but the belief that the Bank of England will need to increase interest rates earlier than projected kept Sterling trading stronger against the Euro.

US Dollar
USD/EUR – Trading in the Region of 0.7436
After fluctuating overnight in response to comments issued by future Federal Reserve Chairman Janet Yellen, the ‘Buck’ was able to claw back losses after Yellen acknowledged that quantitative easing would need to be tapered at some point. With US manufacturing data scheduled for publication this afternoon the US Dollar could fluctuate.

EUR/USD – Trading in the Region of 1.3451
Yesterday’s GDP reports for the Eurozone confirmed that the currency bloc’s return to growth is faltering as continuing headwinds prevent notable growth. Consequently the Euro edged lower against peers like the US Dollar and Euro. Today’s Eurozone inflation data could trigger further common currency movement.

Australian Dollar
AUD/USD – Trading in the Region of 0.9341
As recent global economic data is supporting the case for major central banks maintaining an accommodative fiscal policy for the foreseeable future, the ‘Aussie’ was able to trim its weekly decline against the ‘Greenback’ and rally against the Yen during Australasian trading.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8288
Overnight the appeal of higher-risk assets increased and the ‘Kiwi’ extended gains against rivals like the US Dollar. The NZD/USD pairing is now heading for a five-day gain of 0.4 per cent.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9558
Speculation that the ‘Loonie’s recent rally was excessive left the commodity-driven currency weaker against its peers as the North American session ended. Although today’s Canadian manufacturing/existing home sales reports could bolster the Canadian Dollar, CAD/USD movement is more likely to be driven by US data.

Japanese Yen
USD/JPY – Trading in the Region of 100.2700
With the prospect of continued quantitative easing reducing demand for safe-haven assets the Yen posted widespread declines overnight. The Japanese currency continues to trade above the psychological 100 Yen per Dollar mark.

South African Rand
USD/ZAR – Trading in the Region of 10.1600
After South Africa’s trade data was positively revised the Rand recovered losses and hit its strongest levels against the US Dollar for five-days. While the Rand later weakened slightly as Janet Yellen’s comments boosted the ‘Greenback’ it still ends the week stronger than it began.
As of Friday, 15th November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1946, GBP USD exchange rate was 1.6122, GBP AUD exchange rate was 1.7209, GBP NZD exchange rate was 1.9334, GBP CAD exchange rate was 1.6832, GBP JPY exchange rate was 161.5181, and GBP ZAR exchange rate was 16.3807.
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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