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US Speculation Sees Aussie (AUD) Rebound While Euro (EUR) Pound (GBP) And Yen (JPY) Climb

Published: 16 Jul 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, Greece, Ireland, Italy, Japan, South Africa, Portugal,

Pound Sterling
GBP/USD – Trading in the Region of 1.5089
With economists forecasting that today’s UK inflation data will show that consumer and producer prices accelerated in June, the Pound was little changed against the Euro as the local session got underway. However, the British currency was able to advance on a broadly softening US Dollar. The GBP/USD pairing could fluctuate further following the release of US inflation figures.

US Dollar
USD/EUR – Trading in the Region of 0.7642
The declining odds of the Federal Reserve opting to rein in stimulus saw the US Dollar broadly soften overnight. The safe-haven Greenback fell against rivals including the Pound and Euro ahead of Fed Chairman Ben Bernanke’s speech to congress, taking place tomorrow.

Euro (Currency of Germany, France, Spain, Italy, Portugal, Greece, Ireland etc)
EUR/USD – Trading in the Region of 1.3087
Hopes that today’s German investor confidence survey will show that sentiment improved in July bolstered the Euro as the European session began. The common currency was trading higher against the US Dollar, Pound and Yen but a surprising result could cause Euro fluctuations.

Australian Dollar
AUD/USD – Trading in the Region of 0.9185
During Australasian trading the ‘Aussie’ surged against the US Dollar and advanced on several of its other counterparts. The South Pacific currency was supported after the publication of minutes from the latest Reserve Bank of Australia policy meeting reduced the odds of the central bank issuing a rate cut in the months ahead.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.7840
While the ‘Kiwi’ was able to gain on a broadly softening US Dollar overnight, gains were limited by some disappointing domestic data. The New Zealand Dollar’s upward momentum was restrained by figures showing that local consumer price increases slowed by more than forecast in the second quarter.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9593
Declining crude oil prices and disappointing US retail sales data triggered ‘Loonie’ loses during the local session. Canada’s currency could experience movement as a result of today’s Canadian manufacturing shipments figures and US inflation data.

Japanese Yen
USD/JPY – Trading in the Region of 99.8000
The Yen strengthened modestly against a pressured US Dollar during local trading. With the release of minutes from the Bank of Japan’s latest policy meeting scheduled for tomorrow further Yen volatility is likely.

South African Rand
ZAR/USD – Trading in the Region of 9.8979
The falling odds of the Federal Reserve tapering stimulus boosted commodity-driven currencies overnight and South Africa’s currency was able to gain. Rand movement may be limited ahead of tomorrow’s domestic consumer confidence and retail sales data.
As of Tuesday, 16th July 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.151, GBP USD exchange rate was 1.5137, GBP AUD exchange rate was 1.6382, GBP NZD exchange rate was 1.9203, GBP CAD exchange rate was 1.5711, GBP JPY exchange rate was 150.1108, and GBP ZAR exchange rate was 14.921.
Laura Parsons About Author: (357 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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