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FX NEWS: Pound Fluctuates after CPI, Aussie Higher after RBA Minutes

Published: 17 Feb at 11 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Germany, Greece,

Pound Sterling
A decrease in the UK’s non-core inflation figure but a rise in core-CPI caused Sterling volatility on Tuesday. The Pound advanced against the US Dollar but held previous declines against the Euro. Tomorrow’s UK employment report is likely to prompt considerable Pound movement.

US Dollar
After a fairly static start to the week, the US Dollar could experience fluctuations in the hours ahead as the US releases its Empire Manufacturing Index and NAHB Housing Market Index. That being said, many investors will be waiting for the far more influential minutes from the latest FOMC policy meeting.

The Common Currency managed to gain on the Pound as Germany’s measures of Economic Sentiment and the Current Situation showed improvement. The Euro rallied even as the Greek debt negotiations hit another bump in the road.

Australian Dollar
The Australian Dollar was able to stage a rebound against the majority of its rivals during the local session in response to the Reserve Bank of Australia’s policy meeting minutes. Although the minutes highlighted some major causes of concern in the Australian economy, they also implied that a further rate cut isn’t on the horizon – a fact which lent the ‘Aussie’ support.

New Zealand Dollar
New Zealand’s impressive retail sales and performance of services reports continued to lend the ‘Kiwi’ support on Tuesday. However, the New Zealand Dollar did move away from a record-high against its Australian counterpart following the release of the RBA’s minutes.

Canadian Dollar
Prior to the publication of Canadian existing home sales data, the ‘Loonie’ was trading in a broadly stronger position. The Canadian Dollar was deriving support from the recent uptick in oil prices and was trending 0.7% higher against the US Dollar.
As of Tuesday, 17th February 2015, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.3463, GBP USD exchange rate was 1.5353, GBP AUD exchange rate was 1.9656, GBP NZD exchange rate was 2.0363, and GBP CAD exchange rate was 1.9024.
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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