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Wed 2 Dec 2020 00:09GMT

Exchange Rate News Today: GBP Strengthens, EUR Advances and US Dollar Holding Steady

Published: 19 Jan at 2 PM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Germany, Switzerland,

Pound Sterling (GBP) Exchange Rate Strengthens on Domestic Data
After British house prices rose in January, the Pound strengthened versus the majority of its most traded currency rivals. The appreciation has been somewhat laboured, however, with the general election fast-approaching.

Euro (EUR) Exchange Rate Advances on Pared QE Bets
With traders having priced-in a considerable quantitative easing programme from the European Central Bank, speculation that the German opposition will result in a diluted opening figure caused the shared currency to strengthen against nearly all of its major peers.

US Dollar (USD) Exchange Rate Holding Steady on Lack of Data
The North-American economic docket is particularly sparse on Monday with a complete absence of domestic data to provoke movement. The US Dollar is generally holding steady against the majority of its most traded competitors.

Australian Dollar (AUD) Exchange Rate Ticks Lower on Iron Ore
After iron ore prices declined thanks to poor housing data out of China, the Australian Dollar softened versus nearly all of its major peers. Positive vehicle sales data had little impact on the ‘Aussie’ (AUD).

New Zealand Dollar (NZD) Exchange Rate Softens on Dampened Market Sentiment
In the aftermath of the Swiss National Bank’s decision to remove their Euro cap, trader sentiment dampened considerably. With risk-aversion dominating trade, the high-yielding ‘Kiwi’ (NZD) softened amid a lack of demand.

Canadian Dollar (CAD) Exchange Rate Ticks Higher on Oil Prices
Having endured a sustained bearish run, oil prices showed their first weekly gain in two months. This supported the ‘Loonie’ (CAD), which strengthened against nearly all of its rivals despite a declination in International Securities Transactions.
As of Monday, 19th January 2015, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.3013, GBP USD exchange rate was 1.5089, GBP AUD exchange rate was 1.8415, GBP NZD exchange rate was 1.9446, GBP CAD exchange rate was 1.804, GBP CNY exchange rate was 9.3845, and GBP CHF exchange rate was 1.3277.
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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