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US Dollar Eases Lower on Dovish FOMC, Pound Riding High

Published: 19 Feb at 12 PM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Greece,

Pound Sterling
Encouraging UK jobs data saw investors positively revise BoE interest rate hike expectations and the Pound jumped as a result. The British currency is holding on to gains ahead of the release of the UK’s retail sales figures on Friday.

US Dollar
The US Dollar recorded losses against peers like the Pound after the minutes from the most recent gathering of the Federal Open Market Committee indicated that the Fed could delay increasing interest rates if the global economic situation fails to pick up. Today’s US employment figures could see the ‘Greenback’ experience additional movement.

The common currency slid against its major rivals on Thursday as the Greek debt situation gathered momentum. European officials will be gathering today to decide whether the nation should be granted a six-month loan extension. The Eurozone’s Consumer Confidence report may also impact Euro trading.

Australian Dollar
Concerns that the deterioration of the global economic climate could see Standard & Poor’s strip Australia of its AAA credit rating put the ‘Aussie’ under pressure during the local session. The South Pacific currency gave up all of the gains recorded in the wake of the release of the FOMC’s meeting minutes.

New Zealand Dollar
A decline in the level of consumer confidence in New Zealand weighed on the ‘Kiwi’ during the local session and the New Zealand Dollar held declines against peers like the Pound and US Dollar on Thursday.

Canadian Dollar
Ahead of a speech to be given by the Bank of Canada’s deputy governor, the Canadian Dollar declined against several of its most-traded currency counterparts. Softer oil prices decreased demand for the commodity-driven asset.
As of Thursday, 19th February 2015, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.3566, GBP USD exchange rate was 1.5419, GBP AUD exchange rate was 1.9778, GBP NZD exchange rate was 2.0509, and GBP CAD exchange rate was 1.926.
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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