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Exchange Rate News: Euro (EUR) Could Climb, Pound (GBP) Close To 3-Week High

Published: 19 Nov at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Germany, Japan, South Africa,

Pound Sterling
GBP/EUR – Trading in the Region of 1.1919
Prior to the publication of minutes from the lasted Bank of England Policy meeting, the Pound was holding fairly steady against the Euro and was edging towards a three-week high against the US Dollar. In the absence of UK economic news, GBP/EUR volatility is likely to be inspired by the Eurozone’s sentiment surveys.

US Dollar
USD/EUR – Trading in the Region of 0.7401
With US news thin on the ground today and investors betting that the Federal Reserve will refrain from tapering stimulus until at least next spring, the ‘Buck’ ended North American trading slightly softer against the majority of its most traded rivals.

EUR/USD – Trading in the Region of 1.3515
The prospect of encouraging economic sentiment surveys for Germany and the Eurozone lifted the Euro as the European session began. The common currency started the day a little higher against its British and US peers.

Australian Dollar
AUD/USD – Trading in the Region of 0.9420
While yesterday’s announcement regarding China’s economic reforms continued to lend the Australian Dollar support overnight, the currency dipped against the Yen as Asian stocks fell for the first time in several days. The ‘Aussie’ fluctuated modestly after Reserve Bank of Australia meeting minutes were released and showed that policy makers haven’t ruled out further rate adjustments.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8344
Although the New Zealand Dollar softened slightly as Asian stocks declined and a domestic inflation expectation report lowered the odds of the local Reserve Bank increasing interest rates in the near future, the South Pacific currency approached a five-year high against the ‘Aussie’ and held on to gains against the Pound.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9590
During North American trading the ‘Loonie’ hit a one-week high against the US Dollar as the economic reforms planned in China boosted the appeal of commodity-dependent assets. An absence of Canadian data could limit ‘Loonie’ movement today.

Japanese Yen
USD/JPY – Trading in the Region of 99.7400
As Asian stocks snapped a recent run of gains and the odds of the Federal Reserve tapering stimulus before the end of the year dipped, the Yen broadly strengthened. The safe-haven asset advanced on the commodity-driven Australian and New Zealand Dollars during local trade and rallied against its US counterpart.

South African Rand
USD/ZAR – Trading in the Region of 10.0985
After strengthening for a fourth day against the US Dollar the Rand largely retained gains overnight and was holding steady against its North American rival. Additional Rand movement may be limited ahead of tomorrow’s South African inflation data.
As of Tuesday, 19th November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1896, GBP USD exchange rate was 1.6136, GBP AUD exchange rate was 1.7091, GBP NZD exchange rate was 1.9266, GBP CAD exchange rate was 1.6871, GBP CNY exchange rate was 9.8316, GBP JPY exchange rate was 161.6419, and GBP ZAR exchange rate was 16.4128.
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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