Published: 20 May at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Germany, Japan, South Africa,
GBP/USD – Trading Higher, 1.5206
An industry report revealing a 2.1 per cent increase in UK house prices in May allowed the Pound to strengthen modestly against the US Dollar, edging away from a six-week low. The news did little to effect the GBP/EUR pairing, and further movement is likely to be limited due to a lack of pertinent economic news.
USD/JPY – Trading Lower, 102.6300
Speculation that recent pieces of positive US news will encourage the Federal Reserve to step down its easing measures continues to support the US Dollar, although the ‘Greenback’ did lose ground against a broadly strengthening Yen. The Yen advanced on the majority of its peers after Japan’s Economy Minister warned that continued deterioration of the Yen could pose a threat to the Japanese populace.
EUR/USD – Little Changed 1.2863
The Euro continues to trade in the region of a six-week low against the US Dollar as the week begins. Key data to watch out for this week includes Thursday’s services and manufacturing PMI for the Eurozone and Germany
and Friday’s German consumer confidence survey.
AUD/USD – Trading Higher, 0.9731
After falling close to a year-low against its US counterpart the Australian Dollar was able to claw back losses as a technical indicator signalled that the currency may be oversold. With the Reserve Bank of Australia
’s policy minutes due for release at 02:30 GMT the Australian Dollar is likely to experience significant movement during local trade.
NZD/USD – Trading Higher, 0.8119
The ‘Kiwi’ rebounded against all of its peers during local trade, climbing to 81.23 cents against the US Dollar, as New Zealand’s Finance Minister stated that gains in home prices could force the nation’s central bank to raise interest rates. Tomorrow’s RBNZ 2-year inflation expectations report will be a cause of fluctuations in the New Zealand Dollar.
CAD/USD – Trading Lower, 0.9727
On Friday the Canadian Dollar plummeted against the majority of its most traded peers as a report showed that Canada
’s inflation rate had dropped to the lowest level recorded since 2009. With the likelihood of the Canadian central bank issuing a rate hike massively lowered the ‘Loonie’ could fall further if domestic data, such as Wednesday’s retail sales figures, continues to point to Canadian economic weakness.
JPY/USD – Trading Higher 102.6300
The Yen advanced on most of its rivals after Akira Amari, Japan’s Finance Minister, stated that the Asian currency’s past strength had largely been corrected. The comment ‘it’s being said excessive Yen gains have been corrected a lot’ allowed the Yen to climb away from an over four-year low against the US Dollar.
ZAR/USD – Trading Lower, 9.3987
The Rand plummeted to a four-year low against the US Dollar on Friday as ongoing concerns regarding South Africa’s tumultuous mining sector continued to wear on the currency. It has since recouped some of its losses, but could weaken considerably on any signs of violence.
As of Monday, 20th May 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1841, GBP USD exchange rate was 1.5271, GBP AUD exchange rate was 1.5553, GBP NZD exchange rate was 1.8667, GBP CAD exchange rate was 1.5638, GBP JPY exchange rate was 155.9548, and GBP ZAR exchange rate was 14.4153.