Published: 20 Oct 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,
Pound Sterling (GBP)
The Pound began the week trading in a slightly stronger position against the Euro and US Dollar. Although Sterling came under pressure last week thanks to some dovish comments from the Bank of Englandâ€™s chief economist, the British currency found support ahead of the publication of minutes from the latest BoE policy meeting. Rightmoveâ€™s House Price report had little impact on the Pound. The data showed that house prices climbed by 2.6% on the month in October, following a smaller price gain of 0.9% in September.
US Dollar (USD)
Fridayâ€™s unexpectedly strong US Consumer Confidence report helped the US Dollar rally against several of its most-traded currency counterparts before the weekend. On Monday the â€˜Greenbackâ€™ eased lower against the Pound but held its own against the Euro. With US data lacking today, further US Dollar movement may be minimal.
The Euro softened against the Pound on Monday as Germany
â€™s Producer Price Index registered the -1.0% year-on-year decline forecast for September. Producer prices were static on the month, as anticipated. With European officials gathering today, the Euro could experience further movement in the hours ahead.
Australian Dollar (AUD)
After a Chinese official asserted that the Peopleâ€™s Bank of China
intends to bolster some lenders with funds, the Australian Dollar strengthened against several of its major rivals. The â€˜Aussieâ€™ was little affected by comments issued by the Reserve Bank of Australia
â€™s Assistant Governor regarding the need for Australian citizens to work beyond retirement age.
Canadian Dollar (CAD)
On Friday Canada
â€™s Consumer Price Index came in at forecast levels. The Canadian Dollar consequently eased away from a five-year low against the US Dollar and strengthened modestly against several of its other currency counterparts. Todayâ€™s Canadian Wholesale Sales report could have a modest impact on the â€˜Loonieâ€™ in the hours ahead.
The New Zealand Dollar tracked its Australian peer slightly higher on the back of policy news from China. However, the news that New Zealandâ€™s ANZ Consumer Confidence gauge dropped by -3.4% in October, month-on-month, saw the GBP/NZD pairing advance.
As of Monday, 20th October 2014, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.263, GBP USD exchange rate was 1.6159, GBP AUD exchange rate was 1.8386, GBP NZD exchange rate was 2.0257, GBP CAD exchange rate was 1.8241, and GBP CNY exchange rate was 9.8952.