Published: 20 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,
GBP/EUR â€“ Trading in the Region of 1.1921
As European trading began the Pound was within touching distance of a three-week high against the â€˜Greenbackâ€™. Minutes from the latest Bank of England policy meeting will be instrumental in the GBP/USD pairingâ€™s movement today, but US retail sales data will also have a notable impact.
USD/EUR â€“ Trading in the Region of 0.7390
Ahead of the release of advance retail sales data for the US the â€˜Greenbackâ€™ was struggling against peers like the Pound and the Euro. The North American asset lost its appeal as Federal Reserve officials intimated that the tapering of bond-buying wouldnâ€™t occur for the foreseeable future.
EUR/USD â€“ Trading in the Region of 1.3532
After rallying against its rivals yesterday in response to stronger-than-anticipated economic sentiment data for Germany
, the Euro extended gains after a European Bank Official made a cautious statement regarding the use of negative interest rates. With the German producer price index showing an unexpected decline of 0.2 per cent the Euro fluctuated modestly. Additional volatility in the common currency could occur in response to the Bank of England minutes and US retail sales figures.
AUD/USD â€“ Trading in the Region of 0.9387
â€™s trade prospects were brightened by the Peopleâ€™s Bank of China
and comments regarding lifting restrictions on the Yuan, the Australian Dollar advanced. But as Asian stocks declined and lessened the appeal of higher-risk assets the â€˜Aussieâ€™ shed gains before the close of the local session.
NZD/USD â€“ Trading in the Region of 0.8328
With South Pacific data a little limited last night, â€˜Kiwiâ€™ movement was restrained. The commodity-dependent asset did slip against its safe-haven US counterpart as Asian stocks stumbled, but losses were limited as the declining odds of the Federal Reserve tapering stimulus weighed on the â€˜Greenbackâ€™.
CAD/USD â€“ Trading in the Region of 0.9555
After crude oil fell to a five-month low the Canadian Dollar tumbled against the majority of its most traded peers. The commodity-driven currency could fluctuate today following the release of Canadian wholesale sales data, although a speech scheduled to be delivered later today by Bank of Canada
Governor Stephen Poloz is likely to have a more significant impact.
USD/JPY â€“ Trading in the Region of 100.1200
The prospect of the Federal Reserveâ€™s bond buying continuing at its current pace for the foreseeable future piled pressure on the US Dollar overnight, and the Yen was able to extend gains against its US peer as dipping Asian stocks boosted demand for the safe-haven asset.
South African Rand
USD/ZAR â€“ Trading in the Region of 10.1799
While the Rand has rallied against a broadly softening US Dollar in recent days, a looming local power cut saw the South African asset soften as the local session began. South African inflation data also provoked movement in the commodity-driven currency.
As of Wednesday, 20th November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1985, GBP USD exchange rate was 1.6099, GBP AUD exchange rate was 1.7258, GBP NZD exchange rate was 1.947, GBP CAD exchange rate was 1.6834, GBP CNY exchange rate was 9.8085, GBP JPY exchange rate was 161.3452, and GBP ZAR exchange rate was 16.3511.