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Wed 2 Dec 2020 00:51GMT

Exchange Rate News: EUR Fluctuations Likely, NZD Rallies

Published: 21 Jan 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,

Pound Sterling
GBP/USD– Trading in the Region 1.6420
The Pound was little changed against the US Dollar this morning but was brushing a two-week high against the Euro on the expectation that today’s UK business optimism report will be positive.

US Dollar
USD/GBP – Trading in the Region of 0.6089
After trading in a narrow range against its major peers yesterday, ‘Greenback’ movement is also likely to be stilted today due to a lack of US news. That being said, developments in the Eurozone may trigger USD/EUR fluctuations.

Euro
EUR/USD – Trading in the Region of 1.3536
Although the Euro began European trading close to a two-week low against the Pound the common currency could enjoy a rebound in the hours ahead if measures of economic confidence for the Eurozone and Germany show the improvement expected.


Australian Dollar
AUD/USD – Trading in the Region of 0.8776
Overnight the ‘Aussie’ remained stronger against the Euro and was little changed against the US Dollar as investors look ahead to tomorrow’s Australian confidence report and inflation figures.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8301
The ‘Kiwi’ climbed overnight as domestic inflation data supported the case for the Reserve Bank of New Zealand being the first developed central bank to raise interest rates. The commodity-driven currency ended Australasian trading stronger against its US and Australasian counterparts.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9122
While Canadian wholesale sales and manufacturing shipment reports will be of interest today, investors will also be looking ahead to this week’s rate decision from the Bank of Canada. A dovish policy statement could drive the ‘Loonie’ lower.

Japanese Yen
USD/JPY – Trading in the Region of 104.6700
With the Bank of Japan gathering to discuss fiscal policy the Yen softened against the majority of its rivals. Speculation that the BOJ might expand an already unprecedented level of stimulus is likely to keep pressure on the Yen in the hours ahead.

South African Rand
USD/ZAR – Trading in the Region of 10.8355
Looming mining strikes might be causing unease among South African policy makers, but the Rand was fairly range-bound as the local session opened. As the Rand tracks the Euro today’s confidence reports for the Eurozone could be of interest.
As of Tuesday, 21st January 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2149, GBP USD exchange rate was 1.6475, GBP AUD exchange rate was 1.871, GBP NZD exchange rate was 1.9816, GBP CAD exchange rate was 1.8072, GBP JPY exchange rate was 171.712, and GBP ZAR exchange rate was 17.8512.
Laura Parsons About Author: (359 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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