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Mon 1 Jun 2020 09:32GMT

USD Stronger, GBP Softer, AUD Recovers Before Weekend

Published: 21 Mar at 12 PM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Japan, Russia, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6511
As local trading progressed on Friday the Pound stumbled as a report revealed that the UK’s budget deficit unexpectedly increased last month. Further Sterling movement may be minimal before the weekend.

US Dollar
USD/GBP – Trading in the Region of 0.6058
The FOMC decision, upbeat US data and Russian concerns all drove the US Dollar higher overnight. The ‘Greenback’ is currently enjoying a bullish relationship with the Canadian Dollar, Pound and Euro.

Euro
EUR/USD – Trading in the Region of 1.3793
While the Euro began the European session broadly softer, the common currency eked out some gains as the Eurozone’s current account surplus grew.

Australian Dollar
AUD/USD – Trading in the Region of 0.9085
‘Aussie’ strength returned overnight and the commodity-driven currency put in an impressive performance against its UK, US and Eurozone counterparts even as Australia’s conference board leading index slipped from 0.9 per cent to 0.2 per cent.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8558
As the Australasian session closed the ‘Kiwi’ was in a stronger position against the Pound and US Dollar. As well as being boosted by positive US news the New Zealand Dollar was supported by domestic data.

Canadian Dollar
CAD/USD – Trading in the Region of 0.8909
The Canadian Dollar was testing fresh lows against the ‘Greenback’ on Thursday and was locked in a bearish relationship with several of its main peers. Today’s Canadian inflation data can be expected to cause ‘Loonie’ volatility.

Japanese Yen
USD/JPY – Trading in the Region of 102.2800
With the US stepping up its sanctions against Russia and the European Union following suit, investors turned to safe-haven assets like the Yen. The Japanese asset consequently advanced on the majority of its rivals on Friday.

South African Rand
USD/ZAR – Trading in the Region of 10.8859
As the weekend approached the Rand was close to a three-week low against a broadly stronger US dollar. A lack of significant economic news for South Africa is likely to limit additional Rand movement today.
As of Friday, 21st March 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1951, GBP USD exchange rate was 1.6486, GBP AUD exchange rate was 1.8149, GBP NZD exchange rate was 1.9315, GBP CAD exchange rate was 1.8498, GBP JPY exchange rate was 168.6194, GBP RUB exchange rate was 59.7378, and GBP ZAR exchange rate was 17.9378.
Laura Parsons About Author: (357 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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