Published: 21 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 – Trading in the Region of 1.1988
Sterling rallied against its peers yesterday as minutes from the Bank of England’s latest policy meeting emphasised that the UK’s economic recovery is gathering momentum. The British asset continued to trade in the region of a 10-month high against the Euro before UK trade data was published.
USD/EUR – Trading in the Region of 0.7449
With the prospect of the Federal Reserve tapering stimulus in the near future seeming more likely in the wake of yesterday’s surprisingly strong US retail sales report the ‘Greenback’ enjoyed a bullish relationship with several of its peers overnight. The US Dollar was also supported by minutes from the Federal Open Market Committee meeting which implied that data would continue to show improvement in the weeks ahead.
EUR/USD – Trading in the Region of 1.3452
German services and manufacturing PMI may have surprised to the upside this morning, but separate reports confirmed that Eurozone growth slowed in November and the Euro softened as a result. The common currency is liable to experience additional volatility after Mario Draghi, President of the European Central Bank, delivers a speech later today.
AUD/USD – Trading in the Region of 0.9297
Overnight the ‘Aussie’ slumped against the majority of its currency peers as less-than-impressive Chinese manufacturing data and declining Asian stocks wore on the commodity-driven asset. The Australian Dollar was also adversely affected by the increasing odds of the Federal Reserve tapering stimulus in the spring.
NZD/USD – Trading in the Region of 0.8242
A variety of factors took a toll on the New Zealand Dollar last night and the South Pacific asset closed the local session weaker against its peers. A report revealing a slowing in manufacturing growth in China
inspired ‘Kiwi’ losses, as did separate data showing a 0.8 per cent decline in New Zealand’s credit card spending.
CAD/USD – Trading in the Region of 0.9562
During North American trading the ‘Loonie’ was able to recover recent losses against its US counterpart as the Governor of the Bank of Canada
asserted that the Canadian economy still needed the support of fiscal stimulus. But the Canadian Dollar’s advance against the ‘Buck’ was trimmed as FOMC policy minutes hinted at easing being tapered.
USD/JPY – Trading in the Region of 100.7200
While declining Asian stocks helped the safe-haven Yen strengthen against several of its most traded rivals, the currency dipped against a bullish US Dollar. The Yen plummeted to a four-month low against the ‘Greenback’ as the different stances adopted by the Bank of Japan and Federal Reserve became more apparent.
South African Rand
USD/ZAR – Trading in the Region of 10.1100
Blackout concerns and falling bonds saw the Rand soften against a broadly stronger US Dollar before the local session began. The South African asset was also feeling the pressure ahead of the release of the Reserve Bank’s interest rate decision.
As of Thursday, 21st November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.2011, GBP USD exchange rate was 1.6179, GBP AUD exchange rate was 1.7536, GBP NZD exchange rate was 1.9673, GBP CAD exchange rate was 1.702, GBP CNY exchange rate was 9.8576, GBP JPY exchange rate was 163.9424, and GBP ZAR exchange rate was 16.4063.