Published: 22 Apr at 9 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Greece,
With the UK adding considerably more jobs than forecast in the three months through February and the level of joblessness falling to a fresh low, the Pound was able to advance on a number of its rivals. Although UK election concerns continue to dampen demand for Sterling, the British currency was able to advance above 1.50 against the â€˜Greenbackâ€™ during the European session.
The Euro clawed back losses on Friday as the Greek Finance Minister conceded that the Hellenic nation is prepared to compromise on its reforms in order to receive the financial aid it so desperately needs. As the comments were seen to reduce the odds of a â€˜Grexitâ€™, the common currency was able to benefit.
A week of sub-par US reports have taken a serious toll on US Dollar. The appeal of the â€˜Greenbackâ€™ was reduced as investors pared back Federal Reserve interest rate hike expectations, and should todayâ€™s US inflation report also fall short, we could see the US Dollar fall further.
This weekâ€™s solid Australian employment report bolstered the â€˜Aussieâ€™ and the South Pacific asset consolidated gains thanks to the below-forecast US ecostats. The AUD/USD pairing was able to push back above the 0.78 cents level during the European session.
The strength of the â€˜Aussieâ€™ and the weakness of the â€˜Greenbackâ€™ pushed the commodity-driven â€˜Kiwiâ€™ higher against a number of its most-traded currency counterparts as the week drew to a close. New Zealandâ€™s inflation data is likely to spark â€˜Kiwiâ€™ movement next week.
Ahead of the release of Canadian inflation figures, the â€˜Loonieâ€™ was trending in a softer position thanks to a reversal in oil prices. The Canadian Dollar had previously gained as oil prices achieved their strongest level in 2015. Should todayâ€™s Consumer Price Index show a deceleration in inflation, the increased odds of a rate cut from the Bank of Canada
would weigh on â€˜Loonieâ€™ trading.
As of Wednesday, 22nd April 2015, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.4025, GBP USD exchange rate was 1.5035, GBP AUD exchange rate was 1.941, GBP NZD exchange rate was 1.9673, and GBP CAD exchange rate was 1.8409.