Published: 22 Nov 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,
GBP/USDâ€“ Trading in the Region of 1.6207
The GBP/USD pairing is ending the week on a high having jumped yesterday in response to strong UK factory order and trade balance data. With a Bank of England official asserting that the UK would need to keep interest rates at record lows for the next few years the Pound is likely to remain supported as we head into the weekend.
USD/EUR â€“ Trading in the Region of 0.7410
During North American trading, a larger-than-forecast decline in the Philadelphia Business Outlook saw the â€˜Buckâ€™ trim gains recorded earlier as a result of encouraging US initial jobless claims data. Movement in the safe-haven currency might be a little restrained today due to a lack of significant US Data.
EUR/USD â€“ Trading in the Region of 1.3494
As German growth data confirmed that domestic demand is continuing to support the Eurozoneâ€™s largest economy, the Euro edged higher against the US Dollar and Pound. The common currency was also boosted by the news that measures of the business outlook in Germany
increased by more than anticipated.
AUD/USD â€“ Trading in the Region of 0.9193
Yesterday Glenn Stevens, Governor of the Australian central bank, intimated that the RBA would be willing to intervene in the currency market if it proved necessary. As a result the â€˜Aussieâ€™ recorded widespread declines before the close of Australasian trading.
NZD/USD â€“ Trading in the Region of 0.8208
In spite of the Assistant Governor of the Reserve Bank of New Zealand attempting to weaken the â€˜Kiwiâ€™ by stressing that it is currently overvalued, the commodity-driven currency actually ended the local session stronger against several of its peers, positing a notable 0.5 per cent gain on the US Dollar.
CAD/USD â€“ Trading in the Region of 0.9479
Concerns that todayâ€™s domestic inflation rate report might give the Bank of Canada
additional cause to refrain from increasing interest rates wore on the â€˜Loonieâ€™ overnight. The Canadian Dollar slumped to over a month low yesterday and could fall further if the CPI meets expectations.
USD/JPY â€“ Trading in the Region of 101.0300
After weakening beyond 101 Yen per Dollar yesterday the Yen consolidated declines as Bank of Japan Governor Haruhiko Kuroda vowed to do all he can to limit a rise in long-term yields.
South African Rand
USD/ZAR â€“ Trading in the Region of 10.1331
The Reserve Bank of South Africa
â€™s decision to leave policy unaltered allowed the Rand to firm against its peers yesterday. Although the currency did soften slightly against its US counterpart following the release of surprisingly upbeat US initial jobless claims data, comments from Gill Marcus (Governor of the Reserve Bank) regarding a rate increase supported the Rand.
As of Friday, 22nd November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.197, GBP USD exchange rate was 1.6226, GBP AUD exchange rate was 1.7684, GBP NZD exchange rate was 1.9802, GBP CAD exchange rate was 1.7059, GBP JPY exchange rate was 164.3217, and GBP ZAR exchange rate was 16.3385.