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Bernanke speech impacts currency's

Published: 23 May at 11 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,

Daily Exchange Rate Round Up:Bernanke speech impacts currency's

Pound Sterling

GBP/USD- 1.5062

The Pound has fallen to a ten-week low against the US Dollar as economists await the release of data that is expected to show that the UK economy expanded in the first quarter of the year. Against the Euro, Sterling was close to a one-month low.

US Dollar

USD/EUR - 0.7771

The ‘Greenback’ advanced against most of its most traded peers after Federal Reserve Chairman Ben Bernanke said that the Central Bank could soften its monthly bond buying programme over the next few months if it is confident of sustained gains in the US economy.

The Euro

EUR/USD- 1.2867

The Euro strengthened against the US Dollar after the latest German Purchasing Managers Index reported better-than-expected manufacturing activity in the Eurozone’s biggest economy.

Australian Dollar

AUD/USD- 0.9631

The ‘Aussie’ continued its month-long decline after the comments made by Federal Reserve Chairman Ben Bernanke. The currency was also weakened by weaker-than-expected manufacturing data out of China. As a result the ‘Aussie’ fell to an eleven-month low against the US Dollar.

New Zealand Dollar

NZD/USD- 0.8030

The ‘Kiwi’ fell to an eight-month low after data out of China showed that the world’s second largest economy saw its manufacturing output shrink in May. HSBC's purchasing managers' index showed a preliminary reading of 49.6 in May, where a reading below 50 indicates contraction, adding to signs China's economy is slowing.

Canadian Dollar

CAD/USD- Trading Lower 0.9640

The ‘Loonie’ fell to its lowest level in a year against its US relation after Federal Reserve Chairman Ben Bernanke said that the Central Banks monthly bond purchases may be reduced if the economy shows sustained growth.

Japanese Yen

USD/JPY- Trading Higher 101.8147

The Yen climbed to a five-week high against the Euro as China posted weaker-than-expected manufacturing data. Investors sought shelter in the safe haven Yen on concerns that the world’s second largest economy is slowing down. The Yen climbed by at least 1% against its most traded peers.

South African Rand

USD/ZAR- Trading Higher 9.6589

The Rand fell below a four-year low after the US Dollar strengthened on the back of comments made by Federal Reserve Chairman Ben Bernanke. The currency is now hovering around its lowest level since March 2009.
As of Thursday, 23rd May 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1682, GBP USD exchange rate was 1.5107, GBP AUD exchange rate was 1.5535, GBP NZD exchange rate was 1.8618, GBP CAD exchange rate was 1.5567, GBP CNY exchange rate was 9.2669, GBP JPY exchange rate was 154.1506, and GBP ZAR exchange rate was 14.4125.
Patrick James About Author: (289 Posts)Patrick completed his economics degree just as the global financial crisis struck in 2008. In the intervening years Patrick has made his mark, climbing to a prominent position within a large financial services provider. As part of his role Patrick uses his expertise to advise companies of the best ways to safeguard against currency risk.

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