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Thu 9 Dec 2021 14:27GMT

Exchange Rate News: GBP/USD Climbs, AUD/USD Falls, CAD/USD Volatile

Published: 24 Jan at 11 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Japan, South Africa,

Pound Sterling
GBP/USD– Trading in the Region 1.6622
Although UK home loans figures fell short of estimates, BoE Governor Mark Carney’s inability to quell rate-increase speculation let the Pound advance to an over 2 and a half year high against the US Dollar. Sterling was also holding its own against the Euro.

US Dollar
USD/GBP – Trading in the Region of 0.6008
Following the release of patchy economic data for the US the ‘Greenback’ lost ground against the Yen but advanced on emerging market assets as investors bet on the likelihood of the Fed tapering stimulus.

EUR/USD – Trading in the Region of 1.3673
The Euro is currently in line to post five-day gains against several of its currency rivals thanks to yesterday’s impressive manufacturing and services reports for the Eurozone and its largest economies.

Australian Dollar
AUD/USD – Trading in the Region of 0.8685
After an official from the Reserve Bank of Australia intimated that the ‘Aussie’ needs to fall to around 80 cents, the Australian Dollar extended recent declines against the majority of its currency peers.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8261
As a report showed that card spending in New Zealand declined and Chinese economic concerns grew the ‘Kiwi’ held onto losses posted against its US and British counterparts. However, if the Reserve Bank of New Zealand hints at increasing interest rates when it meets next week the South Pacific currency could recover losses.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9009
Before the publication of influential Canadian inflation figures the ‘Loonie’ edged even lower against the US Dollar. If the report adds to the case for the Bank of Canada issuing a rate cut the ‘Loonie’ could have a bearish end to the week.

Japanese Yen
USD/JPY – Trading in the Region of 103.0200
Overnight the Yen advanced on its US rival, strengthening to 103.02 in spite of Fed easing expectations.

South African Rand
USD/ZAR – Trading in the Region of 11.0260
As the dreaded local mining strikes began and speculation surrounding Fed tapering increased the Rand weakened beyond 11 per Dollar. The South African asset was also weaker against several of its other main rivals before the weekend.
As of Friday, 24th January 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2049, GBP USD exchange rate was 1.6481, GBP AUD exchange rate was 1.8981, GBP NZD exchange rate was 2.0055, GBP CAD exchange rate was 1.8269, GBP CNY exchange rate was 9.9691, GBP JPY exchange rate was 168.5644, and GBP ZAR exchange rate was 18.2511.
Laura Parsons About Author: (360 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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