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Tue 16 Apr 2024 05:38GMT

NZD Jumps After RBNZ, GBP Steady, AUD Softer

Published: 24 Apr at 1 PM 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,

Pound Sterling
GBP/USD – Trading in the Region of 1.6786
Although tomorrow’s UK retail sales report could be responsible for notable Pound fluctuations, Sterling was trading in a narrow range against its currency counterparts today. The asset was little-changed as the CBI reported sales data showed a stronger-than-expected increase.

US Dollar
USD/GBP – Trading in the Region of 0.5958
Ahead of the release of US initial jobless claims and durable goods figures the US Dollar was holding steady against the Pound and only modestly weaker against the Euro. The ‘Greenback’ was however enjoying a bullish relationship with a struggling ‘Aussie’.

EUR/USD – Trading in the Region of 1.3825
An unexpected increase in German business confidence helped the Euro consolidate gains against its peers. The Euro spent much of European trading in a stronger position against the US Dollar and Pound.

Australian Dollar
AUD/USD – Trading in the Region of 0.9273
This week’s disappointing Australian inflation data and less-than-impressive Chinese manufacturing report are keeping pressure on the ‘Aussie’. The South Pacific currency is preparing to post a five-day decline against several of its major rivals.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8562
The New Zealand Dollar closed the Australasian session in a stronger position against almost all of its most-traded currency counterparts. The ‘Kiwi’s widespread gains were triggered by the RBNZ’s decision to increase interest rates.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9077
The Canadian Dollar was little-changed against its major peers on Thursday. The commodity-driven currency failed to post notable gains yesterday following the release of lacklustre Canadian retail sales figures, and a lack of additional domestic data is likely to limit further movement before the weekend.

Japanese Yen
USD/JPY – Trading in the Region of 102.3400
The Yen was able to strengthen against the US Dollar for a second day as investors bet that tomorrow’s Japanese inflation data will reduce the odds of the Bank of Japan introducing additional stimulus.

South African Rand
USD/ZAR – Trading in the Region of 10.5586
As the local session got underway the Rand was a little weaker against the US Dollar. Domestic data then showed that producer price inflation climbed by more-than-expected in March and the Rand experienced modest fluctuations.
As of Thursday, 24th April 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2149, GBP USD exchange rate was 1.6804, GBP AUD exchange rate was 1.8133, GBP NZD exchange rate was 1.9629, GBP CAD exchange rate was 1.8529, GBP CNY exchange rate was 10.5008, GBP JPY exchange rate was 171.8433, and GBP ZAR exchange rate was 17.8545.
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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