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Exchange Rate News: Tight Trading Sees Euro Little Changed

Published: 24 Dec 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,

Pound Sterling
GBP/USD– Trading in the Region 1.6329
Although the Pound began the European session just shy of a two-year low against the US Dollar, the British currency could advance in the hours ahead as a result of better than forecast UK mortgage approvals figures.

US Dollar
USD/GBP – Trading in the Region of 0.6124
After dipping against peers like the Yen during North American trading as a result of a disappointing University of Michigan index, the US Dollar recovered losses and approaches the Christmas break in a strong position against its major rivals.

EUR/USD – Trading in the Region of 1.3677
After experiencing minimal fluctuations in response to yesterday’s German import price index the Euro was holding steady as European trading got underway. The common currency did edge lower against the Pound however as the British asset was supported by positive domestic data.

Australian Dollar
AUD/USD – Trading in the Region of 0.8916
The Australian Dollar ended the South Pacific session close to a three-year low against the US Dollar and trading in a tight range against the rest of its major rivals.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8207
An absence of economic data and the prospect of markets closing for the Christmas break left the ‘Kiwi’ barely altered against its major rivals during local trading. Although Friday’s Chinese industrial profits report could inspire modest movement, fluctuations will be limited in the days ahead.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9414
In the wake of some upbeat domestic growth data the ‘Loonie’ edged higher against peers like the ‘Greenback’. Although recent reports for Canada have been patchy and inflation is becoming a real concern, the report was a sign that the nation’s economy continues to expand in spite of outward pressures.

Japanese Yen
USD/JPY – Trading in the Region of 104.2300
While the Yen took a stand against the US Dollar yesterday the Asian asset gave up gains as the disparity between the BOJ and Federal Reserve’s approach to fiscal policy became more apparent.

South African Rand
USD/ZAR – Trading in the Region of 10.3040
Thin trading left the Rand little-changed against its major rivals. The commodity-driven asset is likely to experience notable movement next week as a result of South African trade balance/foreign exchange reserve figures.
As of Tuesday, 24th December 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1968, GBP USD exchange rate was 1.6371, GBP AUD exchange rate was 1.834, GBP NZD exchange rate was 1.9991, GBP CAD exchange rate was 1.7384, GBP CNY exchange rate was 9.9396, GBP JPY exchange rate was 170.6895, and GBP ZAR exchange rate was 16.9115.
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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