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Fri 27 May 2022 07:56GMT

Exchange Rate News: JPY Higher, EUR Supported, AUD Lower

Published: 25 Feb at 11 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, Turkey,

Pound Sterling
GBP/USD – Trading in the Region of 1.6681
Before the publication of UK mortgage approvals figures the Pound was clinging to yesterday’s gains against the US Dollar but was little changed against the Euro. Sterling movement may be slightly restrained ahead of tomorrow’s British growth report.

US Dollar
USD/GBP – Trading in the Region of 0.5994
Yesterday the ‘Greenback’ experienced only modest movement as measures of activity for Chicago and Dallas fell short of expected levels. The US Dollar could weaken later today if the US consumer confidence report shows the decline expected.

EUR/USD – Trading in the Region of 1.3750
After broadly softening yesterday amid speculation regarding the introduction of additional ECB stimulus, the Euro recovered ground this morning as a report confirmed German economic growth of 0.4 per cent in the fourth quarter.

Australian Dollar
AUD/USD – Trading in the Region of 0.9012
Following a comparatively quiet local trading session, the ‘Aussie’ continued trading lower against several of its peers. Struggling commodity prices have piled pressure on the South Pacific asset and it could edge lower if tomorrow’s domestic construction report disappoints.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8321
Ahead of the release of New Zealand’s trade balance figures the ‘Kiwi’ was holding steady against its major currency counterparts. The New Zealand Dollar edged higher against the ‘Aussie’ but failed to recoup losses against the Pound.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9033
Yesterday one industry expert intimated that the Bank of Canada should be doing more to drive the ‘Loonie’ weaker, while others voiced concerns that the floundering currency will prevent millions of Canadians from holidaying in the US. With Canadian economic data thin on the ground today, US developments are likely to be the main cause of Canadian Dollar movement.

Japanese Yen
USD/JPY – Trading in the Region of 102.3200
The weakening Yuan pushed investors toward safe-haven assets overnight and the Yen consequently advanced on the US Dollar. The Yen was able to post its most impressive advance on the ‘Greenback’ for over a week.

South African Rand
USD/ZAR – Trading in the Region of 10.9305
The Rand softened against its lower-risk peers and edged away from a seven-week high against the US Dollar as calls for the resignation of Turkey’s Prime Minister left investors wary of emerging market assets. However, with South African growth data exceeding expectations the Rand may swiftly recoup losses.
As of Tuesday, 25th February 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2131, GBP USD exchange rate was 1.6674, GBP AUD exchange rate was 1.8508, GBP NZD exchange rate was 2.0022, GBP CAD exchange rate was 1.8485, GBP JPY exchange rate was 170.3452, and GBP ZAR exchange rate was 17.9054.
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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