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Send Money Abroad News ? GBP, USD, EUR, AUD, NZD, CAD, JPY & ZAR

Published: 25 Jul at 10 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,

Pound Sterling
GBP/EUR -Trading in the Region of 1.1621
Ahead of the release of the latest GDP data the Pound came close to a four-month high against the US Dollar as investors wait for the release of data which is expected to show that the UK economy expanded in the second quarter. Against the Euro, Sterling advanced for the first time in three days. UK gross domestic product predicted to expand by 0.6% for the second quarter of 2013 and by 1.4% on a year-by-year basis.

US Dollar
USD/EUR - Trading in the Region of 0.7565
The US Dollar was softer against most of its peers in early trading as investors wait for the release of a plethora of key data. The ‘Greenback’ is broadly higher as the currency continues to ride higher on the back of Wednesday’s upbeat US housing data. The latest Durable goods and jobless claims data is due for release this afternoon.

The Euro
EUR/USD - Trading in the Region of 1.3218
The Euro began the session making gains against the majority of its peers as the single currency continues to receive strength from yesterday’s surprisingly positive PMI data. Today sees the release of more data releases which economists are expecting will show that business confidence in Germany rose for a third consecutive month in July.

Australian Dollar
AUD/USD - Trading in the Region of 0.9148
The ‘Aussie’ tumbled to a four-and-a-half year low against the New Zealand Dollar after the smaller Oceanic nation’s Central Bank hinted at a need to remove stimulus causing a divergence of monetary policy between the two countries. As a result the ‘Aussie’ fell to its lowest level since 2008.

New Zealand Dollar
NZD/USD - Trading in the Region of 0.8005
The ‘Kiwi’ rose above a four-year high against its Australian counterpart due to a diverging interest rate outlook for the Oceanic neighbours. Reserve Bank governor Graeme Wheeler kept the key rate on hold at 2.5%, lower than Australia’s 2.75%.

Canadian Dollar
CAD/USD - Trading in the Region of 0.9699
The ‘Loonie’ finished weaker against the US Dollar at yesterday’s close before recovering some ground today. The Canadian currency has continued to benefit from Tuesday’s surprisingly robust retail-sales report for May. It then softened due to a broad tide of US Dollar buying.

Japanese Yen
USD/JPY –Trading in the Region of 99.9877
The Yen climbed against 15 of its most traded peers and rose above the 100 per Dollar mark for a 12th straight session. The rise came as a decline in Asian equities boosted demand for the safe-haven Yen. Against the Euro it was trading at a two-month low.

South African Rand
ZAR/USD – Trading in the Region of 0.1024
The Rand weakened against its peers as wage negotiations between South African gold miners and workers appeared to have stalled after unions declared an official wage dispute. Wednesday's declaration by the unions means that two-week-old salary talks, labelled as the toughest since the end of apartheid in 1994, will now be held up by a 30-day process of mediation that could end in an industry-wide strike.

As of Thursday, 25th July 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1589, GBP USD exchange rate was 1.5392, GBP AUD exchange rate was 1.6652, GBP NZD exchange rate was 1.9081, GBP CAD exchange rate was 1.5825, GBP JPY exchange rate was 152.7088, and GBP ZAR exchange rate was 14.9624.
Dominic Lee About Author: (474 Posts)With over ten years experience as an economist – including four years spent as a chief economist with a major currency broker – Dominic has acquired a wealth of knowledge which he uses to forecast market movements. Dominic now works as an independent business advisor and writes for several financial publications.

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