Published: 25 Sep 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,
GBP/EUR â€“ Trading in the Region of 1.1859
With Bank of England officials asserting that the UK economy is still in the early stages of recovery, Sterling lost ground against peers like the US Dollar and Euro. The British asset could experience slight fluctuations today in response to CBI reported sales figures, but investors will largely be looking ahead to this weekâ€™s UK GDP report.
USD/EUR â€“ Trading in the Region of 0.7419
Concerns that clashes over the US budget could lead to a shutdown of Federal Government saw investors turn to safe-haven assets, and the â€˜Greenbackâ€™ advanced on the majority of its peers as a result. The US Dollar was also boosted ahead of the release of a report which economists expect will show a rebound in US new home sales.
EUR/USD â€“ Trading in the Region of 1.3481
Despite references to the necessity of accommodative policy from ECB officials weighing on the Euro this week, the common currency was able to strengthen slightly as a report published this morning showed a better-than-forecast improvement in German consumer confidence.
AUD/USD â€“ Trading in the Region of 0.9354
As the Australasian session closed the â€˜Aussieâ€™ retained fresh declines against the majority of its currency rivals. Whilst US budget fears contributed to the Australian Dollarâ€™s dip, movement was largely inspired by comments issued by the Reserve Bank of Australia
regarding the economic benefits of a weaker currency.
NZD/USD â€“ Trading in the Region of 0.8235
An unexpected widening in New Zealandâ€™s trade deficit led to the â€˜Kiwiâ€™ softening against its US and Australian counterparts during the local session. The South Pacific currency also weakened against the Pound and Euro as one of New Zealandâ€™s biggest exporters reported reduced earnings.
CAD/USD â€“ Trading in the Region of 0.9701
Although better-than-forecast Canadian retail sales data helped the Canadian Dollar gain on peers like the â€˜Greenbackâ€™, with commodity prices declining the â€˜Loonieâ€™ closed the local session weaker. US news is likely to be the main cause of Canadian Dollar movement in the hours ahead.
USD/JPY â€“ Trading in the Region of 98.6300
With US budget concerns sparking risk aversion among investors and causing Asian stocks to decline, the Yen posted widespread gains overnight and strengthened against its North American safe-haven counterpart.
South African Rand
USD/ZAR â€“ Trading in the Region of 9.8415
After a stilted session yesterday the Rand remains trading in a tight range against its main currency rivals today. That being said, the South African asset did decline modestly against the US Dollar as US budget concerns weighed on higher risk currencies, and todayâ€™s domestic consumer confidence report could inspire further movement.
As of Wednesday, 25th September 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1891, GBP USD exchange rate was 1.6077, GBP AUD exchange rate was 1.717, GBP NZD exchange rate was 1.9507, GBP CAD exchange rate was 1.6586, GBP JPY exchange rate was 158.3417, and GBP ZAR exchange rate was 16.0474.