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Exchange Rate News: Quiet session ahead due to lack of data

Published: 26 Nov at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Japan, South Africa,

Pound Sterling
GBP/USD– Trading in the Region of 1.6189
The Pound is likely to remain little moved throughout today’s session due to a lack of data releases. Sterling could be impacted as Bank of England Governor Mark Carney and other policy makers testify to parliament’s Treasury committee.

US Dollar
USD/EUR – Trading in the Region of 0.7377
The ‘Greenback’ retreated against the Japanese Yen due to investors consolidating their positions following the large gains achieved over the past few days. The US Dollar continues to remain supported by investor expectations that the Federal Reserve will start rolling back stimulus at one of its upcoming policy meetings.

The Euro
EUR/USD – Trading in the Region of 1.3554
The single currency dropped against the Pound late in yesterday’s session and remains softer after European Central Bank governing council member Ardo Hansson said that the Bank is read to make further cuts to interest rates and is ‘technically ready’ to implement negative deposit rates. The currency softened further after unemployment in Finland rose more than forecast.

Australian Dollar
AUD/USD – Trading in the Region of 0.9161
The ‘Aussie’ fell against its peers yet again. The currency did firm briefly earlier in the session after Reserve Bank of Australia deputy governor Philip Lowe declined to add to the banks recent comments regarding the overvaluing of the ‘Aussie’. The currency then resumed its decline as bets that the RBA will take steps to weaken it further increased.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8224
The ‘Kiwi’ is little moved as traders await the nation’s trade balance data is expected to show that the nation’s trade deficit narrowed in October as exports increased. Construction data is also expected to show an increase. The data is due for release tonight UK time.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9483
The Canadian Dollar dropped to a fresh four-month low against the US Dollar and other major currencies as the price of oil, Canada’s biggest export, continued to fall following the deal struck between Iran and global powers.

Japanese Yen
USD/JPY – Trading in the Region of 101.4883
The Japanese Yen snapped a decline against the US Dollar but remains close to a five-year low against the Pound following the publication of the Bank of Japans policy meeting minutes for November. The currency rose after the minutes showed that policy makers were concerned for the nation’s economic outlook.

South African Rand
USD/ZAR – Trading in the Region of 10.1042
The Rand is little changed against the Pound and other peers as the market awaits the release of data which is expected to show that the South African economy contracted during the third quarter. Economists are expecting the data to show a 1.2% expansion, weaker than the 3% growth recorded in the previous quarter.

As of Tuesday, 26th November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1948, GBP USD exchange rate was 1.6209, GBP AUD exchange rate was 1.7773, GBP NZD exchange rate was 1.9789, GBP CAD exchange rate was 1.709, GBP JPY exchange rate was 164.1183, and GBP ZAR exchange rate was 16.4208.
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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