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Sat 30 May 2020 19:39GMT

GBP Climbs After Retail Sales, ZAR Holding Steady

Published: 27 Mar at 12 PM 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/USD – Trading in the Region of 1.6621
Over the course of European trading, the Pound extended gains against its rivals. Sterling broadly strengthened following the release of unexpectedly upbeat UK retail sales figures and the currency may hold on to these gains until tomorrow and the publication of UK growth data.

US Dollar
USD/GBP – Trading in the Region of 0.6015
Yesterday the ‘Greenback’ experienced modest fluctuations following the release of mixed US durable goods orders and positive US services PMI data. Today the safe-haven asset could advance if US initial jobless claims and growth reports add to the case for the Federal Reserve persevering with the tapering of stimulus.

Euro
EUR/USD – Trading in the Region of 1.3756
A lack of significant Eurozone data kept Euro movement restrained on Thursday. Global developments saw the common currency edge lower against the Pound, US Dollar and ‘Aussie’ ahead of tomorrow’s influential German consumer price index.

Australian Dollar
AUD/USD – Trading in the Region of 0.9230
While the Australian Dollar remained trading close to its 2014 high against the ‘Greenback’ the South Pacific currency lost ground against a bullish New Zealand Dollar and supported Pound.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8658
Impressive domestic trade data saw the ‘Kiwi’ advance on the majority of its currency counterparts overnight. A record trade surplus for February boosted the New Zealand Dollar higher before the close of the local session.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9014
Today’s US initial jobless claims figures and US growth report could have an impact on the ‘Loonie’ in the hours ahead but CAD movement may well be restrained for the rest of the week.

Japanese Yen
USD/JPY – Trading in the Region of 102.1800
Heightened risk appetite drove the Yen lower during the Australasian session. Before the weekend Japanese household spending, jobless rate and retail trade reports may inspire Yen movement.

South African Rand
USD/ZAR – Trading in the Region of 10.6492
Before the highly anticipated South African Reserve Bank rate decision the Rand was holding steady against most of its peers. The central bank is expected to leave rates unaltered.
As of Thursday, 27th March 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2086, GBP USD exchange rate was 1.6607, GBP AUD exchange rate was 1.792, GBP NZD exchange rate was 1.9165, GBP CAD exchange rate was 1.8318, GBP JPY exchange rate was 169.6708, and GBP ZAR exchange rate was 17.5706.
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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