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Sat 30 May 2020 19:21GMT

EUR/GBP At Three Week Low, AUD/USD At Four Month High

Published: 28 Mar at 1 PM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Japan, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6622
The Pound closed the week in a stronger position against many of its most traded currency counterparts. The British asset was supported against its peers as yesterday’s impressive UK retail sales report and today’s surprisingly upbeat UK consumer sentiment data added to the case for the Bank of England increasing interest rates sooner rather than later.

US Dollar
USD/GBP – Trading in the Region of 0.6017
While the ‘Greenback’ is preparing to post five-day declines against the Australian and New Zealand Dollars, the US currency was able to advance on a softening Euro. Today’s US personal income figures and University of Michigan confidence index could inspire some additional US Dollar movement.

Euro
EUR/USD – Trading in the Region of 1.3733
Although a gauge of economic confidence for the Eurozone achieved its highest level since mid-2011 in March, inflation concerns kept the Euro trading lower as the European session progressed on Friday.

Australian Dollar
AUD/USD – Trading in the Region of 0.9252
As China’s Premier indicated that the government will intercede in order to prevent a worsening of the nation’s economic slowdown the Australian Dollar extended recent gains. The ‘Aussie’ is enjoying a bullish relationship with peers like the ‘Greenback’ ahead of next week’s Reserve Bank of Australia rate decision.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8675
The ‘Kiwi’ advanced on the majority of its rivals overnight but was trading at a multi-week low against the Australian Dollar. With economic news for New Zealand limited next week, global developments will be the main cause of movement in the domestic currency.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9078
The Canadian Dollar edged lower against a bullish Pound on Friday but managed to strengthen against a floundering Euro. The CAD/USD pairing was trading in a fairly narrow range ahead of the release of US data.

Japanese Yen
USD/JPY – Trading in the Region of 102.3600
While economists’ appetite for higher-risk assets remained strong, the Yen was able to claw back some losses following the publication of encouraging Japanese inflation figures.

South African Rand
USD/ZAR – Trading in the Region of 10.6095
After hitting a three-month high against the US Dollar yesterday the Rand was little-changed on Friday. The emerging-market asset was supported on Thursday by the news that the South African Reserve Bank refrained from increasing interest rates.
As of Friday, 28th March 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2101, GBP USD exchange rate was 1.6641, GBP AUD exchange rate was 1.7996, GBP NZD exchange rate was 1.9212, GBP CAD exchange rate was 1.8407, GBP CNY exchange rate was 10.3379, GBP JPY exchange rate was 171.114, and GBP ZAR exchange rate was 17.6165.
Laura Parsons About Author: (357 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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