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Fri 19 Jul 2024 12:53GMT

Euro (EUR) Gains, US Dollar (USD) Strengthens, Pound (GBP) Little Changed

Published: 28 Jun 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/USD – Little Changed, 1.5261
As the European session got underway the Pound was little changed against the Euro and US Dollar. The British currency was unaffected by data showing that UK house prices gained by less-than-expected in June, or a separate report showing that domestic consumer confidence hit its highest level for over two years this month. Eurozone and US news could cause the Pound to fluctuate against its major peers as trade continues.

US Dollar
USD/EUR – Trading Lower, 0.7666
While the US Dollar was able to gain on its safe-haven rival the Yen as a result of expectations that today’s US consumer sentiment and business activity figures will show improvement, the ‘Greenback’ declined against a modestly stronger Euro after the publication of German retail sales data. The currency was little changed against the Pound.

EUR/USD – Trading Higher, 1.3044
With German retail sales advancing by twice the amount forecast by economists, the Euro strengthened against currency rivals the Pound and Euro this morning. Further common currency fluctuations could follow the release of German inflation data at 13:00 GMT.

Australian Dollar
AUD/USD – Trading Lower, 0.9248
Although a technical indicator signalled that the Australian Dollar’s recent run of declines may have been excessive, the South Pacific currency continues to be pressured by speculation surrounding the Federal Reserve and the tapering of quantitative easing. As the European session progresses the ‘Aussie’ is trading lower against the Pound and US Dollar.

New Zealand Dollar
NZD/USD – Trading Higher, 0.7801
An unexpected surge in building permits in New Zealand and rallying Asian stocks supported the ‘Kiwi’ during the local session. However, the New Zealand Dollar is still in line to post a 1.7 per cent decline against its US counterpart this month.

Canadian Dollar
CAD/USD – ‘Loonie’ Trading Lower, 0.9538
The ‘Loonie’ shed recent gains against the US Dollar as investors await the publication of Canadian growth data. Economists have forecast that the Canadian economy stagnated in May after posting growth of just 0.2 per cent in April. While domestic news is likely to be the main cause of Canadian Dollar movement as we head into the weekend, US figures will also be of interest.

Japanese Yen
USD/JPY – Yen Weaker, 98.9200
Surging equity markets and rebounding risk appetite saw the safe-haven Yen fall against all of its most traded currency peers during local trade. The Yen briefly hit 99.02 against the ‘Greenback’ (an over two-week low) although a slight upward correction brought it back to trade within the region of 98 Yen per Dollar.

South African Rand
ZAR/USD – Little Changed, 9.9585
Today’s highly anticipated South African balance of trade figures are likely to trigger Rand fluctuations. However, if US business activity and consumer confidence figures fail to meet or exceed expectations additional movement in the ZAR/USD pairing can be expected.
As of Friday, 28th June 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1694, GBP USD exchange rate was 1.5213, GBP AUD exchange rate was 1.6618, GBP NZD exchange rate was 1.966, GBP CAD exchange rate was 1.6002, GBP JPY exchange rate was 150.8071, and GBP ZAR exchange rate was 15.033.
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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