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Exchange Rate News: EUR/GBP Holds Declines, USD/AUD Fluctuates

Published: 28 Nov 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– Trading in the Region of 1.6337
With yesterday’s reports confirming that the UK economy expanded by 0.8 per cent in the third quarter the Pound surged against its peers and largely retained gains overnight. In a quiet UK news day Sterling fluctuations could be inspired by developments in the Eurozone.

US Dollar
USD/EUR – Trading in the Region of 0.7351
Although yesterday’s encouraging US data helped the ‘Buck’ advance on several of its main rivals, the US Dollar continued to struggle against a broadly stronger Euro and Pound. With US news thin on the ground in the hours ahead, further ‘Greenback’ movement could be restricted.

Euro
EUR/USD – Trading in the Region of 1.3603
Although the Euro declined against the Pound as German unemployment climbed unexpectedly, the common currency remained stronger against the US Dollar as Spanish inflation accelerated more quickly than expected in November. Eurozone confidence data and German inflation figures are likely to trigger further Euro movement in the hours ahead.

Australian Dollar
AUD/USD – Trading in the Region of 0.9119
The ‘Aussie’ clawed back losses against the US Dollar during local trading as Australian business investment advanced. However, the South Pacific asset stayed close to a two-month low against the ‘Greenback’ and remained locked in a bearish relationship with the Pound.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8152
A surprisingly strong business confidence index for New Zealand helped the ‘Kiwi’ edge higher against the US Dollar. With a domestic building permit report due out later today further New Zealand Dollar fluctuations could occur.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9447
The ‘Loonie’ was languishing close to a five-month low against its US counterpart overnight as the price of crude oil fell for another day. During North American trading Canadian Dollar fluctuations could be triggered by domestic current account/industrial product price/raw materials price reports.

Japanese Yen
USD/JPY – Trading in the Region of 102.2100
The Yen weakened beyond 102 Yen per Dollar on the expectation that US data will continue to show economic improvement. The Asian asset was able to move away from a four-month low against the Euro ahead of the release of several influential Eurozone reports.

South African Rand
USD/ZAR – Trading in the Region of 10.1760
The US Dollar slipped slightly against its emerging-market peer ahead of the release of South African producer price data.
As of Thursday, 28th November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2012, GBP USD exchange rate was 1.634, GBP AUD exchange rate was 1.7991, GBP NZD exchange rate was 2.014, GBP CAD exchange rate was 1.73, GBP JPY exchange rate was 167.1503, and GBP ZAR exchange rate was 16.6626.
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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