Compare exchange rates, send money abroad and online

Fri 24 Sep 2021 01:38GMT

Exchange Rate News: Pound Holding Steady, Aussie Stronger Before FOMC

Published: 29 Jan at 11 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, Turkey,

Pound Sterling
GBP/USD– Trading in the Region 1.6595
The Pound was little-changed against its major peers as UK house price data showed that home values surged for a 13th month. Sterling continues to derive support from yesterday’s UK growth figures but has edged away from Tuesday’s highs.

US Dollar
USD/GBP – Trading in the Region of 0.6026
With the Federal Open Market Committee’s policy announcement looming the ‘Greenback’ was slightly softer against the Pound and Euro and lost ground against emerging-market and commodity-driven currencies. The US Dollar was adversely affected by Tuesday’s disappointing durable goods orders figures but could recoup losses if the Fed does indeed taper stimulus.

EUR/USD – Trading in the Region of 1.3673
After putting in a patchy performance against its peers yesterday, the Euro recovered losses during European trading thanks to better-than-forecast German consumer confidence data.

Australian Dollar
AUD/USD – Trading in the Region of 0.8790
Overnight the Australian Dollar rallied as Turkey increased interest rates to limit volatility among emerging market currencies. The ‘Aussie’ was also supported as Australia’s Westpac leading index advanced by 0.1 per cent in December.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8281
Ahead of the Reserve Bank of New Zealand’s policy announcement the ‘Kiwi’ was enjoying a stronger position against its US, British and European counterparts. If the RBNZ hints at future rate increases the New Zealand Dollar could advance further.

Canadian Dollar
CAD/USD – Trading in the Region of 0.8962
A light news day for Canada left the ‘Loonie’ struggling during the North American session. However, the Canadian Dollar posted short-lived gains against the US Dollar following the release of less-than-impressive durable goods orders figures for the US. The ‘Loonie’ also advanced on several of its other rivals as commodity-driven currencies were supported by Turkey’s rate decision.

Japanese Yen
USD/JPY – Trading in the Region of 103.3400
With Turkey’s decision to increase interest rates tempering investor demand for safe-haven assets the Yen softened against its major peers. While the upcoming FOMC announcement will be today’s major market mover, Japanese retail trade and foreign bond buying figures will also be of interest.

South African Rand
USD/ZAR – Trading in the Region of 11.1613
A renewed interest in higher-risk assets helped the Rand climb to a two-week high against the US Dollar. However, if the South African central bank follows Turkey’s lead and delivers a surprise rate decision the Rand could fluctuate.
As of Wednesday, 29th January 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2124, GBP USD exchange rate was 1.6558, GBP AUD exchange rate was 1.893, GBP NZD exchange rate was 2.0168, GBP CAD exchange rate was 1.8516, GBP JPY exchange rate was 169.3769, and GBP ZAR exchange rate was 18.6971.
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.

Live Exchange Rates