SendMoney.org.uk

Compare exchange rates, send money abroad and online

Mon 1 Jun 2020 10:13GMT

Exchange Rate News: Major Currencies Volatile In Heavy News Day

Published: 30 Oct 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/EUR – Trading in the Region of 1.1672
The expectation that this week’s UK manufacturing and house price data will reveal growth slowing in both sectors kept the Pound trading close to a two-month low against the Euro during the local session. While today’s Lloyd’s business barometer could impact Sterling, market movement will primarily be triggered by US developments.

US Dollar
USD/EUR – Trading in the Region of 0.7276
As the Federal Open Market Committee prepares to deliver its highly anticipated policy statement at 18:00 GMT the US Dollar enjoyed widespread gains against its rivals. Overnight the ‘Buck’ consolidated gains against the Yen and made a notable advance against both the Australian and New Zealand Dollars.
Euro
EUR/USD – Trading in the Region of 1.3737
With separate reports confirming that Spain emerged from recession in the third quarter while German unemployment increased by 2,000 in October, the Euro experienced modest fluctuations early into the European session. With several other influential data releases on the cards for today further Euro movement is likely.

Australian Dollar
AUD/USD – Trading in the Region 0.9500
As Reserve Bank of Australia Governor Glenn Stevens asserted that the ‘Aussie’ is likely to be considerably weaker in the future, the South Pacific currency stumbled against the majority of its most traded rivals. Although a report showed a strong increase in domestic home sales, the Australian Dollar ended the local session weaker.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8264
Although investors are largely concerned with developments in the US, the upcoming Reserve Bank of New Zealand rate decision will also impact the ‘Kiwi’. As it stands the New Zealand Dollar is broadly weaker having softened in response to the news that top ratings agency Moody’s considered reducing New Zealand’s AAA credit rating.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9566
Yesterday the ‘Loonie’ hit a seven-week low against its US counterpart as Bank of Canada Governor Stephen Poloz explained his reasoning for omitting rate-increase hints in the central bank’s recent policy statement.

Japanese Yen
USD/JPY – Trading in the Region of 98.2100
The Yen retained recent declines against the ‘Greenback’ as Australasian trading closed and investors debated the potential content of the Federal Reserve’s policy statement. If the central bank offers a more hawkish stance than expected the Yen could extend losses overnight.

South African Rand
USD/ZAR – Trading in the Region of 9.8350
As the US Dollar broadly strengthened ahead of the Federal Reserve announcement, the Rand softened against its North American rival. With tapering timeline speculation rife and South African trade balance data due out tomorrow further Rand movement can be expected.
As of Wednesday, 30th October 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1677, GBP USD exchange rate was 1.6025, GBP AUD exchange rate was 1.6925, GBP NZD exchange rate was 1.9423, GBP CAD exchange rate was 1.6795, GBP JPY exchange rate was 157.8638, and GBP ZAR exchange rate was 15.9377.
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.

Live Exchange Rates