Compare exchange rates, send money abroad and online

Wed 2 Dec 2020 01:02GMT

Exchange Rate News: Euro Falters, New Zealand Dollar Recovers

Published: 31 Jan at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Germany, Japan, South Africa,

Pound Sterling
GBP/USD– Trading in the Region 1.6456
This morning the Pound advanced on the Euro after UK consumer confidence hit its highest level since 2007. The British asset was little-changed against the US Dollar but may advance if today’s US personal consumption figures disappoint.

US Dollar
USD/GBP – Trading in the Region of 0.6071
The number of American’s filing for unemployment benefits for the first time may have increased unexpectedly in the week ending January 25th, but the US Dollar continued to enjoy a bullish relationship with several of its peers thanks to the Fed’s decision to taper stimulus.

EUR/USD – Trading in the Region of 1.3546
Early in European trading the Euro faltered against its major rivals as German retail sales were shown to have plummeted in December. Further common currency volatility can be expected to occur following the release of Eurozone inflation and unemployment figures.

Australian Dollar
AUD/USD – Trading in the Region of 0.8756
Overnight the ‘Aussie’ was modestly boosted by the expectation that the Reserve Bank of Australia will refrain from trimming interest rates when it meets next week. A stronger-than-forecast increase in Australian private sector credit also supported the South Pacific asset.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8143
News that increased trade with China resulted in New Zealand’s trade surplus widening by considerably more than anticipated in December helped the ‘Kiwi’ trim recent declines against several of its major rivals during Australasian trading.

Canadian Dollar
CAD/USD – Trading in the Region of 0.8945
Ahead of the release of today’s all-important Canadian growth data the ‘Loonie’ was trading lower against its US counterpart. If the nation’s economy is shown to have expanded by less-than-forecast the Canadian Dollar could continue on its downward spiral.

Japanese Yen
USD/JPY – Trading in the Region of 102.4500
Although household spending in Japan increased by less than expected, news that the nation’s jobless rate fell from 4.0 per cent to 3.7 per cent in December and housing starts surged lent the Yen support. The Asian asset was slightly stronger against the US Dollar ahead of US personal consumption figures.

South African Rand
USD/ZAR – Trading in the Region of 11.1745
Although the Rand began local trading slightly stronger against the US Dollar, the commodity-driven asset remained under serious pressure ahead of the publication of South African trade balance figures.
As of Friday, 31st January 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.219, GBP USD exchange rate was 1.644, GBP AUD exchange rate was 1.8778, GBP NZD exchange rate was 2.0334, GBP CAD exchange rate was 1.8295, GBP CNY exchange rate was 9.9643, GBP JPY exchange rate was 167.7729, and GBP ZAR exchange rate was 18.2942.
Dominic Lee About Author: (443 Posts)With over ten years experience as an economist – including four years spent as a chief economist with a major currency broker – Dominic has acquired a wealth of knowledge which he uses to forecast market movements. Dominic now works as an independent business advisor and writes for several financial publications.

Live Exchange Rates