SendMoney.org.uk

Compare exchange rates, send money abroad and online

Tue 11 Aug 2020 07:30GMT

Exchange Rate News: USD Stronger, EUR Weaker, GBP Mixed

Published: 31 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 1.1696
A strong increase in UK home prices bolstered the Pound against the Euro, and the British asset was able to consolidate gains following the publication of disappointing German data. However, the FOMC policy statement and a drop in UK consumer confidence left Sterling softer against the US Dollar.

US Dollar
USD/EUR – Trading in the Region of 0.7301
The Federal Reserve’s decision to maintain its current level of asset purchases whilst hinting at the prospect of future tapering boosted the ‘Buck’ against its rivals and the safe-haven asset broadly strengthened during the North American session. Economists’ expectations for a drop in US initial jobless claims also supported the US Dollar.

Euro
EUR/USD – Trading in the Region of 1.3709
Prior to the publication of Eurozone employment and inflation data the Euro weakened against the majority of its peers in reaction to less-than-impressive German retail sales and confidence reports. The EUR/USD pairing was also feeling the pressure ahead of today’s initial jobless claims figures.

Australian Dollar
AUD/USD – Trading in the Region 0.9500
During Australasian trading the ‘Aussie’ recovered recent losses as domestic housing data showed an impressive gain in building approvals. The 14.4 per cent month-on-month surge in approvals counteracted the adverse effect of slightly disappointing Australian private sector credit figures and helped the South Pacific asset end the local session stronger.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8250
The ‘Kiwi’ rallied against peers like the US Dollar overnight as the Reserve Bank of New Zealand held rates at their previous levels (as expected by economists) and refrained from highlighting the dangers of a stronger domestic currency. The New Zealand Dollar was also supported by a better-than-expected increase in a NBNZ activity outlook gauge.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9566
With Canadian growth data scheduled for release today the ‘Loonie’ is feeling the pressure. The Canadian Dollar slipped to a seven-week low against the ‘Buck’ during North American trading and lost ground against Sterling in the wake of the FOMC policy statement.

Japanese Yen
USD/JPY – Trading in the Region of 98.3500
While the Yen did give up recent gains against the US Dollar in the aftermath of the Fed announcement, the safe-haven currency closed Australasian trading a little stronger against the Euro.

South African Rand
USD/ZAR – Trading in the Region of 9.9540
With South African trade balance data due for release at 12:00 GMT the Rand could be in for a volatile trading session. As it stands, the Rand is locked in a moderately bearish relationship with its US counterpart.
As of Thursday, 31st October 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1815, GBP USD exchange rate was 1.6043, GBP AUD exchange rate was 1.6956, GBP NZD exchange rate was 1.942, GBP CAD exchange rate was 1.6735, GBP JPY exchange rate was 157.7597, and GBP ZAR exchange rate was 16.1417.
Laura Parsons About Author: (358 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