Exchange Rate News: New Zealand Dollar Climbs, Euro Struggles

Published: 5 Feb 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 1.6302
Although the Pound performed well yesterday as the UK construction sector surged unexpectedly, Sterling faltered today as services PMI failed to show the pace of expansion expected.

US Dollar
USD/GBP – Trading in the Region of 0.6130
The ‘Greenback’ recovered losses overnight as US factory orders were shown to have fallen by less than expected. If today’s US employment and non manufacturing figures support the case for the Fed continuing with its plan to gradually taper stimulus the US Dollar could strengthen.

Euro
EUR/USD – Trading in the Region of 1.3509
The Euro softened against peers like the US Dollar and Pound during the European session as services PMI’s for the Eurozone and Germany came in below previous estimates. The expectation of a decline in Eurozone retail sales also kept the Euro trading lower.


Australian Dollar
AUD/USD – Trading in the Region of 0.8893
Although the ‘Aussie’ surged against the majority of its most traded rivals yesterday as investors digested the RBA’s new policy stance, it fell back during Australasian trading as data confirmed that Australia’s services sector contracted in January and the publication of the RBA’s quarterly policy statement drew closer.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8208
Impressive domestic employment figures boosted the ‘Kiwi’ during Australasian trading, although gains were slightly trimmed after an industry expert expressed concern regarding the vulnerability of higher risk assets.


Canadian Dollar
CAD/USD – Trading in the Region of 0.9007
Hopes that the approval of a new oil pipeline would boost Canada’s economy helped the ‘Loonie’ push above 90 cents per US Dollar. The Canadian Dollar could extend gains today if the domestic building permits report is positive.

Japanese Yen
USD/JPY – Trading in the Region of 101.2200
After achieving an over two-month high against the US Dollar the Yen slid slightly as a rally in emerging market currencies lessened the appeal of the safe-haven asset. However, the Yen was able to approach a ten-week high against a struggling Euro.

South African Rand
USD/ZAR – Trading in the Region of 11.1278
Speculation that the slump in emerging market assets had been excessive saw the Rand recover ground against the US Dollar overnight, although the commodity-driven currency slipped early in the local session.
As of Wednesday, 5th February 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2062, GBP USD exchange rate was 1.6324, GBP AUD exchange rate was 1.8286, GBP NZD exchange rate was 1.9842, GBP CAD exchange rate was 1.8086, GBP JPY exchange rate was 165.6442, and GBP ZAR exchange rate was 18.1513.

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