US Dollar Broadly Stronger - Pound (GBP), Euro (EUR), Yen (JPY) And Aussie (AUD) Decline

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

Pound Sterling
GBP/USD – Trading Lower, 1.5501
After hitting a three and a half year high against the US Dollar last week, the Pound modestly weakened against its US peer this morning. Sterling was little changed against the Euro as a BDP LLP survey revealed that the UK economy is showing signs of recovery.

US Dollar
USD/GBP – Trading Higher, 0.6450
Last week’s US non-farm payrolls report allowed the US Dollar to broadly strengthen. The safe-haven currency advanced on the Pound and Euro, as well as rebounding from a two-month low against the Yen. This week any pieces of positive US news could up the odds of the Federal Reserve tapering stimulus before the end of the year and allow the Dollar to maintain a bullish relationship with its peers.

Euro
EUR/USD – Trading Lower, 1.3209
After broadly strengthening last week the Euro began the European session trading slightly lower against its US counterpart. The common currency may dip in the hours ahead as an index of investor confidence in the Eurozone fell by more than anticipated last month. This morning’s Italian GDP figures will also be of interest.

Australian Dollar
AUD/USD – Trading Higher, 0.9435
Although the Australian Dollar initially shed 0.7 per cent against the US Dollar in the aftermath of worse-than-expected Chinese import data, the commodity-driven currency modestly strengthened as the European session opened, rising from 0.9390.

New Zealand Dollar
NZD/USD – Trading Lower, 0.7860
With New Zealand’s trade prospects dimmed by disappointing Chinese import data the ‘Kiwi’ fell against the US Dollar. However, domestic data did show an improvement in the level of manufacturing activity in New Zealand, from -0.1 per cent in the final quarter of last year to 0.2 per cent in the first quarter of 2013.

Canadian Dollar
CAD/USD – ‘Loonie’ Stronger, 0.9805
Last week the Canadian Dollar posted a significant advance against its US counterpart as domestic employment figures pleasantly surprised. The unexpected drop in Canada’s unemployment level pushed the ‘Loonie’ back above 98 cents. Today’s local housing starts figures could be responsible for further movement in the hours ahead.

Japanese Yen
USD/JPY – Yen Weaker, 98.3400
After hitting a two month high against the US Dollar last week the Yen weakened against its safe-haven rival during the local session after worse-than-forecast Chinese data boosted the appeal of the US asset.

South African Rand
ZAR/USD – Rand Weaker, 10.1720
Better-than-anticipated US non-farm payrolls data and some less positive news from China pushed the Rand back above 10 per US Dollar. The current issues in Turkey have also resulted in aversion to higher-risk assets, contributing to the Rand’s decline.

As of Monday, 10th June 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1748, GBP USD exchange rate was 1.5573, GBP AUD exchange rate was 1.6467, GBP NZD exchange rate was 1.9717, GBP CAD exchange rate was 1.5879, GBP CNY exchange rate was 9.5516, GBP JPY exchange rate was 153.9483, and GBP ZAR exchange rate was 15.8497.

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