Aussie (AUD) Kiwi (NZD) Pound (GBP) And Yen (JPY) Post Weekly Gain Against US Dollar (USD)

Published: 12 Jul at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, France, Germany, Greece, Ireland, Italy, Japan, South Africa, Portugal,

Pound Sterling
GBP/USD – Trading in the Region of 1.5133
As a result of recent US news, and with economists forecasting that today’s industrial production report for the Eurozone will show a decline, the Pound advanced modestly against the US Dollar and Euro as local trade began. However, with UK construction output declining by considerably more than expected in May, Sterling could pare gains as the session continues.

US Dollar
USD/EUR – Trading in the Region of 0.7656
The ‘Greenback’s bearish relationship with several of its most traded currency rivals continued overnight as investors speculate about today’s announcements from three regional Federal Reserve Bank Presidents. US Dollar fluctuations may also occur following the release of a US producer price report and the University of Michigan confidence index. As it stands, the US Dollar is in line to record a weekly slide against peers including the Yen and Pound.

Euro (Currency of Germany, France, Spain, Italy, Portugal, Greece, Ireland etc)
EUR/USD – Trading in the Region of 1.3052
The expectation that this morning’s industrial production report for the Eurozone will show a decline wore on the common currency as the local session began. The Euro moved away from yesterday’s three-week high against the US Dollar and was trading modestly lower against the Pound.

Australian Dollar
AUD/USD – Trading in the Region of 0.9148
The ‘Aussie’ shed recent gains against the US Dollar during the Australasian session as data showed that Australian home loans advanced by less than forecast and the odds of the Reserve Bank of Australia cutting rates to new record lows increased.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.7859

After strengthening slightly against the ‘Greenback’ overnight the Kiwi is marching towards a five-day gain of 2 per cent against its American counterpart. Next week’s inflation report is the next piece of pertinent economic news for New Zealand.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9649
The local session ended with the Canadian Dollar trading higher against its US rival. Federal Reserve-focused news is likely to continue driving ‘Loonie’ movement in the days ahead.

Japanese Yen
USD/JPY – Trading in the Region of 98.8700
With the likelihood of the Bank of Japan extending its present level of stimulus dropping, the Yen was able to continue its recent bullish trend against the US Dollar. The Asian asset strengthened to 98 Yen per Dollar during local trade.

South African Rand
ZAR/USD – Trading in the Region of 10.0444
Slightly disappointing industrial production figures for South Africa caused the Rand to weaken modestly against the US Dollar and Pound yesterday. With eyes turned to the US once more and the weekend heading our way the Rand was slightly softer as trade began.
As of Friday, 12th July 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1561, GBP USD exchange rate was 1.5107, GBP AUD exchange rate was 1.6693, GBP NZD exchange rate was 1.9397, GBP CAD exchange rate was 1.5702, GBP JPY exchange rate was 149.8831, and GBP ZAR exchange rate was 15.0823.

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