Exchange Rate News: AUD, EUR, NZD, GBP, USD, ZAR, JPY, CAD

Published: 17 Apr at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Japan, South Africa,

Pound Sterling
GBP/EUR – Trading Lower
With the Bank of England due to release minutes from its latest policy meeting this morning the Pound dipped against the Euro. The BOE minutes are likely to trigger Sterling fluctuations, but UK employment figures could also impact the British currency.

US Dollar
USD/EUR – Trading Lower
With risk-appetite strengthening as a result of rebounding commodities, and two US officials stating that the nation needs to continue on its stimulus path, the US Dollar posted declines against several of its higher-risk currency peers. After gaining by 0.6 per cent against the Euro during the European session the ‘Greenback’ fell by 1.1 per cent against the common currency before the close of local trade. The most significant piece of economic news coming out of the US today is the Beige Book release, at 19:00 GMT.

Euro
EUR/USD – Trading Higher
With investors once again turning to higher-risk assets the Euro was able to climb to a seven-week high against the US Dollar. The common currency was aided by comments made by US financial officials regarding the necessity of the US continuing with monetary stimulus. The Euro could experience additional movement following the release of construction output figures for the Eurozone, but much of the currency’s movement will occur in response to global economic developments.

Australian Dollar
AUD/USD – Trading Slightly Lower
Although the ‘Aussie’ has recouped much of the losses sustained following this week’s disappointing Chinese GDP data the currency fell back slightly against the US Dollar this morning. The Australian Dollar eased from 1.0372 US cents to 1.0362 investors remain concerned that the recent drop in the price of gold could extend to other commodities. Tomorrow’s Australian NAB Business Confidence data and China’s property price figures could trigger fluctuations in the Australian Dollar.

New Zealand Dollar
NZD/USD – Trading Higher
With risk-appetite returning to the market higher-yielding currencies like the ‘Kiwi’ were able to gain. The New Zealand Dollar continued to strengthen during local trade, advancing by 1.8 per cent against the Yen and 1 per cent against the US Dollar. New Zealand’s Consumer Price Index for the first quarter, which was released yesterday, was in line with expectations.

Canadian Dollar
CAD/USD – Trading Lower
The ‘Loonie’, which posted its most significant decline for a year against the US Dollar as the week began, clawed back 0.47 of a cent during local trade. The Canadian Dollar was able to advance as Canadian manufacturing sales increased by the most since July 2011. The currency was also supported by rising commodities and positive US news. With the Bank of Canada scheduled to announce its rate decision at 15:00 GMT additional ‘Loonie’ movement can be expected.

Japanese Yen
JPY/USD – Trading Lower
The Yen slid against its most traded peers as investors speculate that the Bank of Japan may not be criticised for implementing policy measures which devalued the Yen at the G-20 gathering. After rallying against the US Dollar in recent days the Yen dropped by 0.8 per cent yesterday and lost a further 0.8 per cent today. The two-day G-20 gathering begins tomorrow.

South African Rand
ZAR/USD – Trading Lower
After metals rallied the Rand rebounded from its most significant slump against the US Dollar for six months, gaining for the first time in three days. The Rand strengthened by 0.6 per cent following its 2.9 per cent fall. This morning the South African currency is trading slightly lower ahead of the publication of the nation’s Consumer Price Index.

As of Wednesday, 17th April 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1694, GBP USD exchange rate was 1.524, GBP AUD exchange rate was 1.4791, GBP NZD exchange rate was 1.805, GBP CAD exchange rate was 1.5643, GBP CNY exchange rate was 9.4063, GBP JPY exchange rate was 149.5073, and GBP ZAR exchange rate was 13.9801.

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