GBP Ends Week Stronger, EUR/GBP At 17-Month Low

Published: 23 May at 1 PM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Germany, Japan, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6833
While the Pound pared its advance against the US Dollar following the release of UK GDP figures and US manufacturing data, the British currency continues to trade in the region of a 17-month high against the Euro.

US Dollar
USD/GBP – Trading in the Region of 0.5938
Yesterday’s unexpectedly strong increase in US manufacturing PMI helped the US Dollar gain on several of its currency counterparts. Additional ‘Greenback’ movement could occur as a result of today’s US new home sales report.

Euro
EUR/USD – Trading in the Region of 1.3620
The news that three measures of German economic confidence decline in May saw the Euro consolidate declines against peers like the Pound and US Dollar. The common currency was also struggling as German growth data showed that domestic demand is fuelling expansion as exports falter.

Australian Dollar
AUD/USD – Trading in the Region of 0.9224
The ‘Aussie’ recovered some of its recent declines yesterday following the release China’s manufacturing PMI. The commodity-driven currency was trading in a narrow range overnight and was little changed as the week drew to a close.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8542
A steep drop in consumer confidence in New Zealand inspired modest ‘Kiwi’ declines during Australasian trading. The New Zealand Dollar edged lower against the Pound and ‘Greenback’.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9178
The ‘Loonie’ fluctuated modestly after the release of Canadian retail sales figures on Thursday. Further Canadian Dollar movement could occur following the release of Canadian inflation figures.

Japanese Yen
USD/JPY – Trading in the Region of 101.8900
The Yen weakened after positive Chinese PMI boosted risk appetite on Thursday and the currency remains slightly softer against its US peer.

South African Rand
USD/ZAR – Trading in the Region of 10.3585
After advancing on the US Dollar following the South African Reserve Bank’s decision to leave interest rates unaltered, the Rand was holding steady on Friday.
As of Friday, 23rd May 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2346, GBP USD exchange rate was 1.683, GBP AUD exchange rate was 1.8231, GBP NZD exchange rate was 1.9677, GBP CAD exchange rate was 1.828, GBP CNY exchange rate was 10.4959, GBP JPY exchange rate was 171.5993, and GBP ZAR exchange rate was 17.3292.

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