GBP Steady After Sales Gain, Yen Advances As Ukraine Tension Mounts

Published: 25 Apr at 3 PM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Germany, Japan, Russia, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6817
On Friday the UK’s retail sales report had a minimal impact on the Pound. Although sales including autos unexpectedly increased, the British asset softened against the Euro and held steady against the US Dollar. Today’s US services PMI and confidence data could impact the GBP/USD pairing before the weekend.

US Dollar
USD/GBP – Trading in the Region of 0.5946
The ‘Greenback’ lost ground against the Yen overnight as the Japanese currency was boosted by a bout of Ukraine-focused risk aversion. Today’s US services PMI and University of Michigan confidence report could support the US Dollar over the weekend if they show improvement.

Euro
EUR/USD – Trading in the Region of 1.3833
As another week drew to a close the Euro was little-changed against the ‘Buck’ and only moderately stronger against the Pound. Next week sees the release of German retail sales and inflation data, both of which could inspire considerable Euro volatility.

Australian Dollar
AUD/USD – Trading in the Region of 0.9287
While the ‘Aussie’ is still struggling against the US Dollar, a quiet local trading session allowed the AUD/GBP pairing to recoup some of its recent losses. China’s manufacturing data, due out next Thursday, could cause a rebound in commodity currencies like the Australian Dollar if it shows improvement.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8586
As Australasian markets were closed for ANZAC day, the ‘Kiwi’ traded in a narrow range on Friday. While the New Zealand Dollar continues to derive underlying support from the RBNZ’s decision to increase interest rates, next week is data heavy and fluctuations can be expected.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9075
Despite the tense situation in Ukraine, the Canadian Dollar strengthened modestly against its US counterpart on Friday. While Canadian data has been limited this week, investors are already looking ahead to next week’s domestic GDP report and manufacturing PMI.

Japanese Yen
USD/JPY – Trading in the Region of 102.0200
Investors flocked to the safe-haven Yen after a US official issued Russia with a warning regarding the situation in Ukraine. The Yen strengthened against the ‘Greenback’ for a second day even after domestic inflation data added to the case for the Bank of Japan introducing additional stimulus.

South African Rand
USD/ZAR – Trading in the Region of 10.6450
As the situation in the Ukraine remains tense, emerging-market currencies like the Rand are feeling the pressure. The Rand slipped against its US counterpart on Friday and may hold declines over the weekend.
As of Friday, 25th April 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2145, GBP USD exchange rate was 1.6801, GBP AUD exchange rate was 1.8107, GBP NZD exchange rate was 1.9583, GBP CAD exchange rate was 1.8546, GBP CNY exchange rate was 10.5064, GBP JPY exchange rate was 171.6894, GBP RUB exchange rate was 60.4313, and GBP ZAR exchange rate was 17.9272.

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