Exchange Rate News: GBP/USD Close To Month High

Published: 25 Nov at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Germany, Japan, South Africa,

Pound Sterling
GBP/USD– Trading in the Region of 1.6205
Before UK mortgage approvals data was published the Pound was trading close to a four-week high against its US counterpart. With influential news thin on the ground today Sterling volatility may be restricted in the hours ahead.

US Dollar
USD/EUR – Trading in the Region of 0.7384
While today’s US pending home sales and manufacturing activity reports could support the ‘Greenback’ if they meet or exceed estimates, speculation surrounding a timeline for the Federal Reserve tapering stimulus is keeping the US Dollar under pressure.

Euro
EUR/USD – Trading in the Region of 1.3533
On Friday the Euro recorded notable gains against peers like the US Dollar and Pound as measures of German business confidence showed better-than-expected improvement. The common currency largely held advances as the European session opened.

Australian Dollar
AUD/USD – Trading in the Region of 0.9193
Last week hints that the Reserve Bank of Australia might intervene in the currency market in order to restrain the ‘Aussie’s exchange rate saw the South Pacific asset fall to a 2 ½ month low against the US Dollar and a five-year low against its New Zealand counterpart. The Australian Dollar was little changed at the close of the local session.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8221
Swap rates climbing to a two-year high saw the New Zealand Dollar advance on all of its main counterparts during Australasian trading. Further ‘Kiwi’ movement could occur as a result of domestic trade balance figures.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9475
At the close of last week the commodity-driven ‘Loonie’ lost ground against the US Dollar as a result of domestic inflation and retail sales reports. Over the course of this week Canadian Dollar movement could be triggered by local current account and GDP data.

Japanese Yen
USD/JPY – Trading in the Region of 101.7200
As an agreement was reached regarding restraining Iran’s nuclear programme, the appeal of the safe-haven Yen declined and the Asian asset posted widespread losses. The Yen plummeted to an almost six-month low against its US counterpart.

South African Rand
USD/ZAR – Trading in the Region of 10.0390
In a comparatively heavy news week for South Africa the Rand began the local session trading in a tight range against its US peer. With GDP, producer price and South African trade balance figures all due for publication in the days ahead Rand volatility can be expected.
As of Monday, 25th November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1949, GBP USD exchange rate was 1.6168, GBP AUD exchange rate was 1.7584, GBP NZD exchange rate was 1.964, GBP CAD exchange rate was 1.702, GBP JPY exchange rate was 163.9056, and GBP ZAR exchange rate was 16.3249.

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