Exchange Rate News: Euro, Pound, US Dollar, Australian Dollar

Published: 27 Sep 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, Japan, South Africa,

Pound Sterling
GBP/EUR – Trading in the Region of 1.1912
As the weekend approached the Pound enjoyed a surge against the majority of its main rivals as Bank of England Governor Mark Carney asserted that there is no need for additional easing and a gauge of UK consumer confidence rose close to a six-year high. A separate report also showed that UK labour productivity climbed for the first time in two years.

US Dollar
USD/EUR – Trading in the Region of 0.7409
With the US budget debate raging on the safe-haven US Dollar was able to gain on its higher-risk rivals overnight. The ‘Greenback’ was also boosted as a Federal Reserve official intimated that labour market improvements mean easing could be tapered in the next few months.

Euro
EUR/USD – Trading in the Region of 1.3495
While the Euro softened against a bullish Pound as the European session opened, slightly stronger-than-forecast French growth data helped the common currency advance on the US Dollar. Euro volatility can be expected today as investors await the release of influential confidence indexes for the Eurozone and inflation data for German.

Australian Dollar
AUD/USD – Trading in the Region of 0.9325
Ahead of next week’s Reserve Bank of Australia policy meeting, and with the odds of a further rate cut occurring before the close of the year increasing, the ‘Aussie’ extended declines against the US Dollar. Federal shutdown concerns may well keep pressure on the South Pacific asset over the weekend.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8291
Overnight the ‘Kiwi’ posted a modest gain against the ‘Greenback’, but after weakening for several days the New Zealand Dollar is still heading for a five-day decline of 0.7 per cent against its US counterpart.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9690
With the price of crude oil hitting an almost two-month low, and US growth data highlighting Canada’s own lacklustre economic recovery, the ‘Loonie’ slumped to its lowest level this week against the US Dollar. While today’s Canadian average weekly earnings report will be of interest, market movement will most likely be driven by US developments.

Japanese Yen
USD/JPY – Trading in the Region of 98.5500
The Yen reversed declines during Australasian trading as Japan’s Finance Minister Taro Aso allayed fears regarding a government corporate tax cut. The safe-haven asset strengthened against several of its other main peers as higher-risk currencies were abandoned in the face of Federal shutdown fears.

South African Rand
USD/ZAR – Trading in the Region of 9.9570
After softening against the US Dollar yesterday as producer price inflation data showed an unexpected increase in South Africa’s inflationary pressures, the USD/ZAR pairing was little changed as the local session opened. The Rand could extend declines if today’s US data, including a personal consumption report, are positive.
As of Friday, 27th September 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1935, GBP USD exchange rate was 1.6139, GBP AUD exchange rate was 1.7323, GBP NZD exchange rate was 1.9485, GBP CAD exchange rate was 1.6628, GBP JPY exchange rate was 158.5777, and GBP ZAR exchange rate was 16.2886.

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