Exchange Rate News: EUR/GBP, AUD/USD, GBP/USD, USD/JPY, ZAR/USD

Published: 29 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, Germany, Japan, South Africa,

Pound Sterling
GBP/USD – Trading Higher
The Pound continued to gain on the US Dollar this morning, strengthening to 1.5523 US Dollars, after UK housing data showed that house prices increased this month. Average house-prices increased by 0.3 per cent in April, following on from the same rise in March. An absence of additional UK data will limit Pound movement today, but fluctuations could occur in response to news from the Eurozone and US.

US Dollar
USD/JPY – Trading Lower
On Friday lower-than-expected US GDP figures caused the ‘Greenback’ to decline against several of its most traded peers. The safe-haven currency’s bearish relationship with its rivals continued this morning ahead of the release of US consumer spending data, which is forecast to show stagnation. Losses against the Japanese Yen were exacerbated as the safe-haven asset was boosted by a Chinese report detailing slowing profit growth in industrial companies.

Euro
EUR/GBP – Trading Lower
The Euro slipped against the Pound for a sixth consecutive day this morning as the British currency was boosted by another piece of positive economic data. Recent news from the Eurozone has increased the odds of the European Central Bank cutting borrowing costs when it meets on Thursday. This afternoon’s German CPI figures are likely to be the most significant cause of Euro volatility in the hours ahead.

Australian Dollar
AUD/USD– Trading Higher
After gaining on a broadly softening US Dollar on Friday, following the release of US GDP data, the ‘Aussie’ continues to trade in the region of 1.0331 against its American rival. Volatility in the currency could occur tomorrow in response to the release of an Australian Private Sector Credit report.

New Zealand Dollar
NZD/USD – Trading Higher
With New Zealand’s building permit figures, due for release at 23:45 GMT, expected to come in at a five-year high the ‘Kiwi’ advanced on several of its major currency rivals. Economists expect the report to show that housing approvals increased by 2 per cent last month. If this estimation proves accurate it will take building permits to the highest level achieved since 2008.

Canadian Dollar
CAD/USD – Trading Higher
Although the Canadian Dollar fluctuated after the US economy was shown to have expanded by less-than-predicted in the first quarter of the year, the ‘Loonie’ later strengthened against the ‘Greenback’. The Canadian Dollar’s gains were inspired by a rebound in commodities, notably the most significant rally in crude oil since June of last year.

Japanese Yen
JPY/USD – Trading Higher
After a Chinese report revealed that profit growth among industrial companies is slowing investors turned to safe-haven assets and the Yen broadly strengthened, achieving 97.8900 against the US Dollar. The Asian currency notably advanced on the higher risk assets of nations with strong trade links with China, including the Australian Dollar.

South African Rand
ZAR/USD – Trading Lower
Worse-than-anticipated US GDP figures caused the Rand to soften on Friday, however the commodity-driven currency strengthened moderately as the European session began this morning. Additional Rand movement could occur following the publication of Balance of Trade figures for South Africa at 13:00 GMT.

As of Monday, 29th April 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1829, GBP USD exchange rate was 1.5493, GBP AUD exchange rate was 1.4973, GBP NZD exchange rate was 1.8129, GBP CAD exchange rate was 1.5671, GBP CNY exchange rate was 9.5514, GBP JPY exchange rate was 151.6199, and GBP ZAR exchange rate was 13.9185.

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