Pound Fluctuates After GDP, Euro Holding Steady Before CPI

Published: 29 Apr at 11 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 1.6816
After UK growth data showed that the nation’s economy expanded by less-than-anticipated in the first quarter of 2014 the Pound edged lower against peers like the US Dollar and Euro. However, Sterling could recoup losses overnight if the UK GfK consumer confidence survey impresses.

US Dollar
USD/GBP – Trading in the Region of 0.5948
On Monday the ‘Greenback’ was supported by the news that US pending home sales advanced by more than expected in March, month-on-month. The safe-haven asset could strengthen further today if the gauge of US consumer confidence advances to 83 from 82.3.

Euro
EUR/USD – Trading in the Region of 1.3865
During European trading the Euro rallied against the majority of its currency counterparts as investors bet that the day’s German inflation figures would alleviate some of the Eurozone’s price concerns. The common currency remained higher against its rivals even as measures of economic confidence in the Eurozone declined.

Australian Dollar
AUD/USD – Trading in the Region of 0.9252
With the price of iron ore (a major Australian commodity) declining, the ‘Aussie’ slid against several of its most traded currency counterparts overnight.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8529
Although New Zealand’s trade data showed that the nation’s trade surplus widened in March, the ‘Kiwi’ weakened overnight as investors engaged in profit taking.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9104
With Ukraine tensions easing and a raft of influential economic reports due for publication later this week, the Canadian Dollar posted modest gains against several of its currency peers.

Japanese Yen
USD/JPY – Trading in the Region of 102.6100
Ahead of the Bank of Japan’s policy statement the Yen was little-changed against the US Dollar.

South African Rand
USD/ZAR – Trading in the Region of 10.5405
While emerging-market assets recovered some of their appeal as concern over the situation in Ukraine dimmed, the Rand remained weaker against the US Dollar as investors focused on this week’s main data.
As of Tuesday, 29th April 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2182, GBP USD exchange rate was 1.6824, GBP AUD exchange rate was 1.8152, GBP NZD exchange rate was 1.966, GBP CAD exchange rate was 1.8422, GBP JPY exchange rate was 172.6694, and GBP ZAR exchange rate was 17.7579.

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