Pound Recovers, Euro Static, Aussie Ends Week Higher

Published: 30 May at 4 PM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Germany, Italy, Japan, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6752
The Pound posted modest gains on Friday as investors responded to surprisingly upbeat UK confidence and house price data. Sterling’s strength also came from the British Chamber of Commerce’s decision to up its UK growth forecasts.

US Dollar
USD/GBP – Trading in the Region of 0.5969
‘Greenback’ movement was a little stilted on Friday, although the disappointing University of Michigan Confidence index did have a small impact on the currency’s desirability. The index was expected to have risen from 81.8 to 82.5 but it only climbed to 81.9.

Euro
EUR/USD – Trading in the Region of 1.3622
With the ECB policy meeting looming, the Euro remains under pressure against several of its most traded currency counterparts. Losses also occurred on Friday following the release of less-than-impressive German retail sales and Italian inflation reports.

Australian Dollar
AUD/USD – Trading in the Region of 0.9295
The ‘Aussie’ was riding high at the close of the week as investors stuck with the currency in the wake of the capital expenditure report published on Thursday, which detailed a surprising level of investment in domestic manufacturing.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8482
An impressive increase in the level of building permits issued in New Zealand helped the ‘Kiwi’ strengthen against the US Dollar and Pound. Permits surged by 1.5 per cent in April on the month rather than declining by 3.5 per cent as expected.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9217
After holding steady for much of Friday the Canadian Dollar softened in response to lacklustre domestic growth figures. With the Bank of Canada due to deliver its rate decision next week further ‘Loonie’ movement is on the cards.

Japanese Yen
USD/JPY – Trading in the Region of 101.7800
The Yen’s recent rally began to lose momentum on Friday as investors began adjusting their positions ahead of next week’s highly influential central bank rate announcements.

South African Rand
USD/ZAR – Trading in the Region of 10.4210
After a bearish few days the Rand extended declines in response to domestic data showing a slowing in credit extension.

As of Friday, 30th May 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.229, GBP USD exchange rate was 1.6756, GBP AUD exchange rate was 1.8, GBP NZD exchange rate was 1.9714, GBP CAD exchange rate was 1.8171, GBP JPY exchange rate was 170.5204, and GBP ZAR exchange rate was 17.7189.

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