‘Aussie’ closes on a two-month high against the US Dollar

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Pound Sterling

With economists predicting that this morning’s CBI reported sales figures for the UK will show an increase in retail sales the Pound was able to trade in the region of a four-week high against the US Dollar. The British currency is also close to a six-week high against a broadly weaker Euro.

The Pound is presently trading against the Euro in the region of 1.1814 and is trading against the US Dollar in the region of 1.5189

US Dollar

After the Dutch Finance Minister remarked that the steps taken by Cyprus to secure a bailout deal could be applied to other nations risk appetite dwindled, and the safe-haven US Dollar gained on several of its riskier peers. This afternoon’s US consumer confidence figures could trigger additional ‘Greenback’ movement in the hours ahead.

The US Dollar is presently trading against the Pound in the region of 0.6586 and is trading against the Euro in the region of 0.7778

Euro

The Euro slumped against the majority of its currency rivals yesterday as investors became concerned that the Cyprus situation could extend, affecting other nations within the currency bloc. The common currency fell close to a four-month low against the US Dollar and a six-week low against the British Pound.

The Euro is presently trading against the Pound in the region of 0.8469 and is trading against the US Dollar in the region of 1.2861

Australian Dollar

The lowering odds of the Reserve Bank of Australia cutting rates when it meets next month helped push the ‘Aussie’ close to a two-month high against the US Dollar yesterday. The South Pacific currency could experience movement later in the week in reaction to Australian private sector credit figures.

The Australian Dollar is presently trading against the Pound in the region of 0.6899, is trading against the Euro in the region of 0.8144 and is trading against the US Dollar in the region of 1.0474

New Zealand Dollar

The ‘Kiwi’ experienced little movement against its American counterpart after New Zealand’s statistics office reported an unexpected trade surplus in February. Although economists had predicted a trade deficit, advances in the New Zealand Dollar were restrained as investors sought out safe-haven assets in the wake of Eurozone concerns.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5504, is trading against the Euro in the region of 0.6491 and is trading against the US Dollar in the region of 0.8358

Canadian Dollar

As crude oil approached a month-high the commodity-driven Canadian Dollar also rose. However, the ‘Loonie’s gains against the US Dollar were trimmed as trade continued and risk-aversion seeped back into the market.

The Canadian Dollar is presently trading against the Pound in the region of 0.6455, is trading against the Euro in the region of 0.7617 and is trading against the US Dollar in the region of 0.9805

These exchange rates were correct as of 9:27 am

Richard Martin
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After working in business development for a major UK currency brokers for several years, Richard left Britain to help set up the company’s Australian office and now lives and works in Queensland; making the most of his new Down-Under lifestyle.