‘Aussie’ trading near a three-year low against its US counterpart

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Pound Sterling

Last week’s statement from the Bank of England, which implied that the central bank could do more to support the UK economy, saw the Pound soften against its peers last week and hit multi-month lows against the US Dollar. The British currency was little changed this morning ahead of tomorrow’s influential UK industrial production report.

GBP/EUR is trading in the region of 1.1606 and GBP/USD is trading in the region of 1.4895

US Dollar

In the aftermath of last week’s better-than-expected US non-farm payrolls report the US Dollar advanced on the majority of its higher-risk rivals and hit a five-week high against safe-haven counterpart the Yen. The ‘Greenback’ is likely to remain supported prior to the publication of minutes from the most recent Federal Reserve policy meeting.

USD/GBP is trading in the region of 0.6715 and USD/EUR is trading in the region of 0.7793

Euro

Last week’s political turmoil in Portugal and the ongoing negotiations between Greece and the Troika caused the Euro to broadly soften. The common currency was little changed against the US Dollar and Pound prior to the release of investor confidence figures for the Eurozone and a German industrial production report. Today’s meeting of Eurozone finance ministers in Brussels is also likely to be a catalyst for movement.

EUR/GBP is trading in the region of 0.8618 and EUR/USD is trading in the region of 1.2833

Australian Dollar

With economists forecasting that this week’s Australian employment data will show that the nation’s labour market is stagnating, the ‘Aussie’ continues to trade within the region of a three-year low against its US counterpart. The South Pacific currency could experience volatility this week in response to influential data from China and the US.

AUD/GBP is trading in the region of 0.6083, AUD/EUR is trading in the region of 0.7058 and AUD/USD is trading in the region of 0.9061

New Zealand Dollar

The ‘Kiwi’ was able to record a modest gain against the US Dollar during the local session as house prices in New Zealand advanced in June. Later today (from 23:00 GMT) domestic data, including a business opinion survey, could see the New Zealand Dollar fluctuate further.

NZD/GBP is trading in the region of 0.5194, NZD/EUR is trading in the region of 0.6024 and NZD/USD is trading in the region of 0.7728

Canadian Dollar

As the price of crude oil slipped and US employment figures surpassed those for Canada, the ‘Loonie’ fell against several of its main currency rivals. Today’s Canadian future sales figures could inspire movement in the commodity-driven currency.

CAD/GBP is trading in the region of 0.6355, CAD/EUR is trading in the region of 0.7374 and CAD/USD is trading in the region of 0.9463

These exchange rates were correct as of 9:15 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.