After dropping to a three-week low against the Euro yesterday as a stream of disappointing UK data damaged the nation’s third-quarter growth prospects, the Pound was little changed this morning ahead of the Bank of England’s rate decision. The British asset also weakened against the US Dollar as the ‘Greenback’ was boosted by domestic political news.
GBP/EUR is trading in the region of 1.1805 and GBP/USD is trading in the region of 1.5932
Hopes that US lawmakers are closing in on a compromise which would bring an end to the shutdown and prevent a much feared default supported the US Dollar overnight and helped the safe-haven asset recover ground against the majority of its most traded peers. If government is reopened today US data, including initial jobless claims, can finally be published – a fact which is likely to inspire additional ‘Greenback’ volatility.
USD/GBP is trading in the region of 0.6276 and USD/EUR is trading in the region of 0.7406
A strong industrial production report for Germany pushed the Euro to a multi-week high against the Pound and saw it strengthen against several of its other main peers. The common currency was holding steady this morning prior to the publication of minutes from the European Central Bank’s policy meeting.
EUR/GBP is trading in the region of 0.8470 and EUR/USD is trading in the region of 1.3499
Although Australia’s unemployment rate fell unexpectedly in September, the nation’s economy added fewer positions than expected while the participation rate slipped to an almost seven-year low. The ‘Aussie’ consequently declined against its US counterpart and softened against several of its other main peers.
AUD/GBP is trading in the region of 0.5916, AUD/EUR is trading in the region of 0.6977 and AUD/USD is trading in the region of 0.9413
New Zealand Dollar
With New Zealand’s performance of manufacturing index dropping from a negatively revised 57.1 to 54.3 in September and higher-risk assets losing their allure in the face of potential political resolution in the US, the ‘Kiwi’ modestly declined against the majority of its most traded peers during the local session.
NZD/GBP is trading in the region of 0.5174, NZD/EUR is trading in the region of 0.6147 and NZD/USD is trading in the region of 0.8241
After extending declines against its US rival as the North American session opened and the price of crude oil dipped, the ‘Loonie’ proved unable to claw back losses in spite of the prospect of political resolution in the US brightening domestic growth prospects.
CAD/GBP is trading in the region of 0.6037, CAD/EUR is trading in the region of 0.7126 and CAD/USD is trading in the region of 0.9609
These exchange rates were correct as of 09:30 am