Euro losses could continue

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Pound Sterling

The Pound was able to rise from a six-week low against the Dollar this morning following the publication of a report showing an increase in the asking price of UK homes. Sterling was little changed against the Euro and a quite news day is likely to limit the currency’s fluctuations in the hours ahead.

GBP/EUR is trading in the region of 1.1826 and GBP/USD is trading in the region of 1.5206

US Dollar

As Japan’s Economy Minister issued a warning regarding the pitfalls of a weakening Yen the Asian currency climbed against the majority of its most traded peers, edging away from a near four-year low against the US Dollar. However, speculation that the Federal Reserve will soon begin to pare its current level of easing continues to support the ‘Greenback’ against its other main rivals.

USD/GBP is trading in the region of 0.6580 and USD/EUR is trading in the region of 0.7780

Euro

With investors betting that positive US data will encourage the Federal Reserve to bring its current level of asset purchases to a gradual end the Euro fell close to a six-week low against the US Dollar. Last week’s less-than-impressive GDP figures also continue to wear on the common currency, and any more concerning news could result in additional Euro losses.

EUR/GBP is trading in the region of 0.8456 and EUR/USD is trading in the region of 1.2863

Australian Dollar

After a technical indicator signalled that the ‘Aussie’ may be oversold the South Pacific currency was able to post a modest gain against its American counterpart. The release of minutes from the latest Reserve Bank of Australia policy meeting, which will occur tomorrow at 02:30 GMT, is likely to trigger significant Australian Dollar movement.

AUD/GBP is trading in the region of 0.6435, AUD/EUR is trading in the region of 0.7596 and AUD/USD is trading in the region of 0.9731

New Zealand Dollar

As New Zealand’s Finance Minister intimated that the nation’s central bank may be pressured into raising interest rates as a result of advancing home prices the ‘Kiwi’ gained against all of its most traded rivals, achieving 81.23 cents against the US Dollar. The Reserve Bank of New Zealand’s 2-year inflation expectation may be a catalyst for additional movement in the New Zealand Dollar tomorrow.

NZD/GBP is trading in the region of 0.5343, NZD/EUR is trading in the region of 0.6322 and NZD/USD is trading in the region of 0.8119

Canadian Dollar

As Canada’s inflation rate fell to its lowest level since 2009, significantly reducing the odds of an interest rate hike, the ‘Loonie’ posted widespread declines. The Canadian Dollar dropped from close to parity with the US Dollar to 0.9715 on Friday and could record further declines as the week progresses, particularly if Canada’s retail sales figures (due for publication on Wednesday) disappoint.

CAD/GBP is trading in the region of 0.6403, CAD/EUR is trading in the region of 0.7569 and CAD/USD is trading in the region of 0.9727

These exchange rates were correct as of 9:00 am

Laura Barrett
This post was written by
Laura moved from the US to the UK several years ago. As a corporate sales executive for a leading foreign exchange company, Laura has expert knowledge of currency movements and market trends and is able to offer specialist guidance regarding making a trade at the most lucrative time and protecting transactions from currency risk.