‘Greenback’ strengthens against the Yen

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Pound Sterling

Sterling is likely to experience movement this morning following the release of 4Q GDP figures for the UK. Current Account and Total Business Investment data could also have an effect. If the British figures are worse than anticipated the Pound could pare recent gains and more away from the four and six week highs achieved against the US Dollar and Euro respectively.

The Pound is presently trading against the Euro in the region of 1.1821 and is trading against the US Dollar in the region of 1.5167

US Dollar

The ‘Greenback’ has strengthened against the Yen this morning as speculation regarding the extent of easing the Bank of Japan intends to sanction mounts. The US Dollar also gained on its European cousin as additional concerns for the Eurozone’s economic stability saw the Euro broadly decline. US Pending Home Sales data will be of particular interest today.

The US Dollar is presently trading against the Pound in the region of 0.6594 and is trading against the Euro in the region of 0.7799

Euro

The Euro yo-yoed yesterday on the release of conflicting reports regarding the odds of the Cyprus solution being applied to other struggling nations. The common currency dropped to its lowest level for over four-months against the US Dollar this morning as investors brace themselves for business, industrial and consumer confidence figures for the currency bloc.

The Euro is presently trading against the Pound in the region of 0.8460 and is trading against the US Dollar in the region of 1.2832

Australian Dollar

With the Reserve Bank of Australia preparing to release its review of financial stability the ‘Aussie’ continued to trade in the region of a two-month high against the US Dollar. The South Pacific currency could experience volatility tomorrow following the publication of economic data from China – Australia’s largest trading partner.

The Australian Dollar is presently trading against the Pound in the region of 0.6910, is trading against the Euro in the region of 0.8160 and is trading against the US Dollar in the region of 1.0466

New Zealand Dollar

In spite of the market volatility triggered by Eurozone fears the ‘Kiwi’ was little altered against its American counterpart during local trade. The New Zealand Dollar was largely unaffected by a report showing a slight decline in business confidence within the nation.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5526, is trading against the Euro in the region of 0.6493 and is trading against the US Dollar in the region of 0.8377

Canadian Dollar

The ‘Loonie’ could experience significant movement this afternoon following the publication of the Bank of Canada’s Consumer Price Index. Although the currency has advanced on the US Dollar in recent days, largely as a result of oil hitting a month-high, if today’s figures disappoint the currency could pare these gains.

The Canadian Dollar is presently trading against the Pound in the region of 0.6491, is trading against the Euro in the region of 0.7670 and is trading against the US Dollar in the region of 0.9843

These exchange rates were correct as of 9:30 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.