Pound Close to Two-Week Low Against Euro

Post Date October 4th, 2013
Author
Category Currency News
TorFX

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Pound Sterling

Sterling softened by the most for two weeks against the Euro and declined against the Pound after less-than-impressive UK house price data and a slightly disappointing UK services PMI result. Although Lloyd’s employment confidence index for the UK climbed from -22 to -13 in September, Sterling movement is likely to be limited ahead of the weekend.

GBP/EUR is trading in the region of 1.1828 and GBP/USD is trading in the region of 1.6106

US Dollar

The ‘Greenback’ continues to trade lower against peers like the Euro and Pound as the Federal shutdown and the non-publication of US non-farm payrolls figures weighs heavily on the North American asset.

USD/GBP is trading in the region of 0.6204 and USD/EUR is trading in the region of 0.7344

Euro

Stronger-than-expected data for the Eurozone helped the Euro achieve a multi-month high against the US Dollar and a multi-week high against the Pound during the local session. The common currency extended gains as Portugal increased its growth forecast following a positive review from the Troika.

EUR/GBP is trading in the region of 0.8454 and EUR/USD is trading in the region of 1.3616

Australian Dollar

After feeling the pressure for much of the week as higher-risk assets were shunned in response to Federal shutdown fears, the Australian Dollar recouped losses during local trading. The South Pacific currency strengthened as investors lowered bets that the Reserve Bank of Australia will issue an additional rate increase before the end of the year.

AUD/GBP is trading in the region of 0.5846, AUD/EUR is trading in the region of 0.6927 and AUD/USD is trading in the region of 0.9431

New Zealand Dollar

The ‘Kiwi’ ended the Australasian session heading for a 0.6 per cent five-day gain against its broadly softening US rival. However, the New Zealand Dollar did retain declines against a bullish Pound.

NZD/GBP is trading in the region of 0.5148, NZD/EUR is trading in the region of 0.6096 and NZD/USD is trading in the region of 0.8296

Canadian Dollar

After being trapped in range-bound trading for much of the week the Canadian Dollar may finally experience some notable movement in the hours ahead as domestic Ivey PMI is released.

CAD/GBP is trading in the region of 0.6010, CAD/EUR is trading in the region of 0.7109 and CAD/USD is trading in the region of 0.9678

These exchange rates were correct as of 10:10 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.