Pound movement was limited

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Pound Sterling

Pound movement was limited yesterday due to a lack of influential UK news. The currency, which was little changed against its main rivals as European markets opened, could see modest fluctuations today following a UK bond sale of 1.6 billion Pounds of index linked gilts.

The Pound is presently trading against the Euro in the region of 1.1736 and is trading against the US Dollar in the region of 1.5354

US Dollar

The ‘Greenback’ experienced modest fluctuations during local trade after the earlier-than-scheduled publication of FOMC policy meeting minutes. The minutes highlighted a growing divide within the committee regarding the fiscal policy currently being deployed in the US. If today’s US initial jobless claims figures should disappoint the US Dollar could post losses against several of its peers.

The US Dollar is presently trading against the Pound in the region of 0.6516 and is trading against the Euro in the region of 0.7653

Euro

The Euro experienced minimal fluctuations this morning as German CPI figures were shown to be in line with economist estimations. The Euro achieved new highs against the Japanese Yen yesterday as the Bank of Japan’s fiscal policy continued to weigh on the Asian currency. Notable movement could occur tomorrow after Eurozone industrial production data is released.

The Euro is presently trading against the Pound in the region of 0.8516 and is trading against the US Dollar in the region of 1.3079

Australian Dollar

After the publication of a disappointing Australian employment report the ‘Aussie’ slid against several of its main peers, notably the ‘Kiwi’ and US Dollar. Tomorrow’s Australian credit card balances/purchases figures could be responsible for additional ‘Aussie’ movement.

The Australian Dollar is presently trading against the Pound in the region of 0.6876, is trading against the Euro in the region of 0.8045 and is trading against the US Dollar in the region of 1.0557

New Zealand Dollar

A poor Australian employment report weakened the ‘Aussie’ during local trade, allowing the ‘Kiwi’ to gain on its neighbouring currency. The New Zealand Dollar was also supported by positive New Zealand home price and manufacturing data.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5616, is trading against the Euro in the region of 0.6572 and is trading against the US Dollar in the region of 0.8622

Canadian Dollar

With the Bank of Japan’s decision to double easing increasing the appeal of commodity-driven currencies, the ‘Loonie’ recorded a slight advance against the US Dollar and leapt by 1 per cent against the Japanese Yen. This afternoon’s Canadian Housing Price Index is likely to cause further ‘Loonie’ movement in the hours ahead.

The Canadian Dollar is presently trading against the Pound in the region of 0.6429, is trading against the Euro in the region of 0.7545 and is trading against the US Dollar in the region of 0.9871

These exchange rates were correct as of 9:40 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.