The ‘Aussie’ rose yesterday

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Pound Sterling

The Pound gained slightly against the US Dollar this morning following yesterday’s declines. Sterling broadly softened yesterday after UK retail sales disappointed but rose above 1.53 US Dollars as the European session began. Movement in the British currency will be limited today as investors look ahead to next week’s volatile first quarter GDP figure.

The Pound is presently trading against the Euro in the region of 1.1748 and is trading against the US Dollar in the region of 1.5366

US Dollar

Yesterday saw the release of another piece of less-than-impressive US data, raising the odds of the Federal Reserve maintaining its present stimulus methods. This, along with a stock rally, pushed investors away from safe-haven assets and towards higher-yielding currencies. Consequently, the US Dollar extended recent declines against the Euro and fell against several of its other major rivals.

The US Dollar is presently trading against the Pound in the region of 0.6526 and is trading against the Euro in the region of 0.7649

Euro

The Euro posted gains against a broadly softening US Dollar following the release of weaker-than-anticipated US manufacturing data, and was little changed prior to the release of Eurozone current account data and German producer price figures. While the Eurozone’s current account increased by more than expected last month, German producer price inflation unexpectedly declined.

The Euro is presently trading against the Pound in the region of 0.8515 and is trading against the US Dollar in the region of 1.3072

Australian Dollar

The ‘Aussie’ rose yesterday following the publication of a positive Australian economic confidence survey and was able to rise slightly during local trade as risk-appetite returned to the market.  However, according to a statement issued by a representative of the International Monetary Fund, the Australian and New Zealand Dollars are roughly 10 per cent overvalued.

The Australian Dollar is presently trading against the Pound in the region of 0.6754, is trading against the Euro in the region of 0.7917 and is trading against the US Dollar in the region of 1.0337

New Zealand Dollar

With risk-aversion abating and investors turning to higher-yielding assets the ‘Kiwi’ recorded a modest gain against the US Dollar before the close of the Australasian session. Next week’s Chinese Flash Manufacturing PMI could trigger significant movement in the New Zealand Dollar.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5516, is trading against the Euro in the region of 0.6444 and is trading against the US Dollar in the region of 0.8464

Canadian Dollar

After Canada’s central bank cut its growth forecast for the nation from 2 per cent to 1.5 per cent the ‘Loonie’ slipped to a four-week low against the US Dollar. The commodity-driven currency has strengthened to 0.9770 this morning prior to the publication of volatile Canadian inflation data.

The Canadian Dollar is presently trading against the Pound in the region of 0.6365, is trading against the Euro in the region of 0.7477 and is trading against the US Dollar in the region of 0.9774

These exchange rates were correct as of 9:42 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.