The Euro climbed to a seven-week high

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Pound Sterling

Sterling lost ground against the Euro this morning as investors await the publication of minutes from the Bank of England’s latest policy meeting and UK employment figures. The Pound is likely to experience notable movement in the aftermath of these data releases.

The Pound is presently trading against the Euro in the region of 1.1641 and is trading against the US Dollar in the region of 1.5325

US Dollar

With investors starting to turn back to riskier assets, the safe-haven ‘Greenback’ fell against the majority of its most traded peers, notably dropping by 1.1 per cent against the Euro. The publication of the Fed’s Beige Book, at 19:00 GMT, could cause additional fluctuations in the US Dollar.

The US Dollar is presently trading against the Pound in the region of 0.6517 and is trading against the Euro in the region of 0.7587

Euro

The Euro climbed to a seven-week high against safe-haven counterpart the US Dollar during local trade as commodity prices rose and risk appetite returned to the market. The common currency could see further gains if this morning’s construction output figures for the Eurozone pleasantly surprise.

The Euro is presently trading against the Pound in the region of 0.8585 and is trading against the US Dollar in the region of 1.3154

Australian Dollar

As gold prices rose commodity-driven currencies, like the Australian Dollar, strengthened. The ‘Aussie’ gained on several of its most traded peers, but slipped slightly against the US Dollar this morning as investor’s commodity-based concerns continued. Volatility can be expected ahead of tomorrow’s publication of Australian business confidence figures and Chinese property price data.

The Australian Dollar is presently trading against the Pound in the region of 0.6757, is trading against the Euro in the region of 0.7865 and is trading against the US Dollar in the region of 1.0365

New Zealand Dollar

With New Zealand’s inflation data meeting economist expectations and commodities rebounding, the ‘Kiwi’ was able to record notable gains against its safe-haven rivals the US Dollar and Japanese Yen. The New Zealand Dollar advanced by 1 per cent against the ‘Greenback’ and 1.8 per cent against a broadly softening Yen.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5529, is trading against the Euro in the region of 0.6429 and is trading against the US Dollar in the region of 0.8462

Canadian Dollar

The ‘Loonie’s climb against the US Dollar continued yesterday as rising commodities and positive Canadian data supported the currency. Canadian manufacturing sales were shown to have increased by the most since mid-2011, helping the nation’s Dollar gain by 0.47 of a cent. Volatility can be expected ahead of the Bank of Canada’s rate decision.

The Canadian Dollar is presently trading against the Pound in the region of 0.6373, is trading against the Euro in the region of 0.7418 and is trading against the US Dollar in the region of 0.9760

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.