The Euro hit a three-month high against the US Dollar

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Pound Sterling

As President Obama diffused Syria tensions and investors awaited the publication of UK employment figures the Pound was holding steady against the US Dollar and remained close to a 7-month high against the Euro. If UK employment improves as expected Sterling could advance on its peers.

GBP/EUR is trading in the region of 1.1862 and GBP/USD is trading in the region of 1.5728

US Dollar

After declining against its higher-risk rivals following President Obama’s asking that the process of authorising military strikes on Syria be halted for the time being, the US Dollar recovered some ground as the European session opened. With the President of the Federal Reserve Bank of New York due to speak tomorrow, speculation surrounding the likelihood of the Fed tapering stimulus this month is increasing and the ‘Greenback’ is being boosted as a result.

USD/GBP is trading in the region of 0.6359 and USD/EUR is trading in the region of 0.7540

Euro

Although the Euro hit a three-month high against the US Dollar yesterday, the common currency has softened against its North American peer today as Fed speculation dominates the market once more. The Euro experienced minimal movement following the release of a report showing that German CPI held in August, as expected by economists.

EUR/GBP is trading in the region of 0.8431 and EUR/USD is trading in the region of 1.3261

Australian Dollar

Hopes that a military strike on Syria might be averted helped support higher-risk assets like the ‘Aussie’ overnight, and the South Pacific currency was trading within touching distance of its highest level against the US Dollar since July. The Australian Dollar was also bolstered by the news that the Australian Westpac Consumer Confidence Index advanced by 4.7 per cent in September.

AUD/GBP is trading in the region of 0.5910, AUD/EUR is trading in the region of 0.7012 and AUD/USD is trading in the region of 0.9280

New Zealand Dollar

After achieving a three-week high against the US Dollar the ‘Kiwi’ softened against its major currency rival overnight to trade in the region of 80.56. The New Zealand Dollar also lost ground against a broadly strengthening ‘Aussie’ and pared some of its recent gain against the Yen ahead of the Reserve Bank of New Zealand’s rate decision.

NZD/GBP is trading in the region of 0.5118, NZD/EUR is trading in the region of 0.6069 and NZD/USD is trading in the region of 0.8044

Canadian Dollar

Although a report published yesterday showed a larger-than-forecast decline in Canadian housing starts, the commodity-driven asset was supported by developments in the Syria crisis and continued to trade higher against the US Dollar.

CAD/GBP is trading in the region of 0.6141, CAD/EUR is trading in the region of 0.7286 and CAD/USD is trading in the region of 0.9661

These exchange rates were correct as of 09:25 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.