The Pound achieved a 12-week high against the US Dollar

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Pound Sterling

Positive comments from the UK Chancellor of the Exchequer and encouraging Syrian developments saw the Pound achieve a 12-week high against the US Dollar overnight. Sterling also continues to trade close to a 7-month high against the Euro as investors look ahead to tomorrow’s employment figures.

GBP/EUR is trading in the region of 1.1843 and GBP/USD is trading in the region of 1.5693

US Dollar

For a second day the US Dollar lost ground against several of its most traded rivals as the likelihood of a US strike on Syria declined and safe-haven currencies lost their appeal. In a light news day ‘Greenback’ movement may be limited, but any developments in the Syria situation will be of interest.

USD/GBP is trading in the region of 0.6374 and USD/EUR is trading in the region of 0.7545

Euro

Ahead of the publication of Italian GDP figures the Euro was trading close to a seven-month low against the Pound. However, the common currency was able to advance on a broadly softening US Dollar as investors turned to higher risk assets in the wake of a potential solution to the Syria crisis.

EUR/GBP is trading in the region of 0.8445 and EUR/USD is trading in the region of 1.3254

Australian Dollar

With a gauge of Australian business confidence advancing and a better-than-expected increase in retail sales and factory production for China boosting Australia’s outlook the ‘Aussie’ strengthened against its main peers. The South Pacific asset briefly rallied to 92.90 before a downward correction saw it trading in the region of 92.77.

AUD/GBP is trading in the region of 0.5894, AUD/EUR is trading in the region of 0.6988 and AUD/USD is trading in the region of 0.9248

New Zealand Dollar

A bigger-than-forecast increase in New Zealand’s card spending figures, coupled with some positive data from China, helped the ‘Kiwi’ achieve 80.61 against the ‘Greenback’. The New Zealand Dollar also advanced on the Pound and Euro.

NZD/GBP is trading in the region of 0.5108, NZD/EUR is trading in the region of 0.6064 and NZD/USD is trading in the region of 0.8017

Canadian Dollar

Following the publication of a stronger-than-anticipated domestic building permits report the Canadian Dollar enjoyed a bullish relationship with its US counterpart, climbing to a three-week high. If today’s housing starts figure also surprises to the upside the ‘Loonie’ could extend gains.

CAD/GBP is trading in the region of 0.6147, CAD/EUR is trading in the region of 0.7280 and CAD/USD is trading in the region of 0.9647

These exchange rates were correct as of 08:55 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.