The Pound is expected to experience fluctuations

uk_money

Pound Sterling

With UK employment figures and the Bank of England’s policy meeting minutes due for release today the Pound is expected to experience fluctuations. As the European session opened the British currency was little changed against the US Dollar but went on to soften slightly against a bolstered Euro.

GBP/EUR is trading in the region of 1.1639 and GBP/USD is trading in the region of 1.5446

US Dollar

Yesterday the ‘Greenback’ was able to advance on its higher-risk peers as a fourth monthly gain in US retail sales reignited speculation surrounding the Federal Reserve tapering stimulus in the months ahead. The US producer price index, due out at 13:30, is the North American news to look out for today.

USD/GBP is trading in the region of 0.6474 and USD/EUR is trading in the region of 0.7538

Euro

Data showing that the German and French economies expanded by more than anticipated in the second quarter boosted the Euro as local trade began. However, with Eurozone GDP figures still to be published, additional Euro movement is likely.

EUR/GBP is trading in the region of 0.8594 and EUR/USD is trading in the region of 1.3259

Australian Dollar

After a report showed that Australian wage growth stagnated at its slowest pace for over three years the ‘Aussie’ slipped against its peers. The South Pacific asset posted a notable decline against its New Zealand counterpart as the ‘Kiwi’ was supported by home-grown developments.

AUD/GBP is trading in the region of 0.5890, AUD/EUR is trading in the region of 0.6865 and AUD/USD is trading in the region of 0.9099

New Zealand Dollar

Stronger-than-anticipated domestic retail sales data helped the ‘Kiwi’ climb against all of its major currency rivals during Australasian trading. The positive result raised the odds of the Reserve Bank of New Zealand increasing rates.

NZD/GBP is trading in the region of 0.5168, NZD/EUR is trading in the region of 0.6005 and NZD/USD is trading in the region of 0.7984

Canadian Dollar

After the US Dollar was bolstered by optimistic retail sales figures the ‘Loonie’ softened against its North American rival. With pertinent Canadian economic news still lacking, fluctuations in the commodity-driven currency are most likely to occur in response to global developments.

CAD/GBP is trading in the region of 0.6252, CAD/EUR is trading in the region of 0.7277 and CAD/USD is trading in the region of 0.9655

These exchange rates were correct as of 9:10 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.