The Pound remains buoyed against peers

money_hong_kong_dollars

Pound Sterling

The Pound remains buoyed against peers including the US Dollar and Euro as investors await the publication of UK trade balance and construction output data. If today’s reports add to this week’s positive domestic news Sterling could post a significant 5-day gain against several of its rivals.

GBP/EUR is trading in the region of 1.1613 and GBP/USD is trading in the region of 1.5539

US Dollar

With risk-appetite bolstered by better-than-expected Chinese trade balance data and optimistic signs from the Eurozone the US Dollar ends the week softer against several of its currency counterparts. The main piece of US news scheduled for publication today is a US wholesale inventories report, due out at 15:00 GMT.

USD/GBP is trading in the region of 0.6435 and USD/EUR is trading in the region of 0.7475

Euro

After data showed that industrial output in France, the Eurozone’s second largest economy, unexpectedly slumped in June the Euro remained trading lower against the Pound and posted a modest decline against the US Dollar. UK and US developments could impact the Euro in the hours ahead.

EUR/GBP is trading in the region of 0.8610 and EUR/USD is trading in the region of 1.3378

Australian Dollar

In the wake of yesterday’s impressive trade data for China the ‘Aussie’ is in line to post its largest 5-day gain against the US Dollar for over 12 months. Further reports showed that industrial production in China gained by more than expected, lending the Australian Dollar additional support.

AUD/GBP is trading in the region of 0.5883, AUD/EUR is trading in the region of 0.6834 and AUD/USD is trading in the region of 0.9140

New Zealand Dollar

During Australasian trading further signs of positive economic progress in China helped the ‘Kiwi’ consolidate gains against its peers. The South-Pacific asset has strengthened by 2.3 per cent against the US Dollar in the past seven days.

NZD/GBP is trading in the region of 0.5154, NZD/EUR is trading in the region of 0.5975 and NZD/USD is trading in the region of 0.8015

Canadian Dollar

Although the Canadian Dollar dipped yesterday as commodity prices faltered, the currency rebounded as improving global economic optimism supported higher-risk assets. The ‘Loonie’ climbed by the most for a month prior to the publication of domestic employment data. Economists are expecting today’s report to show that the Canadian unemployment rate held at 7.1 per cent in July.

CAD/GBP is trading in the region of 0.6241, CAD/EUR is trading in the region of 0.7245 and CAD/USD is trading in the region of 0.9696

These exchange rates were correct as of 9:15 am

Richard Martin
This post was written by
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.