The US Dollar declined against peers like the Euro

foreign_exchange_rates

Pound Sterling

With Bank of England Governor Mark Carney due to testify to parliament’s Treasury Committee today, the Pound was trading in the region of a seven-month high against the US Dollar and was little changed against the Euro. Yesterday’s better-than-forecast domestic employment data continues to support Sterling, but today’s Eurozone and US reports could cause the British currency to fluctuate.

GBP/EUR is trading in the region of 1.1869 and GBP/USD is trading in the region of 1.5789

US Dollar

With the Federal Open Market Committee’s policy meeting less than a week away speculation regarding whether or not the Federal Reserve will taper stimulus is reaching fever pitch. Ahead of today’s influential US initial jobless claims report the US Dollar declined against peers like the Euro.

USD/GBP is trading in the region of 0.6331 and USD/EUR is trading in the region of 0.7517

Euro

As the European session opened the Euro was trading in the region of a month-high against the US Dollar. In the hours ahead common currency fluctuations could be sparked by the tone of the minutes from the latest European Central Bank rate decision.

EUR/GBP is trading in the region of 0.8424 and EUR/USD is trading in the region of 1.3306

Australian Dollar

A surprising drop in Australian employment saw the ‘Aussie’ broadly soften in Australasian trading. The South Pacific asset tumbled against peers like the US Dollar, shedding recent gains, as the nation’s unemployment rate hit a four-year high.

AUD/GBP is trading in the region of 0.5855, AUD/EUR is trading in the region of 0.6951 and AUD/USD is trading in the region of 0.9244

New Zealand Dollar

As the Reserve Bank of New Zealand issued a rather hawkish policy statement regarding the prospect of increasing interest rates in the near future the ‘Kiwi’ was bullish during the local session, advancing to a three-week high against the US Dollar.

NZD/GBP is trading in the region of 0.5150, NZD/EUR is trading in the region of 0.6095 and NZD/USD is trading in the region of 0.8133

Canadian Dollar

Several pieces of stronger-than-anticipated economic data for Canada have helped the ‘Loonie’ climb over the last few days. If today’s domestic new housing price index also shows improvement the Canadian Dollar’s upward trend could continue.

CAD/GBP is trading in the region of 0.6140, CAD/EUR is trading in the region of 0.7289 and CAD/USD is trading in the region of 0.9695

These exchange rates were correct as of 09:25 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.