USD/JPY Declines as Asian shares advance

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Pound Sterling

Although a report published this morning showed that UK house prices rose by 0.5 per cent in October, the Pound was little changed against the Euro and US Dollar as European trading progressed. However, the British asset could experience movement if UK CBI reported sales data surprises expectations.

GBP/EUR is trading in the region of 1.1728 and GBP/USD is trading in the region of 1.6199

US Dollar

While the ‘Greenback’ strengthened against the Yen as the Bank of Japan’s deputy Governor confirmed that the central bank remains committed to its accommodative policy, the US Dollar lost ground against Sterling and the Euro as investors look ahead to this week’s US retail sales report. The sales data is forecast to show stagnation, the worst result in six months.

USD/GBP is trading in the region of 0.6175 and USD/EUR is trading in the region of 0.7240

Euro

The Euro begins the week trading close to a two-year high against the US Dollar and little changed against the Pound. While Eurozone news is a bit thin on the ground today, with several influential reports due for publication in the days ahead (including unemployment figures and confidence surveys) Euro volatility can be expected.

EUR/GBP is trading in the region of 0.8526 and EUR/USD is trading in the region of 1.3810

Australian Dollar

As Asian shares advanced the ‘Aussie’ climbed, strengthening against peers like the US Dollar and Yen. The Australian Dollar was supported by the weekend’s positive industrial profits report for China and the expectation that data due out later this week will show that China’s manufacturing sector expanded at the most rapid rate for 18 months.

AUD/GBP is trading in the region of 0.5934, AUD/EUR is trading in the region of 0.6955 and AUD/USD is trading in the region of 0.9597

New Zealand Dollar

While the ‘Kiwi’ strengthened against its peers ahead of this week’s manufacturing PMI report for China, the New Zealand asset is likely to experience significant movement as the week progresses and the Reserve Bank of New Zealand issues its rate decision on the 30th.

NZD/GBP is trading in the region of 0.5133, NZD/EUR is trading in the region of 0.6000 and NZD/USD is trading in the region of 0.8308

Canadian Dollar

After ending the week trapped in a bearish relationship with the US Dollar, the ‘Loonie’ opened European trading slightly stronger against its neighbouring currency. With Canadian data lacking today, US news is likely to be the main cause of further ‘Loonie’ movement.

CAD/GBP is trading in the region of 0.5913, CAD/EUR is trading in the region of 0.6933 and CAD/USD is trading in the region of 0.9578

These exchange rates were correct as of 9:25 am

Laura Barrett
This post was written by
Laura moved from the US to the UK several years ago. As a corporate sales executive for a leading foreign exchange company, Laura has expert knowledge of currency movements and market trends and is able to offer specialist guidance regarding making a trade at the most lucrative time and protecting transactions from currency risk.