The Pound began the session little moved against its peers due to a subdued trading session. However as the day wore on the currency began to slide against the Euro and a number of other peers as investors settled into a wait and see approach ahead of the release of data on Tuesday and as Bank of England governor Mark Carney prepares to unveil his economic projections at his second inflation report on Wednesday.
Currently the Pound is trading in the region of 1.1968 against the Euro and 1.6019 against the US Dollar.
The ‘Greenback’ fell against the Euro due the US markets were closed for the Veterans Day holiday and taking a break following last week’s strong rally as a result of better than expected jobs data. The currency remained supported by the data and as investors increased their bets that the Federal Reserve could choose to taper its monetary easing programme by as soon as December.
Currently the US Dollar is trading in the region of 0.6242 against the Pound and 0.7471 against the Euro.
The Euro rallied against most of its peers in Monday’s session after speculation grew that the currency’s recent declines were exaggerated. The Euro was also supported from news from Greece and benefitted from a decline in emerging currencies in Asia. The Greek Prime Minister Antonis Samaras survived a vote of confidence, easing some nerves amongst investors and the Asian currency’s fell in the aftermath of Typhoon Haiyan.
Currently the Euro is trading in the region of 0.8355 against the Pound and 1.3384 against the US Dollar.
The ‘Aussie’ retreated against the Euro as investors deemed the single currency’s decline to have been excessive. The currency was also under pressure from increased speculation that the US Federal Reserve could taper its monetary easing programme in December, a move that would weaken commodity and emerging market economies.
Currently the Australian Dollar is trading in the region of 0.5851 against the Pound, 0.7003 against the Euro and 0.9373 against the US Dollar.
The ‘Loonie’ strengthened against the majority of its most traded peers but softened against the Euro as it was sent higher as a result of last week’s positive economic data releases for Canada. In a slow day for economic data releases investors are looking ahead to reports set for release later in the week in order to find guidance.
Currently the Canadian Dollar is trading in the region of 0.5961 against the Pound, 0.7134 against the Euro and 0.9549 against the US Dollar.