Euro Exchange Rate News

Euro Exchange Rate Daily Round-up: 14/10/13

Pound Sterling

The Pound began Monday’s session at a six-week low against the Euro and close to a four-week low against the US Dollar. As the day progressed the Pound managed to regain some ground against the ‘Greenback’ as investors looked ahead to UK data releases which are expected to show that the UK economy is gaining momentum.

Currently the Pound is trading in the region of 1.1789 against the Euro and 1.5977 against the US Dollar.

US Dollar

The ‘Greenback’ spent the session weaker against the Euro and the Pound as the markets grew increasingly jittery as the impasse over the US budget and debt ceiling dragged on into a third week. With the October 17th debt ceiling deadline quickly approaching and no end to the stalemate in sight, investors turned to other currencies.

Currently the US Dollar is trading in the region of 0.6258 against the Pound and 0.7379 against the Euro.

The Euro

The Euro was stronger against the US Dollar as the government shutdown continued and as the debt ceiling deadline draws nearer. No sign of a resolution appears to be in sight and that weighed down the US currency. The single currency found support in the morning after data showed that industrial output hit a two-year high.

Currently the Euro is trading in the region of 0.8482 against the British Pound and 1.3551 against the US Dollar.

Australian Dollar

The ‘Aussie’ weakened against many of its peers as worries over the situation in the US caused investors to avoid the riskier commodity based currencies. Risk sentiment is low and demand for safe havens like the Yen and Swiss Franc are increasing. The market ignored the better-than-expected Consumer Price Index Data out of China.

Currently the Australian Dollar is trading in the region of 0.5922 against the Pound, 0.6982 against the Euro and 0.9463 against the US Dollar.

New Zealand Dollar

The ‘Kiwi’ is weaker against most of its peers due to the US impasse and as a result of light trading in some of the world’s major markets due to public holidays. The US, Japan and Hong Kong are all closed for various holidays.

Currently the New Zealand Dollar is trading in the region of 0.5232 against the Pound, 0.6169 against the Euro and 0.8360 against the US Dollar.

Canadian Dollar

The ‘Loonie’ was weaker against most of its peers as the uncertainty in the USA, Canada’s biggest trading partner rumbled on. During the European session the Canadian Dollar weakened further against the Pound as the British currency was supported by the expectation that this week’s UK employment, retail sales and inflation data will show improvement.

Currently the Canadian Dollar is trading in the region of 0.6043 against the Pound, 0.7125 against the Euro and 0.9655 against the US Dollar.

 

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