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Euro Exchange Rate Daily Round-up: 16/10/13

Euro Exchange Rates

Pound Sterling

The Pound briefly hit a one-week high against the US Dollar and Euro before retreating as the US markets opened. Expectations that US policy makers will make a deal to end the ongoing uncertainty over the debt ceiling and federal government shutdown bolstered the ‘Greenback’ and increased demand for riskier assets.

Currently the Pound is trading in the region of 1.1809 against the Euro and 1.5904 against the US Dollar.

US Dollar

The ‘Greenback’ once again had a mixed session due to remaining under pressure ahead of the debt ceiling deadline on the 17th of October. The currency fell close to a two-week low against the Euro and softened against the Pound before recovering ground later in the session. Investors are taking a wait and see approach but many believe that a deal will be made which has supported the US currency. As the US markets opened the Dollar jumped higher against its peers on the hope of a deal.

Currently the US Dollar is trading in the region of 0.6256 against the Pound and 0.7388 against the Euro.

The Euro

The Euro had a mixed session against its peers. It spent most of the day little changed but fell against the Pound and US Dollar as the session progressed. Due to the uncertainty being created by the rapidly approaching US debt ceiling deadline the currency is likely to remain mixed before the midnight deadline in Washington DC.

Currently the Euro is trading in the region of 0.8476 against the British Pound and 1.3483 against the US Dollar.

Australian Dollar

The ‘Aussie’ is trading steadily against the US Dollar, hovering close to a four-month high as market attention focuses on growing fears of a potential debt default in the US. Against the Pound the ‘Aussie’ softened on expectations that today’s UK jobs data will show improvement.

Currently the Australian Dollar is trading in the region of 0.5963 against the Pound, 0.7042 against the Euro and 0.9532 against the US Dollar.

New Zealand Dollar

The ‘Kiwi’ strengthened to a one-month high against the US Dollar after data showed that inflation in New Zealand increased by its fastest pace in two years. The data increased expectations that the nation’s Central Bank will have to raise borrowing costs.

Currently the New Zealand Dollar is trading in the region of 0.8415 against the Pound, 0.6217 against the Euro and 0.8415 against the US Dollar.

Canadian Dollar

The ‘Loonie’ made gains against the Pound and US Dollar and firmed against the Euro as expectations grow that US Congressional leaders will agree to a deal to end the government shutdown, fuelling demand for riskier assets.

Currently the Canadian Dollar is trading in the region of 0.6035 against the Pound, 0.7127 against the Euro and 0.9646 against the US Dollar.