The Pound was little moved against the Pound on Monday in a session that saw no UK data releases and only a few minor Eurozone related ones. The biggest piece of news came from Germany where data showed that industrial production in Europe’s biggest economy fell unexpectedly in October adding to concerns that the Eurozone’s feeble recovery is uneven. The Pound could see some volatility later tonight as BoE governor gives a speech in New York. Investors will be looking to see whether Carney will offer any clues to the Bank’s future policy decisions.
Currently the Pound is trading in the region of 1.1941 against the Euro and 1.3720 against the US Dollar.
The ‘Greenback’ was little moved against the Euro and Pound in a day that saw relatively light movement of the currencies. Due to a lack of important economic data the US Dollar wa softer as a result of increased demand for riskier assets in the wake of last week’s better than forecast jobs data.
Currently the US Dollar is trading in the region of 0.6102 against the Pound and 0.7287 against the Euro.
The Euro was trading close to a six-week high against the US Dollar but was softer against the Pound in a day of relatively light trading. No major data releases were released save for the publication of data which weighed upon the Euro. German industrial production fell unexpectedly in October putting some pressure on the currency.
Currently the Euro is trading in the region of 0.8374 against the Pound and 1.3721 against the US Dollar.
The ‘Aussie’ snapped a two-day gain against the US Dollar and continued its fall against the Pound as investors increased their bets that the Australian economy will lag behind the US and UK. The Reserve Bank of Australia is expected to continue talking down the currency which is putting pressure on the ‘Aussie’.
Currently the Australian Dollar is trading in the region of 0.5548 against the Pound, 0.6625 against the Euro and 0.9091 against the US Dollar.
The Canadian Dollar weakened against the Euro, Pound and US Dollar due to the odds of the Federal Reserve opting to taper stimulus in December rising with every piece of positive US data. As a result the appeal of higher-risk assets like the Canadian Dollar lessened and the currency weakened against its main rivals.
Currently the Canadian Dollar is trading in the region of 0.5729 against the Pound, 0.6841 against the Euro and 0.9388 against the US Dollar.