Monday, February 17, 2014

Exchange Rates Outlook: Pound Sterling To Euro, US Dollar, Australian Dollar, Lira, Rand & New Zealand Dollar

Pound Sterling (currency:GBP) performed well on Friday versus the Euro (GBP/EUR) and the US Dollar (GBP/USD) pushing back up to resistance levels seen in recent weeks. The US Dollar (currency:USD) performed poorly mainly due to data prints published after midday which showed a potential slowdown in economic growth. Factory production was seen to drop in January – with many analysts pointing the finger at the poor winter weather disrupting production. 

Yesterday's exchange rates saw the Pound Australian Dollar exchange rate close at 1.85430 GBP/AUD, Pound Canadian Dollar exchange rate close at 1.82859 GBP/CAD, Pound Swiss Franc exchange rate close at 1.48831 GBP/CHF, Pound Euro exchange rate close at 1.21774 GBP/EUR, Pound New Zealand Dollar exchange rate close at 1.99603 GBP/NZD, Pound Turkish Lira exchange rate close at 3.63857 GBP/TRY, Pound US Dollar exchange rate close at 1.66568 GBP/USD, and the Pound South African Rand exchange rate close at 18.29786 GBP/ZAR. 

Pound Sterling was boosted by a strong construction output data release from the Office of National Statistics (ONS) showing a pick up in industry and providing evidence that the economic recovery is picking up. Construction Output increased by 2% in Q4 2013 from Q3 underlining strengthening demand and confidence in the economy. 

The Australian Dollar to US Dollar exchange rate (AUD/USD) picked up as data from China gave cause for optimism. A National Bureau of Statistics figure from the People’s Republic showed annual inflation (CPI) of 2.5%, leading to sentiment that economic production might also follow suit – leading to more exports from Australia of its raw material outputs to China. 

Asian currencies performed well during the full trading week, with the Federal Reserve tapering cuts less stringently than previously thought. 

Key Pound Sterling Exchange Rates As of: 20:30 GMT 14/02/2014)



The Pound Sterling to Australian Dollar exchange rate is trading down -0.04% at 1.85359 GBP/AUD. 

The Pound Sterling to Canadian Dollar exchange rate is trading up +0.56% at 1.83886 GBP/CAD. 

The Pound Sterling to Swiss Franc exchange rate is trading up +0.33% at 1.49326 GBP/CHF. 

The Pound Sterling to Euro exchange rate is trading up +0.38% at 1.22239 GBP/EUR. 

The Pound Sterling to New Zealand Dollar exchange rate is trading up +0.26% at 2.00112 GBP/NZD. 

The Pound Sterling to Turkish Lira exchange rate is trading up +0.39% at 3.65263 GBP/TRY. 

The Pound Sterling to US Dollar exchange rate is trading up +0.52% at 1.67442 GBP/USD. 

The Pound Sterling to South African Rand exchange rate is trading down -0.77% at 18.15775 GBP/ZAR. 
via:http://www.exchangerates.org.uk/news/8644/exchange-rates-outlook-pound-sterling-to-euro-us-dollar-australian-dollar-lirarand-new-zealand-dollar.html

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