Fuelled by a return to “risk-on” amid easing geopolitical tensions and ahead of a crucial employment report, the Australian dollar rose broadly and was the currency world’s best performer yesterday.
Notable exchange rates include AUD/NZD, which rallied to a fifteen-week high of N$1.087, and AUD/GBP, which rallied to a four-and-a-half-month high of £0.616.
A notable emerging market rate, AUD/PHP, rose yesterday to ₱40.75 – a high not seen since 2014. View article >
EURUSD traded sideways, but well-above yesterday’s in the 1.1735 area until the European session opened. Seasonally-adjusted, Eurozone Q2 GDP posted a 2.2% gain, topping the 2.1% that was predicted. Eurozone nations also recorded better than expected GDP data, suggesting that the recovery is improving and is broad based.
EURUSD bounced between 1.1692 and 1.1757 on the news and is currently trading at 1.1708 in New York. View article >
The Pound (GBP) plummeted against the majority of its peers on Tuesday as the ONS reported that the UK’s inflation rate remained flat in July.
Markets reacted poorly to the news as they believe the Bank of England (BoE) will see it as a signal to delay any plans for a rate hike in the near future. View article >
The yen fell by nearly a percent yesterday against the US dollar – its biggest one-day fall in six weeks – as investors regained their appetite for risk amid an easing of the tense situation surrounding North Korea.
The yen, which has long been considered the FX world’s premier safe haven, typically falls in value against other currencies during periods of geopolitical stability and rises with uncertainty. View article >
The US dollar opened in New York on a firm footing. The greenback scratched out added gains against the majors, except for the Swiss franc.
Sterling was lively albeit in thin markets due to a series of Assumption Day holidays throughout the Eurozone.
GBPUSD traded with a negative bias in Asia and bias proved fortuitous during the European session. New York traders were just settling in when the UK released Retail Sales, PPI and CPI. View article >
The Pound (GBP) is trading robustly against the majority of its peers this morning as the UK government outlined its plans to seek an ‘ambitious new customs arrangement’ with the EU after Brexit.
While it is unclear whether EU officials are likely to be accepting of such a deal, markets reacted positively on hopes that the government is prepared to soften its approach to Brexit. View article >
HSBC and Morgan Stanley are in agreement: The euro will rally to reach parity (1.0) with the British pound within the next 4-8 months.
This consensus has been formed after Morgan Stanley this week released their latest forecasts which show EUR/GBP at 1.02 by the end of March next year. HSBC had already publicly forecast a rate of 1.0 by year-end. View article >
“Let’s calm down,” said the governor of the Philippines’ central bank on Sunday as he sought to settle investor nerves following a fall in the Philippine peso to an eleven-year low against the dollar.
The peso fell on Friday to 51.14 against USD – a valuation not seen since August 2006 – and has fallen again on Monday to 51.29.
The peso remains Asia’s worst performing currency in 2017 and, together with the Hong Kong dollar, is one of only two of the twelve most actively traded Asian currencies to post a loss against USD this year, which is saying a great deal given the difficult time the American currency is having. View article >
BestExchangeRates.com is an information only service. By browsing on the website, using our comparison tools or FX provider referral service, you are asking BestExchangeRates to
provide you with information about currency exchange products & services from multiple financial institutions.
We will try to show you a
range of products & services in response to your request for information. The search results do not include all providers and may
not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to
you about a particular product.
If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with BestExchangeRates.
BestExchangeRates may receive fees or other benefits in relation to activity on the BestExchangeRates website.
BestExchangeRates may receive remuneration for vendor referral links. Please note that the opinions of our authors are their own
and do not reflect the opinion of BestExchangeRates and should not be taken as a reference to buy or sell any financial product.
Any redistribution or reproduction of part or all of the contents in any form is prohibited other than the following. You may print or download contents to a local hard disk for your personal and non-commercial use only. You may copy some extracts only to individual third parties for their personal use, but only if you acknowledge the website as the source of the material.
You may not, except with our express written permission, distribute or commercially exploit the content. You may not transmit it or store it on any other website or other form of electronic retrieval system.
For more details or request distribution right please contacxt us here.