Pound Sterling
While the Pound advanced to a two-week high against the Euro following the release of UK retail sales data, Sterling softened slightly before the close of European trading. The Pound edged away from recent highs as a BoE policy maker issued comments concerning raising interest rates from record lows. Tomorrow’s UK GDP data may trigger further Pound movement before the weekend.
GBP/EUR is trading in the region of 1.1969 and GBP/USD is trading in the region of 1.6349
US Dollar
Although a report showed that US initial jobless claims increased in the week ending December 14th, the US Dollar brushed a two-week high against the Euro. The ‘Greenback’ largely retained gains recorded in the aftermath of an FOMC announcing that stimulus would be trimmed by 10 billion Dollars.
USD/GBP is trading in the region of 0.6116 and USD/EUR is trading in the region of 0.7317
Euro
As EU finance ministers discussed the Eurozone’s banking union the Euro fluctuated against several of its most traded peers. The common currency was able to claw back losses against the Pound before the local session ended but remained at a multi-week low against the ‘Buck’.
EUR/GBP is trading in the region of 0.8354 and EUR/USD is trading in the region of 1.3660
Australian Dollar
While the surprising development in the US saw the ‘Aussie’ decline against the ‘Greenback’ the South Pacific currency strengthened against the New Zealand Dollar. The AUD/NZD pairing recovered losses in spite of a report detailing stronger than expected economic growth in the smaller nation. The ‘Aussie’ was little changed against the Euro.
AUD/GBP is trading in the region of 0.5408, AUD/EUR is trading in the region of 0.6474 and AUD/USD is trading in the region of 0.8842
New Zealand Dollar
Prior to the release of credit card spending data for New Zealand the ‘Kiwi’ was holding steady against peers like the Euro. While strong local growth data helped the New Zealand Dollar achieve gains overnight, advances proved short lived.
NZD/GBP is trading in the region of 0.4994, NZD/EUR is trading in the region of 0.5992 and NZD/USD is trading in the region of 0.8165
Canadian Dollar
The ‘Loonie’ was left trading close to a three-year low against the US Dollar in the aftermath of the FOMC decision. The Canadian Dollar was also softer against peers like the Euro as investors look ahead to tomorrow’s domestic inflation data.
CAD/GBP is trading in the region of 0.5722, CAD/EUR is trading in the region of 0.6849 and CAD/USD is trading in the region of 0.9352