Pound Sterling
The Pound fell after new mortgage data came in below forecasts. A report by the British Banker’s Association said that the number of new mortgages approved in October fell to 42,800 from September’s revised total of 43,200, which was the highest since December 2009.
Currently the Pound is trading in the region of 1.1957 against the Euro and 1.6140 against the US Dollar.
US Dollar
The ‘Greenback’ made gains against the Euro and hit a six-month high against the Japanese Yen. Demand for the US currency continues to be supported by expectations that the Federal Reserve could begin tapering its monetary easing programme.
Currently the US Dollar is trading in the region of 0.6195 against the Pound and 0.7408 against the Euro.
The Euro
The Euro softened after European Central Bank governing council member Ardo Hansson said the bank is ready to make further cuts to interest rates and is “technically ready” to implement negative deposit rates.
Currently the Euro is trading in the region of 0.8362 against the Pound and 1.3497 against the US Dollar.
Australian Dollar
The ‘Aussie’ remained at a five-year low against its New Zealand relation and was weaker against most of its most traded peers. As the session progressed the currency managed to edge higher and reverse some losses as demand for riskier assets improved following a deal between world powers and Iran. The currency is expected to resume its downward trend tomorrow as the deputy governor of the Reserve Bank of Australia is expected to talk down the currency.
Currently the Australian Dollar is trading in the region of 0.5669 against the Pound, 0.6779 against the Euro and 0.9151 against the US Dollar.
Canadian Dollar
The ‘Loonie’ fell against its peers including the Euro after the price of oil fell following the signing of a deal between western powers and Iran. The deal eases sanctions that the market expects will see Iranian oil becoming available and forcing down prices.
Currently the Canadian Dollar is trading in the region of 0.5872 against the Pound, 0.7022 against the Euro and 0.9478 against the US Dollar.
