Exchange Rates Today: Pound Sterling To Euro (GBP EUR), US Dollar (USD), Australian (AUD) & New Zealand Dollars (NZD)

Published: 18 Mar 2014 21:45

The Pound Euro exchange rate (GBP/EUR) increased during the morning trading session. The increase in value occurred despite a poor ZEW Economic Sentiment Survey result showing that the index had fallen by 9.1 points in March to 46.6 from a figure of 55.7 in February. In addition the Euro Zone Economic Sentiment figure dropped from 68.5 in February to 61.5 in March. The upside for the Euro underlines that the market considers Sterling to be fairly valued at the present pricing and few long sterling positions are being placed in the market.

The Pound US Dollar exchange rate (GBP/USD) on the back of mixed data from the US. Consumer Prices were seen to rise 1.1% in February on an annualised basis, falling short of analysts’ forecasts of 1.2%. Other economic data saw Building Permit levels increase and Housing Starts were also up but fell slightly short of the expected level of 910,000, instead coming in at 907,000.

The Pound Australian Dollar exchange rate (GBP/AUD) performed well on the back of comments from the Reserve Bank of Australia (RBA) which indicated that no further cuts to the base rate of interest (2.5%)would be made. Since the RBA have continually placed downward pressure on the Aussie Dollar price, the market has long been cautious of further cuts to the interest rate. This announcement may herald a period of Australian Dollar strength.

The Pound New Zealand Dollar exchange rate (GBP/NZD) also outperformed on the back of the RBA reiteration of its intention to keep the base rate of interest at 2.5%. Further positive Australian news such as the highest employment growth in the last 2 decades has seen a knock on effect on the Kiwi Dollar. As the perception that the risk of contagion from the Crimean Crisis and from China is reducing the Kiwi is expected to experience some upside from here.

Key Pound Sterling Exchange Rates (Publish: 17:00 GMT 18/03/2014)

The Pound Sterling to Australian Dollar exchange rate is trading down -0.88% at 1.81536 GBP/AUD.

The Pound Sterling to Canadian Dollar exchange rate is trading down -0.17% at 1.83697 GBP/CAD.

The Pound Sterling to Swiss Franc exchange rate is trading down -0.28% at 1.44926 GBP/CHF.

The Pound Sterling to Chinese Yuan exchange rate is trading down -0.15% at 10.26258 GBP/CNY.

The Pound Sterling to Euro exchange rate is trading down -0.28% at 1.19140 GBP/EUR.

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The Pound Sterling to Hong Kong Dollar exchange rate is trading down -0.37% at 12.87262 GBP/HKD.

The Pound Sterling to New Zealand Dollar exchange rate is trading down -1.22% at 1.91966 GBP/NZD.

The Pound Sterling to Turkish Lira exchange rate is trading down -0.49% at 3.67572 GBP/TRY.

The Pound Sterling to US Dollar exchange rate is trading down -0.38% at 1.65738 GBP/USD.

The Pound Sterling to South African Rand exchange rate is trading down -0.45% at 17.80808 GBP/ZAR.

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