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Pound Australian Dollar (GBP/AUD) & New Zealand Dollar (GBP/NZD) Exchange Rates Climb; CAD Forecast

April 17, 2014 - Written by Minesh Chaudhari

The high yielders endured a poor day on the markets yesterday with the Pound to Australian Dollar exchange rate and Pound to New Zealand Dollar exchange rate climbing to as high as 1.7993 GBP/AUD and 1.9561 GBP/NZD respectively.

The current Pound Australian Dollar exchange rate is trading up +0.28% at 1.79777 GBP/AUD and Pound New Zealand Dollar exchange rate is trading up +0.2% at 1.95076 GBP/NZD.

Meanwhile, the commodity-driven Pound Canadian Dollar exchange rate jumped to 1.8530 GBP/CAD. The shift lower for these risk-driven tenders was fuelled by market jitters over the situation in Eastern Ukraine, where Kiev has deployed troops in an effort to quell anti-government protestors. The West views these agitators as having the backing of Moscow – an assessment which Russian policymakers vehemently deny. Either way, the situation remain s a tinderbox and any escalation of tensions into an all-out civil war, in a nation which sits on the doorstep of the European Union, would be sure to sap risk sentiment from the market, sending the GBP AUD, GBP NZD and GBP CAD exchange rates sharply higher.

The Pound Canadian Dollar exchange rate will be afforded further near-term direction this afternoon with the publication of domestic Consumer Price Index inflation numbers for March. Analysts are anticipating that the figures will point to a slight increase in the rate of Canadian price rises from February’s year-on-year showing of 1.1%. With expectations relatively elevated, the Canadian unit could be set for a fall. If such a situation does occur, then look for the Pound Canadian Dollar exchange rate to climb towards its multi-year high of 1.8671 GBP/CAD which it last touched on 21st February of this year.

Other highlights for today include weekly US jobs numbers , due for publication at the same time as the Canadian inflation data, and the Philadelphia Fed survey, also in the US. Analysts will be taking a view on the relative strength of the American numbers in an attempt to assess the likely direction of the US Federal Reserve’s monetary policy decisions for the remainder of 2014. Look for strong numbers to trigger a recovery for the Buck.

Reference Pound Sterling Exchange Rates History (Yesterday's close: 16/04/2014)



Yesterday's exchange rates saw the Pound Australian Dollar exchange rate close at 1.79273 GBP/AUD, Pound Canadian Dollar exchange rate close at 1.85006 GBP/CAD, Pound Swiss Franc exchange rate close at 1.48116 GBP/CHF, Pound Euro exchange rate close at 1.21545 GBP/EUR, Pound New Zealand Dollar exchange rate close at 1.94694 GBP/NZD, Pound Turkish Lira exchange rate close at 3.58855 GBP/TRY, Pound US Dollar exchange rate close at 1.68023 GBP/USD, and the Pound South African Rand exchange rate close at 17.74156 GBP/ZAR.
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