The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate has made little progress today; the same can also be said of the Pound’s faring against the New Zealand Dollar (GBP/NZD).
GBP/AUD, GBP/NZD Exchange Rate News: Removal of Stock Market Modifier sees so-so UK GDP Disappoint
The Pound Sterling (GBP) has had a more middling performance today than on Tuesday to Thursday, mostly on account of the world stock markets reaching a level of stability not seen since before ‘Black Monday’. While the UK Q2 GDP met with forecasts, it did not exceed them and for this reason the Pound has failed to garner a great deal of confidence from speculators.
The Pound has trended narrowly against the Australian Dollar (GBP/AUD) and the New Zealand Dollar (GBP/NZD) today. The worst losses have been by more than -0.4% against the Czech Koruna (GBP/CZK), the Romanian Leu (GBP/RON) and the Swiss Franc (GBP/CHF). The Pound’s gains were comprised of a 0.3% rise against the Singapore Dollar (GBP/SGD) and the South African Rand (GBP/ZAR) and a 0.7% advance against the Thai Baht (GBP/THB).
Antipodean Pair Dive against the Pound; China Closes Factory Doors (GBP/AUD), Milk Prices Curdle (GBP/NZD)
The Australian Dollar (AUD) and the New Zealand Dollar (NZD) have both fared poorly against the Pound (GBP) and other rivals today as the new stock market stability has deprived the two currencies of their prior advantages. The ‘Aussie’ fell by -0.2% against the Pound Sterling (AUD/GBP), trended narrowly against the New Zealand Dollar (AUD/NZD) and declined by -0.6% against the Euro (AUD/EUR) today. The New Zealand Dollar trended narrowly against the Australian Dollar (NZD/AUD) and the Pound Sterling (NZD/GBP) today and saw a loss of -0.4% against the Euro (NZD/EUR).
The Australian Dollar’s losses have been partly due to a major decline in Chinese steel production (and therefore Australian iron ore demand) as part of a bid to clear up Beijing’s air quality for a World War II commemorative parade. The ‘Kiwi’ lost out today after the price of milk dipped once again, falling from over $16.40 to almost $16.30.
Pound Sterling to Australian Dollar, New Zealand Dollar Exchange Rate Forecast: Strong US Results may Push Sterling Up in Pairings
The Pound Sterling (GBP) may still gain later on today after the US Income and Spending results for July are announced, as the ‘Greenback’ (USD) seems to have regained its power over global commodity currencies after an impotent week. No Australian announcements are being made until Monday but a rise on Sunday in the New Zealand Building Permits figure for July may pull the ‘Kiwi’ (NZD) out of its current slough. Deputy Reserve Bank of New Zealand (RBNZ) Governor Grant Spencer recently stated that ‘much more rapid progress in producing new housing is needed’, so a strong positive may aid the New Zealand Dollar substantially.
Current GBP, AUD, NZD Exchange Rates
The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate was trending in the region of 2.1510, the Australian Dollar to Pound Sterling (AUD/GBP) exchange rate was trending in the region of 0.4652, the Pound Sterling to New Zealand Dollar (GBP/NZD) exchange rate was trending in the region of 0.3796, the New Zealand Dollar to Pound Sterling (NZD/GBP) exchange rate was trending in the region of 0.4204, the Australian Dollar to New Zealand Dollar (AUD/NZD) exchange rate was trending in the region of 1.1063, and the New Zealand Dollar to Australian Dollar (NZD/AUD) exchange rate was trending in the region of 0.9045 today.
Comments are closed.