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Sterling softer against the Euro but stronger against the US Dollar

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Pound Sterling

Since the Bank of England first linked the UK unemployment rate to interest rate increases the monthly jobs data has been of particular interest. If today’s report confirms that the unemployment rate fell to 7.1 per cent in March the Pound may climb. As it stands Sterling is softer against the Euro but stronger against the US Dollar.

US Dollar

As the situation in the Ukraine becomes increasingly tense, the safe-haven US Dollar has strengthened against several of its major currency counterparts. The ‘Greenback’ has also benefited from this week’s upbeat domestic economic reports. Today US Dollar fluctuations may be inspired by US industrial and manufacturing production data.


While the Euro fluctuated yesterday following the release of a mixed bag of ZEW economic sentiment reports for Germany and the Eurozone, the common currency began local trading in a stronger position against the Pound. However, if today’s inflation figure for the 18-nation currency bloc adds to the case for the ECB introducing additional stimulus the Euro could struggle as the day continues.

Australian Dollar

The Australian Westpac Leading Index showed stagnation in March and the ‘Aussie’ largely retained declines after it was released. However the South Pacific currency went on to trim losses as China’s GDP data showed that growth slowed by less than expected.

New Zealand Dollar

The ‘Kiwi’s bullish relationship with its peers was brought to an end overnight as reports showed a steep drop in the price of dairy (New Zealand’s main export) and inflation slowed unexpectedly.

Canadian Dollar

Yesterday the ‘Loonie’ remained under pressure in spite of the release of upbeat Canadian housing and manufacturing shipments data. Today’s Bank of Canada rate decision could be a notable cause of Canadian Dollar movement.

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