Pound Dollar Exchange Rate – GBP USD Heads Lower On Risk Appetite, GBP EUR Rate Holds Steady
25 Nov 2011 at 9 AM - Written by David Woodsmith
The Pound Euro exchange rate (GBP EUR) is 1.1650. The Pound Dollar exchange rate (GBP USD) is 1.5457. The Pound Australian Dollar exchange rate (GBP AUD) is 1.5969.
Key Japanese economic data, released overnight, showed that Japanese consumer prices fell by 0.1% in October, meaning that the Asian giant is experiencing deflation for the first time in four months. Deflation is considered to be bad news for any economy, as it leads consumers to postpone large ticket purchases, causing a dip in aggregate demand.
The worrying Japanese figures caused another day of losses for Asian equities markets, with the Hang Seng in Hong Kong losing 1.37% of its value on the day.
The continuation of the ‘risk-off’ trading environment has seen steady support for the US Dollar, in its role as the global safe-haven currency of choice. This sent the GBP USD exchange rate lower, to touch off 1.5448 overnight.
Elsewhere, there was some good news from Germany, with the release of the latest IFO Business Climate survey, which showed that business sentiment in Europe’s powerhouse economy is on the rise for the first time since June. This provided some support for the Europe’s single currency, which held its own against the Pound on the session.
Today sees a very light schedule of data releases, so increased focus will be placed on movements in global equities markets. With London’s FTSE 100 opening 0.40% down, there appears to be scope for further downside for the high-yielding currencies, giving potential for the GBP AUD and GBP NZD rates to make a renewed run at 1.6000 and 2.1000 respectively.
For other live currency exchange rates and a currency converter see the currency news website.
STORY LINK Pound Dollar Exchange Rate – GBP USD Heads Lower On Risk Appetite, GBP EUR Rate Holds Steady
Pound Dollar Exchange Rate – GBP USD Heads Lower On Risk Appetite, GBP EUR Rate Holds Steady
Key Japanese economic data, released overnight, showed that Japanese consumer prices fell by 0.1% in October, meaning that the Asian giant is experiencing deflation for the first time in four months. Deflation is considered to be bad news for any economy, as it leads consumers to postpone large ticket purchases, causing a dip in aggregate demand.
The worrying Japanese figures caused another day of losses for Asian equities markets, with the Hang Seng in Hong Kong losing 1.37% of its value on the day.
The continuation of the ‘risk-off’ trading environment has seen steady support for the US Dollar, in its role as the global safe-haven currency of choice. This sent the GBP USD exchange rate lower, to touch off 1.5448 overnight.
Elsewhere, there was some good news from Germany, with the release of the latest IFO Business Climate survey, which showed that business sentiment in Europe’s powerhouse economy is on the rise for the first time since June. This provided some support for the Europe’s single currency, which held its own against the Pound on the session.
Today sees a very light schedule of data releases, so increased focus will be placed on movements in global equities markets. With London’s FTSE 100 opening 0.40% down, there appears to be scope for further downside for the high-yielding currencies, giving potential for the GBP AUD and GBP NZD rates to make a renewed run at 1.6000 and 2.1000 respectively.
For other live currency exchange rates and a currency converter see the currency news website.
TAGS: American Dollar Forecasts Australian Dollar Forecasts Daily Currency Updates Euro Forecasts New Zealand Dollar Forecasts Pound Australian Dollar Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound New Zealand Dollar Forecasts Pound Sterling Forecasts
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