Exchange Rate Today - British Pound (GBP), Yen (JPY), Dollar (USD), Norwegian Krone (NOK) & Canadian Dollar (CAD)

November 17, 2014 - Written by John Cameron

STORY LINK Exchange Rate Today - British Pound (GBP), Yen (JPY), Dollar (USD), Norwegian Krone (NOK) & Canadian Dollar (CAD)

Our exchange rate report for the Pound Sterling (currency:GBP) in relation to the US Dollar (currency:USD), Japanese Yen (currency:JPY), Norwegian Krone (currency:NOK) and the Canadian Dollar (currency:CAD) conversions today.

Big moves in major global markets over the past seven days have affected the relative value of several major currencies during early trading this week.

The Pound to Australian Dollar exchange rate converts +0.3 per cent higher at 1 GBP is 1.79543 AUD.
The Pound to Canadian Dollar exchange rate converts -0.09 per cent lower at 1 GBP is 1.76696 CAD.
The Pound to Euro conversion rate is +0.41 pct higher at 1.25614 GBP/EUR.
The Pound to Norwegian Krone exchange rate today is converting +0.49 per cent higher at 10.61859 GBP/NOK.
The Pound to US Dollar exchange rate today is converting -0.16 per cent lower at 1.56403 GBP/USD.

Canadian Dollar and Norwegian Krone Exchange Rates Ease Today

Last week’s shift lower for world oil prices has continued into this week’s session with the price of a barrel of Brent Crude dropping to a fresh 4-year low of $78.00 during the first part of this morning’s session.

The move has seen the Pound Sterling (currency:GBP) record small gains against both the Canadian Dollar (currency:CAD) and the Norwegian Krone (currency:NOK) so far today, with GBP CAD gaining 0.02% and GBP NOK climbing by 0.19%.

Share Markets Steady

Meanwhile, investors who had placed bets on strong losses for global equities following the weekend’s developments will have been generally disappointed.

By the latter stages of the European session, London’s benchmark FTSE 100 index had climbed by a small amount, while the euroland’s leading bourses were showing similar gains.

Nikkei 225 Slumps Today

The one major global exchange which endured a significant loss was Tokyo’s Nikkei 225, which gave up some of its near-term gains to close down by 2.96%.

The development was far from a surprise, as many analysts had predicted sustained downside for the Nikkei following last night’s Japanese Gross Domestic Product data which revealed that activity level in Asia’s second economy had dropped by a year-on-year 1.6% during the three months to the end of July.

Although the counterpart Q2 GDP figure was upwardly revised to -7.3%, the combined effect of the numbers showed that Japan has slumped into another deep recession since the turn of the year.

The British Pound to Japanese Yen exchange rate (GBP/JPY) is trending 0.53 pct lower with a conversion rate of 1 GBP equals 182.11722 JPY.

Snap Election Forecast In Japan

The news has lead political analysts to suggest a high percentage chance that Japanese Premier Shinzo Abe will call a snap election to act as a referendum on the level of support for his drastic economic reforms.

Up to this point, the potential for such a move has failed to cause any widespread dip in global appetite for risk, but the market detests uncertainty, so a delayed reaction to such an unclear situation in one of the world’s premier economies could see world shares move lower.

Although the CBOE VIX ‘Fear Index’ has just reopened slightly above Friday’s closing level, investors appear to be relatively sanguine about the development in Japan at this time.

GBPPound to Euro and US Dollar Exchange Rates Under Pressure Following Carney Comments

Meanwhile, the pressure remains on the Pound Sterling following comments from Bank of England Governor Mark Carney to The Australian newspaper which suggested that he feels that the British economy faces, ‘huge disinflationary forces coming’ thanks to a slowdown in the economies of its trading partners.

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