Central bank commentary remained a driving force
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Weekly Market Analysis July 3rd 2017 |
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Good week for GBP, bad week for USD – PMIs ahead Central bank commentary remained a driving force behind currency market movement last week, with the pound benefiting from the latest Bank of England (BoE) contradictions. The euro also experienced a fairly solid week, but the same couldn’t be said for the US dollar. |
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Today's Rate The rates above are using the British pound (GBP) as the base rate. All rates are for indication purposes only. Prices can vary dramatically based on amount and delivery date. |
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| | “The common currency’s performance against the US dollar was far more impressive, with EUR/USD surging to $1.1444 and its best levels since May 2016.” Transfer 24/7 with our currencies direct app |
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Pound The pound managed to end last week slightly higher against most of its currency rivals, with GBP/EUR advancing from lows of €1.1261 to a 10-day high of €1.1411 and GBP/USD jumping from $1.2710 to a five-week high of $1.3029. Sterling also hit a three-week high of NZ$1.7859 against the New Zealand dollar. |
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Euro The euro peaked at £0.8879 against the pound last week before dropping to £0.8758 and holding that level heading into the weekend. The common currency’s performance against the US dollar was far more impressive, with EUR/USD surging to $1.1444 and its best levels since May 2016. |
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US dollar While the pound climbed last week, the US dollar was pressured lower – resulting in the USD/GBP exchange rate sliding from £0.7867 to £0.7675. The USD/EUR exchange rate had a similar experience, tumbling from €0.8949 to €0.8738. |
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Australian dollar & New Zealand dollar The past week has seen the AUD/GBP exchange rate dip from £0.5981 to £0.5873 while AUD/USD rallied from $0.7568 to $0.7705. It was a similar story for the New Zealand dollar, with NZD/GBP drifting from £0.5756 to £0.5624 but NZD/USD spiking from $0.7256 to $0.7343. |
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