Page 2 - Rate Rangebound News Today

April 28, 2021 - Written by John Cameron GBP/AUD Exchange Rate Rangebound as Australian Economy Begins to Show Signs of Recovery The Pound Australian Dollar (GBP/AUD) exchange rate held steady today despite Australia’s latest consumer price index falling below forecasts of 0.9% to 0.6%. The pairing is currently fluctuating around AU$1.79. The Australian Dollar (AUD) rose despite the nation’s CPI falling well below the Reserve Bank of Australia’s (RBA) target. CommSec chief economist Craig...

April 27, 2021 - Written by John Cameron GBP/CAD Exchange Rate Rangebound as Canada’s Covid-19 Vaccines Pass 12-Million The Pound Canadian Dollar exchange rate held steady today as the daily amount of Covid-19 vaccinations in Canada has doubled since the beginning of April. The pairing is currently fluctuating around CA$1.72. The Canadian Dollar (CAD) has benefited from news that Canada has now surpassed 12-million Covid-19 vaccinations as the nation’s rollout continues to pick up steam. Ca...

EUR/GBP Exchange Rate Rangebound as Europe’s Covid-19 Cases Remain High The Euro Pound exchange rate held steady today as Europe cautiously begins lifting Covid-19 restrictions. The pairing is currently fluctuating around €0.86. The Euro (EUR) failed to rise against the Pound today as numbers of coronavirus infections in Europe remain high. Nino Cartabellotta, head of the GIMBE Foundation health think tank has however warned about Italy’s easing of restrictions, saying: ‘Clearly if the ...

April 13, 2021 - Written by John Cameron EUR/USD Exchange Rate Rangebound as Germany’s Investor Morale Struggled in March The Euro US Dollar (EUR/USD) exchange rate held steady today after German investor morale has suffered from fears of further Covid-19 restrictions. The pairing is currently fluctuating around $1.19. Germany’s ZEW survey of the current economic situation improved by 12.2 points, rising from -48.8 to -61 last month. ZEW President Professor Achim Wambach was however more o...

April 1, 2021 - Written by John Cameron GBP/USD Exchange Rate Rangebound as ‘Greenback’ is Buoyed by Safe-Haven Demand The Pound US Dollar exchange rate held steady today following President Joe Biden’s announcement of a $2 trillion infrastructure stimulus package. The pairing is currently fluctuating around $1.37. Mr. Biden commented on the stimulus plan: ‘It is not a plan that tinkers around the edges. It is a once-in-a-generation investment in America.’ He also added: ‘The divis...

EUR/GBP Exchange Rate Rangebound as Lockdown Fears Haunt European Markets The Euro to Pound (EUR/GBP) exchange rate held steady today and is currently The Euro to Pound (EUR/GBP) exchange rate held steady today and is currently fluctuating around €0.85.

March 3, 2021 - Written by John Cameron EUR/USD Exchange Rate Rangebound as EU Lockdowns Weigh on Eurozone Economy The Euro to US Dollar (EUR/USD) exchange rate was largely muted today, with the pairing currently fluctuating around $1.20. The Euro has suffered this week owing to largely underwhelming Eurozone economic data. Germany’s retail sales for January tumbled by -4.5, despite forecasts for a more modest contraction of 0.3%. The Federal Statistics Office commented: ‘This decline can ...

March 2, 2021 - Written by John Cameron GBP/CAD Exchange Rate Rangebound as UK House Prices Rise in February The Pound to Canadian Dollar (GBP/CAD) exchange rate held steady today as the search for the UK’s missing Brazilian Covid-19 variant is narrowed down to the south-east. The pairing is currently fluctuating around CA$1.76. As a result, Sterling investors are remaining cautious as the Brazilian variant could cause a problem for the effectiveness of the UK’s Covid-19 vaccination further...

At the time of writing the pair is currently trading at around $1.7550. Pound (GBP) Muted as Bank of England Holds Interest Rates The Pound was muted against the Canadian Dollar today following on from Thursday’s Bank of England (BoE) February policy decision. As expected, the bank left rates unchanged at 0.1% and lowered its 2021 Q1 growth forecasts. The more upbeat news for investors, however, was the downplaying of potential negative interest rates. Although banks were told to prepare fo...

The Pound to Japanese Yen exchange rate held steady today, with the pairing currently fluctuating around ¥142.000. The Japanese Yen benefited from news that Japan’s economy could recover to levels seen before the Covid-19 pandemic as early as this March. Bank of Japan (BoJ) Governor Haruhiko Kuroda explains: ‘Both fiscal and monetary policies have been successful in preventing corporate failures and unemployment. ‘We expect, probably by the end of fiscal 2021 or early fiscal 2022, that ...