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Home Forex Check Forex Rate Exchange rates: Pound volatile against NZD and AUD
Exchange rates: Pound volatile against NZD and AUD PDF Print E-mail
Written by Will Peters   
Thursday, 18 March 2010 10:36
The Pound Australian Dollar exchange rate and the Pound New Zealand Dollar exchange rate remains volatile in mid morning trading in London.



The GBPAUD is 0.052% higher with 1 GBP = 1.6600 AUD at 10am in London.

The GBPNZD is 0.246% lower with 1 GBP = 2.1394 NZD.

The exchange rates markets concerning the British Pound and these two currencies has been choppy over the past 24 hours.

"Having risen sharply following the employment figures in the morning, the pound pared its gains against the Australian Dollar in later trade to close near level on the day," reports Caxton Fx.

The British Pound rose across the board in the morning session with far-better-than expected jobless claims supporting improved sentiment to the UK economy.

However, the pound slowly eroded its gains against the higher-risk aussie through the day as analysts picked apart the UK figures and as risk appetite lent support to the Australian currency.

Some encouraging local data from Australia this morning has reinforced the strength of the economic recovery, which had put the Australian Dollar back on top.

The pair was trading around 1.6550 but over the course of the past hour the pound has once again gained the upper hand.

Pound New Zealand Dollar exchange rate


The pound has pared some of its gains this morning as investors turn cautious ahead of UK public finances data, which is expected to put the market's focus back onto Britain's mounting debt burden.

Caxton Fx report that the GBPNZD pair was quite volatile yesterday, with the pound jumping two cents and then falling swiftly back down to close almost level against the kiwi.

The New Zealand Dollar has been one of the best performers this week with the currency soaring across the board on increasing risk appetite and reaching multi-week highs against its main rivals.

With the Australian dollar slightly marred by the recent "dovish" tone of the RBA minutes, demand for the New Zealand dollar has risen and it is currently trading half a cent higher against the pound this morning.
Last Updated ( Thursday, 18 March 2010 10:38 )
 

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