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Home Forex Check Forex Rate British Pound gains on Australian and NZ Dollars
British Pound gains on Australian and NZ Dollars PDF Print E-mail
Written by Will Peters   
Friday, 12 March 2010 10:04
A mixed bag this morning for the British Pound - while the Pound Australian Dollar exchange rate is higher the Pound New Zealand Dollar exchange rate has come in lower.



Pound Australian Dollar exchange rate


The GBPAUD is higher by 0.034% with 1 GBP = 1.6489 AUD.

Caxton FX report that the British Pound ended a four day losing streak against the Australian Dollar yesterday, advancing nearly a cent with the market happy to consolidate the week's gains.

In line with broader market gains, the British Pound also found support against the higher-yielding currencies, as inflation data from the UK encouraged investors to book profits.

Caxton Fx say, "some slightly weaker-than-expected employment figures from the Australian economy also softened demand toward the local currency.
Having pushed to such extensive highs earlier in the week, the aussie has naturally bounced back slightly and indeed sterling is continuing to gain this morning.

"With further profit taking expected this afternoon, we could see the price move back above 1.65."

Pound New Zealand Dollar rate

The GBPNZD is 0.039% lower at 9am in London with 1 GBP = 2.1551 NZD.

In a similar fashion to Pound Australian Dollar, the UK currency gained ground against the New Zealand Dollar yesterday closing 0.75% higher.

Sterling enjoyed a slight rebound following data from the BoE, whilst the kiwi continued to suffer from the RBNZ's cooled market expectations about the pace of interest rate rises.

The currency is also sliding this morning following weak retail sales figures, which rose by 0.3% in January, missing market expectations for a 0.9% rise.
Currently the pound is up half a cent, with the price now back over 2.15.
 
Last Updated ( Friday, 12 March 2010 10:08 )
 

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