It’s 3PM GMT so let’s have a look at what’s been moving and shaking on the FX markets today.
The biggest mover of the day is the US Dollar/Japanese Yen which has lost 1.29%. The pair has been declining since the early trading hours and has not managed to recover from its loss.
Japan announced the first step in its stimulus package, totaling 13.4 billion Japanese Yen, and the currency sits as the top advancer of the day.
Despite the RBA cutting its interest rate to 1.5% the Aussie dollar has strengthened against most of its rivals, and it trades point 17% up from the Kiwi.
Better-than-expected UK Construction PMI figures for July, which did not show as sharp a post-referendum contraction as markets had anticipated, sees the Sterling currently trading point 33% above the Loonie.
And modest improvement in the Eurozone Producer Price Index did little to help strengthen the Euro and it sits point 13% above the Swissie.
And wrapping up the 8 majors is the US Dollar which saw weaker-than-anticipated personal spending figures, and it is the most bearish currency.
Now looking at weekly performance, coming out on top is the Kiwi/Dollar which has gained 3.88%. In the same time period the Dollar/Yen has lost 4.73%.
And the best performing currency pair over the past month has been the Aussie/Loonie which has seen a rise of 2.83%, and the Pound/Australian Dollar has depreciated 4.25% during the same amount of time.
I’m Celeste Skinner and these were the movers and shakers for Tuesday. Tune in tomorrow to see how the 8 majors are reacting to the latest news and events on the FX Markets. See you then.
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