Exchange rates today: The British pound (GBP) vs AUD, NZD, CAD, EUR and USD

By Sam Coventry

A look at the performance of the British pound sterling against the US dollar, euro, Canadian, New Zealand and Australian dollars on the 5th of February 2014.

The British pound exchange rate complex in early afternoon:

  • The pound euro exchange rate is 0.42 pct in the red at 1.2026.
  • The pound dollar exchange rate is 0.26 pct lower at 1.6286.
  • The pound Canadian dollar exchange rate is 0.33 pct lower at 1.8035.
  • The pound New Zealand dollar rate is unchanged at 1.9808.
  • The pound Australian dollar rate is 0.26 pct lower at 1.8248.

Note: All FX quotes here refer to the wholesale spot market. Your bank will charge a spread at their discretion when passing on a retail rate. However, an independent FX provider is so well placed on the market that they are able to deliver you up to 5% more currency. Please learn more here.

Pound euro exchange rate today

The impressive Construction PMI figure allowed the pound to reverse some losses, but failed to fuel enough momentum to push the rate beyond 1.21.

The services figure however has failed to keep this momentum going and the fight to stay above 1.20 returns.

"Investors are cautious of the euro especially considering the ECB rate announcement tomorrow. Eurozone retail sales figures have done nothing to support the single currency and it looks like there’s more weakness ahead," says Sasha Nugent at Caxton FX.

Pound dollar exchange rate today

Will ISM Non- Manufacturing PMI disappoint too?

Demand for the dollar is still evident in this rate and a solid ISM non-manufacturing figure will most likely encourage a stronger dollar and dampen worries about US growth. This could put the dollar in a strong position in the run up to the non-farm payrolls report on Friday.

"UK data has kept the downward trend going, however poor US figures will definitely help the pound to curb losses. There is some work to do if we are to see GBP/USD remain above 1.62," says Nugent.

Euro dollar exchange rate today

How long can Asian buyers keep the EUR/USD rate above 1.35?

Some decent data and willing Asian buyers have kept the euro in the game and the dollar is having a harder time forcing the rate back below 1.35. Having said that, today’s eurozone data hasn’t prompted a much higher rate which leaves the ball in the dollars court.

"A move back below 1.35 is possible this morning and we expect the euro to be on the back foot. There is only so much Asian investors can do, and with the markets on edge ahead of the ECB press conference, we doubt many will be willing to support the euro today," says Nugent.

Pound vs Australian dollar exchange rate

The market prepares for the RBA statement

Now the market has received some clues about what is to come from the RBA, there is a little more caution ahead of their quarterly statement which will be released on Friday.

It seems like the pound has forfeited the opportunity to pare back losses.

"Aussie retail sales and trade balance present another barrier for the pound and we expect the Aussie to continue to dictate trading today," says Nugent.

See our report yesterday concerning the observation that the Australian dollar may have bottomed out and a longer-term recovery is about to shape up.

Pound vs New Zealand dollar

Labour market data in New Zealand were released last night and impressive numbers have kept investors buying the NZ dollar.

Housing data however showed that house prices in Auckland lost some momentum after Christmas, but with the outlook for prices still bright, it is unlikely this will have a huge effect on the rate.

The main driver of this rate today will be UK data, "and with this number coming in below estimates we doubt the pound will have much support. With the market less risk averse, we expect lower levels in this rate," says Nugent.

GBP vs the Canadian dollar

The Canadian dollar has rebounded well in the past few sessions and the battle between sterling and the CAD continues today.

The UK Services PMI figure may have given the loonie a free victory. The Canadian dollar now has a lot more support, and so a very strong building permits number could encourage this move.

"With sterling currently on the back foot,  we expect the rate to decline further," warns the Caxton FX analyst.