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Boston attack shakes US market

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Currency update from sent money home

Pound Sterling

The Pound has weakened slightly against the Euro ahead of the release of a number of important UK data releases. The consumer price indexes and consumer retail price index are expected to show a mixed picture for the UK economy. If the data comes in worse-than-expected we can expect the currency to fall against its peers.

US Dollar

The ‘Greenback’ has extended its decline against the Japanese Yen due to heightened worries about global growth and a plunge in gold prices. The currency weakened in Asian trading following the bomb attacks in Boston which caused risk aversion to the Dollar.

The Euro

The Euro continues to be under pressure today as a number of factors weigh upon the single currency. The main cause for concern is the broad risk-averse sentiment among investors following yesterday’s disappointing Chinese data. Growing anti-Euro sentiment in Germany, the region’s biggest economy has also weighed upon the currency. A new political party called the Alternative for Germany Party has seen support swell since its formation, much to the concern of investors. Other ongoing political issues in Italy and Portugal also continue to pile on the pressure.

Australian Dollar

The ‘Aussie’ fell to a one-month low against the US Dollar as the bombings in Boston and the disappointing data out of China weighed on market sentiment. The bombings are thought to be a terrorist act and caused investors to sell. Further information on how the explosions happened will be the most likely driver for financial markets today.

New Zealand Dollar

The ‘Kiwi’ has recovered some of its losses after the price of gold and silver fell and as the bomb attacks in Boston cause concern in the markets. The next piece of important economic data for the ‘Kiwi’ is due to be released tomorrow. The first-quarter consumer price index is expected to show an annual rise of 0.9%, a figure below the Reserve Bank of New Zealand’s target level of between 1% and 3%.

Canadian Dollar

The ‘Loonie’ slid further against its US relation due to a massive sell-off in gold and as yesterday’s disappointing Chinese economic data continues to weigh upon commodity based currencies. The bomb attacks in Boston also weighed down the ‘Loonie’.

South African Rand

The Rand has pulled back slightly from overnight lows against the Dollar but could resume a downward slide as investors remained cautious of taking risks in the aftermath of yesterday’s weak Chinese economic data.

Currency update from sent money home

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