Pacific Exchange Rates Report for August 11th - 15th
- QU Economics Research Team
- Sep 1
- 2 min read
By: Mariam Saad, The Quinnipiac University Global Economics Research Team
Pacific Currencies Index
Source: Eurostat and own calculations. Exchange rates are inverted to be USD per local currency (i.e., an increase indicates a stronger domestic currency) and then indexed to be 100 at the start of the period.
For the week of August 11th – August 15th, there were interesting performances among all the Pacific currencies, notably among the Australian Dollar (green) and the New Zealand Dollar (blue), and the South Korean Won (red) and the Japanese Yen (maroon). While all the currencies followed a similar pattern, each currency ended up in a different place by the end of the week, with the Australian and New Zealand Dollars strengthening and the Won and the Yen weaking. All the currencies started the week slow with a gradual increase, followed by a steep drop by the Won first, then the rest of the currencies, with the Won and Yen decreasing the most; the Yen hitting its lowest point later than the rest. This was followed by a steady increase which ended the week with strengthened Australian and New Zealand Dollars (NZD by almost 0.5%) and weakened Won and Yen (Yen by more than -0.5%).
Pacific Historical Trends
Source: Eurostat and own calculations. Exchange rates are inverted to be USD per local currency (i.e., an increase indicates a stronger domestic currency. The center line is a rolling three-month average. The upper and lower boundaries are the average plus and average minus one standard deviation, respectively, for the same three-month period.
For the week of August 11th – August 15th, the Pacific currencies have had a complete turnaround from last week on their 3-month trends. While all the currencies continued to rise last week, they started their descent this week. The Australian Dollar (AUD), New Zealand Dollar (NZD), and South Korean Won (KRW) decreased steeply, with the Japanese Yen (JPY) only decreasing slightly. Overall, the South Korean Won and New Zealand Dollar have almost returned to where they started in mid- May, while the Australian Dollar increased and the Japanese Yen has decreased.
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