Pacific Exchange Rates Report for August 25th - 29th
- QU Economics Research Team
- Sep 9
- 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 25th – 29th, there were interesting performances among the Pacific currencies. Although they all followed a similar patter, the South Korean Won (red) stayed above the other currencies consistently, with the South Korean Won even rising to a positive percent change in the middle of the week. However, the other currencies consistently stayed in the negative percent change section of the graph throughout the whole week, rising and falling but still staying negative, with the weakest currency at the end of the week being the Australian Dollar (green), which was more than -1.5% weaker. The Won (red) was the only one that was stronger by the end of the week, ending it by only being slightly above the 0.0% line.
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 25th – 29th, the Pacific currencies saw an interesting turnaround from last week’s performances on their respective 3-month averages. While at the end of last week, they were all falling, with a prediction of an upcoming rise in some of the currencies, the Australian Dollar (AUD) and New Zealand Dollar (NZD) both began to rise significantly, while the South Korean Won (KRW) continued to decrease. The Japanese Yen (JPY) on the other hand, decreased very slowly in the past week, which is inconsistent with the rest of its average, which rises and falls rapidly.
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