Pacific Exchange Rates Report for December 15th – 19th

By: Patrick Gorman, 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 December 15^th – December 19^th, all currencies ended the week stronger than they started. The Japanese Yen (maroon) and the South Korean Won (red) both started the week with declines however they rebounded to strengthening about .2% for the Won and .8% for the Yen. The Australian Dollar (green) and the New Zealand Dollar (blue) both steadily strengthened throughout the week ending with the Australian Dollar being just about 1% stronger and the New Zealand Dollar being just above 1.2% stronger.

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 December 15^th – December 19^th, currencies like the Japanese Yen (JPY) and the South Korean Won (KRW) were able to push to higher levels than they had been at is recent weeks, with the Won reaching a new 3-month high. The New Zealand Dollar stayed at levels it was at in late September and late October. The Australian Dollar remains below levels it was at for the previous three months.