Pacific Exchange Rates Report for December 1st - 5th

QU Economics Research Team
6 hours ago
2 min read

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 1^st – December 5^th, all currencies experienced a dip for at least the first half of the week. The South Korean Won (red) was the only currency that rebounded into the positives ending the week up about .2%. The Japanese Yen (maroon) and the New Zealand Dollar (blue) both moved similarly throughout the week with the Yen ending about .6% weaker and the New Zealand Dollar ending about 1.1% weaker. The currency that weakened the most this weak was the Australian Dollar (green), with a steep decline in the latter half of the week the Australian Dollar weakened about 1.7%.

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 1^st – December 5^th, many currencies fell from their previous set highs. The Australian Dollar (AUD) had the steepest decline, falling to levels it last was at in the middle of September after having hit three-month highs in recent weeks. The South Korean Won (KRW) maintained at the levels it has been for the past couple of weeks and hovering around three-month highs. The Japanese Yen (JPY) fell slightly, but after a strong couple of past weeks it remains higher than it was in previous months. The New Zealand Dollar (NZD) weakened as well during this week which pulled it back to where it was at in late October and the middle of September.

Additional Reading

Australian Dollar Outlook: AUD/USD Rips Toward Resistance- Exhaustion Risk Builds

This article provides an in-depth analysis of the Australian Dollar, highlighting key resistance levels and upcoming economic data that could affect the currency. Some of these upcoming events include things like unemployment data and an interest rate decision for Australia.