Pacific Exchange Rates Report for February 23rd – 27th

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 February 23^rd – February 27^th, all currencies weakened other than the Japanese Yen (JPY). The Japanese Yen (maroon) increased about .5% over the course of the week. The Australian Dollar (green) and New Zealand Dollar (blue) followed similar tracks throughout the week ending the with New Zealand Dollar weakening about .5% and the Australian Dollar weakening about .8%. The South Korean Won (red) sharply declined to start out the week and rebounded towards the end of the week causing it to weaken about .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 February 23^rd – February 27^th, The Australian Dollar (AUD) and the New Zealand Dollar (NZD) both experienced declines in the past week bringing them to near three-month lows. The Japanese Yen (JPY) strengthened over the past week leaving it fairly centered between its lows and highs over the past three months. The South Korean Won (KRW) declined over the last week pushing it to new three month lows.