Pacific Exchange Rates Report for February 2nd – 6th
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 2nd – February 6th, all currencies strengthened. The Japanese Yen (maroon) strengthened the most out of the four currencies with it ending about 2% stronger than it started the week. The Australian Dollar (green) was the only currency to dip below its starting point during the week, but it rebounded later in the week ending at about .4% stronger. The New Zealand Dollar (blue) had ups and downs throughout the week but ended up finishing the week about 1.1% stronger. The South Korean Won (red) strengthened throughout the week ending up about 1.7% 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 February 2nd – February 6th, the Japanese Yen (JPY) and the South Korean Won (KRW) both saw sharp strengthening’s to their currencies this week coming close to their three-month highs. The Australian Dollar (AUD) and the New Zealand Dollar (NZD) have tracked similarly over the past three months placing them both close to their three month lows.
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