Pacific Exchange Rates Report for January 26th – 30th

QU Economics Research Team
18 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 January 26^th – January 30^rd, all currencies weakened and showed similar paths throughout the week. The Japanese Yen (maroon) weakened the most out of the four currencies with it ending about 2.2% weaker than it started the week. The Australian Dollar (green) and the New Zealand Dollar (blue) followed almost identical paths throughout the week with steady declines and a slight strengthening on the last day. The Australian Dollar ended the week just over 2% weaker and the New Zealand Dollar ended about 2.1% weaker. The South Korean Won (red) weakened the least out of every currency in this list with a slight rebound towards the end of the week putting it at about 1.9% weaker to end the week.

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 January 26^th – January 30^rd, The Australian Dollar (AUD) and the New Zealand Dollar (NZD) fell to levels they have not been at in over three months. The Japanese Yen (JPY) experienced a steep decline pushing it to levels it last reached in early November, erasing the gains it has incurred over the last couple of months. The South Korean Won (KRW) experienced a similar decline to the Yen with it reaching levels it last was at in early November.

Additional Reading

Japan PM Takaichi talks up weak yen even as her government works to counter currency decline

The Prime Minister of Japan Spoke about the recent weakening of the Japanese Yen and talked to the potential strengths of this weakening even while the government of Japan is actively trying to counteract the weakening.