Pacific Exchange Rates Report for January 5th – 9th

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 5^th – January 9^th, all currencies ended the week stronger than they started but almost all of them took different paths to get to that point. The Japanese Yen (maroon) stayed below its starting point for the week for most of the week until a strong finish to the week ending up just under .5% stronger. The Australian Dollar (green) and the New Zealand Dollar (blue) both started the week with some strong days but then dipped down a bit in the middle of the week, both currencies however finished the week stronger than they started with the Australian Dollar ending up just under .3% stronger and the New Zealand Dollar ending just under .8% stronger. The only currency to never dip below its starting point for the week was the South Korean Won (red) which strengthened throughout the week ending just over 1% stronger than it started.

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 5^th – January 9^th, some currencies were able to push to new three-month highs while others hovered close to three-month lows. The New Zealand Dollar (NZD) and the Australian Dollar (AUD) both ended the week slightly stronger however not enough to pull them close to new highs. After a strong week from the South Korean Won (KRW) pushed close to three-month highs last reached in the middle of December. The Japanese Yen (JPY) continued to push to new three-month highs after a strong week.

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