Pacific Exchange Rates Report for June 23rd – 27th

By: Mariam Saad, 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 June 23rd – June 27th, there were similar performances among all the pacific currencies. All the currencies followed the same pattern, a sharp increase at the beginning of the week followed by a quick drop and a steady decrease till the end of the week. By the end of the week, the New Zealand Dollar (blue) had decreased the most, by slightly over 1%, and the Korean Won (red) had decreased the least, by less than 0.5%. 

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 June 23rd – June 27th, the Pacific currencies are finishing out the month all decreasing following their fluctuating pattern. Since May, all the currencies have been consistently increasing and decreasing, with the Australian Dollar (AUD) and the New Zealand Dollar (NZD) following a similar pattern, and the Japanese Yen (JPY) having the most variation, with a significant increase in May. The Japanese Yen has continued to have the best performance in the past 3 months.