Pacific Exchange Rates Report for November 3rd – 7th
- QU Economics Research Team
- 4 days 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 November 3rd – November 7th, at the start of the week all currencies were flat. There were similar performances among the Australian Dollar (green), New Zealand Dollar (blue), and South Korean Won (red) in the latter half of the week, all making steady increases until the end of the week. The Australian Dollar (green) increased the least out of these currencies ending the week about .8% stronger, the New Zealand Dollar (blue) was second out of the three currencies strengthening about 1.7%, and the South Korean Won (red) strengthened the most ending the week about 2.2% stronger. The only currencies out of the four tracked this week to end below where it started was the Japanese Yen (maroon), after being steady for the first half of the week the yen slowly decreased in the second half of the week ending about .7% weaker 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 weeks of November 3rd – November 7th, the New Zealand (NZD) and the South Korean Won (KRW) both hit three-month highs. The Australian Dollar (AUD) regained some of the losses it had incurred over the past weeks, returning to levels it reached in early October. The Japanese Yen (JPY) had a small decrease from former highs but still stayed above levels from previous months. All currencies are now at higher levels than where they were 3 months ago.
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