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October 2015

GBP Climbs to Highest Level Against USD in Weeks

Published: Wednesday 07 October 2015

UK industrial production jumped up in August after a slump in July. Car plants returned to work after summer breaks which saw industrial output rebound.

The pound is also in demand because of The AB Inbev takeover of SAB Miller. This has been in the news again this morning as details of a raised bid came out earlier today, which SAB Miller investors are now split over. Following the news, GBP climbed to the highest level against USD in two weeks.

Aussie and Kiwi dollars have been gaining today - mostly the Kiwi - which is a continuation following on from last night’s gains. This was a result of the jump in the average price at the Global Dairy Trade auction, which rose 10% - the 4th consecutive advance.

Canadian building permits were incredibly disappointing this afternoon: -3.7% expectations were for 0.3%. However, the Canadian dollar has clawed back it losses as it continues to be supported by the advancements in commodities.