Currencies in a snap-shot - Westpac

As part of their market wrap, analysts at Westpac offered key takeaways in the price action today.

Key Quotes:

"The US dollar generally strengthened, with JPY the only obvious exception. USD/JPY fell from near 106 late Sydney to around 105.25, the yen showing its usual safe-haven qualities."

"EUR/USD probed above 1.2380 in London, then fell under 1.23."

"AUD performed poorly, falling from 0.7760 to 0.7687 before trimming losses.NZD fell from 0.7263 to 0.7212. AUD/NZD fell from 1.0720 to 1.0660."

"GBP/USD spiked to a high of 1.4219 as the BoE left policy unchanged but indicated that another hike was not too far away. The minutes detailed the economy’s progress as the MPC had projected and so affirmed their intention to gradually withdraw accommodation." 

"Saunders and McCafferty, who are known to be more hawkish, dissented on the unchanged Bank Rate preferring an immediate rise rather than wait until May. However, support was unanimous for the very gradual path of withdrawal and maintaining their current asset purchasing."