Pacific Exchange Rates Report for May 20 - 24
By: Thea Kageleiry, The Quinnipiac University Economics Research Team
Pacific Currencies Index
Source: Yahoo Finance 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.
Last week, from May 20th to the 24th, all of the Pacific exchange rates saw an overall increase by the end of the week. The South Korean won (red) displayed steady growth, with a total increase of about 1.5%. The Japanese yen (maroon) started the week off in a positive direction like the South Korean won but dipped midweek, eventually increasing by the end of the period for a total increase of around 1%. The Australian dollar (green) and New Zealand dollar (blue) differed from the Asian exchange rates by decreasing at the beginning of the week, by about 0.25% each. Then they both increased, with the New Zealand dollar (blue) spiking up a bit but flattening out by the end of the week, and the Australian dollar (green) continuously heading in a positive direction.
Pacific Historical Trends
Source: Yahoo Finance 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.
Throughout the week of May 20th–24th, the currencies experienced overall increases following the previous week. The Australian dollar (AUD) had been heading in a negative direction, but this past week it experienced an upward spike. The New Zealand dollar (NZD) rose slightly during this week but still appears to be trending downward. The Japanese yen (JPY) and the South Korean won (KRW) are following more upward trends, and they both displayed growth this week, though the Japanese yen (JPY) seems to be continuing to increase, whereas the South Korean won (KRW) is hovering in the same range.
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