EURO/GBP - 1.2064
US$/GBP – 1.5294
CHF/GBP – 1.4592
CAN$/GBP - 1.5604
AUS$/GBP – 1.4831
ZAR/GBP – 12.4454
JPY/GBP – 117.52
HKD/GBP – 11.8891
NZD/GBP – 1.9268
SEK/GBP – 10.7076
AED/GBP – 5.621
US$/EURO - 1.2675
INR/GBP - 78.85

To request a up-to-the minute quotation, call 0845 638 0571 or (+44 207 898 0500 from outside the UK) or fill out our quote form: http://www.smartcurrencybusiness.com/quote1.htm

Sterling fell against the US dollar on Friday as risk appetite dropped on rumours over an imminent mass credit rating downgrade of euro zone countries. Following the Bank of England's meeting last week analysts now widely expect a fresh round of Quantitative Easing at next month's meeting. The pound has now taken on a relative safe haven status against the euro, strengthening when markets feel concerned over the situation in the region. So far today we have seen the news that once economic forecaster believes that the UK is already in a second recession, blaming the crisis in Europe for damaging exports and high inflation for impacting consumer spending. Out this week we have inflation and unemployment figures so call in now for a live exchange rate.

In the euro zone, the euro continued to fall overnight hitting an 11 year low against the Japanese yen after rating agency S&P cut France's top AAA rating and downgraded a further 8 euro zone countries. Continuing a 6 week drop against the US dollar, investors are concerned that the downgrades will impact on a fresh round of bond auctions that starts today with a French bond issue. The overall euro zone credit rating (adjusted for GDP) is now closer to AA- and goes to show how much further the crisis has left to run. Call in now for a live exchange rate.

In the USA, the US markets are shut for Martin Luther King day today, which could exacerbate volatility as liquidity is reduced. Bear in mind that with public holidays in the USA, US dollar transactions will take an extra day. Overall though, the US dollar is on an upward trend as investors look to the safety of the US currency in the face of market turmoil in the euro zone. Call in now for a live exchange rate.

Elsewhere, there is a wide array of Chinese data released in the coming week. There is monthly industrial and retail sales updates and many expect the Chinese economy to show signs of slowing. However, most expect any slowdown to be gradual and should be offset by a US recovery.

Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote on: 0845 638 0571 (or +44 (0)207 898 0500 from outside the UK) or fill out our online quote form at: SmartCurrencyBusiness.com/quote1.htm