EURO/GBP - 1.1938
US$/GBP - 1.5382
CHF/GBP - 1.4479
CAN$/GBP - 1.5639
AUS$/GBP - 1.4844
ZAR/GBP - 12.3756
JPY/GBP - 117.88
HKD/GBP - 11.9349
NZD/GBP- 1.9362
SEK/GBP- 10.6232
AED/GBP - 5.644
US$/EURO - 1.2846
INR/GBP - 78.98

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 to the lowest level against the euro in 7 weeks after speculation that the Bank of England will expand its Quantitative Easing programme as early as next month. The pound dropped as low as €1.1936/£1 in overnight trading after a better than expected Spanish debt auction and cautiously optimistic comments from European Central Bank President Mario Draghi. Yesterday also saw a wide array of UK retailers delivering their Christmas trading results – it was very much a mixed bag and put investors on the back foot, increasing concerns over the possibility of a double dip recession. Call in now for a live exchange rate.

In the euro zone, the euro strengthened to a 7 week high against the majority of its counterparts as ECB President Mario Draghi said that the supply of cheap money released by the central bank last month was helping to stabilise the banking system and in turn the euro zone economy. As a result, the euro made a recovery throughout the day and is back below €1.20 against sterling. However, many feel that the lack of a credible solution to the euro zone crisis is set to keep the euro under pressure over the coming months. Ensure you don't lose out by speaking to one of the team sooner rather than later.

In the USA, the US dollar came under pressure yesterday as a result of the euro recovery following the success of the Spanish bond auction that gave risk appetite a boost. However, with poor industrial figures in the UK, sterling failed to capitalise on this boost to risk and many market analysts expect sterling to continue to fall off against the US dollar in the coming weeks and months.

Elsewhere, China's foreign exchange reserves fell for the first time in a decade as foreign investment in the country fell and investors liquidated investments in emerging markets. China's foreign exchange reserve is the world's largest and has grown steadily – is it the first signs of a period of global rebalancing? We shall have to wait and see. Call in now for a live exchange rate.

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