EURO/GBP - 1.1949
US$/GBP – 1.5916
CHF/GBP – 1.4405
CAN$/GBP - 1.5741
AUS$/GBP – 1.4818
ZAR/GBP – 11.9384
JPY/GBP – 129.01
HKD/GBP – 12.3396
NZD/GBP – 1.9072
SEK/GBP – 10.5352
AED/GBP – 5.8431
US$/EURO - 1.3312
INR/GBP - 78.28

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 performed well yesterday strengthening against both the euro and the dollar as the markets absorbed the news out of Europe and the US. The main release out of the UK today is the manufacturing Purchasing Managers' Index (PMI). Volatility and uncertainty continues to dominate the markets and yesterdays gains can quickly turn into today’s losses so call in now for the latest update and the latest news.

The euro performed poorly yesterday as the ECB offered another €529.5 billion in low interest loans to 800 financial institutions which is more than the markets had anticipated. Rumours spread that the ECB had bought Portuguese bonds yesterday as they underperformed despite the bond purchasing program supposedly being on hold. On a more positive note, the Greek parliament did manage to ratify a €3.2 billion package of further spending cuts essential to securing the first instalment of its bailout fund before the March 20 deadline. Furthermore, the Italian prime minister stated that he believes that the worst may be over for the Euro zone. I suspect wishful thinking so call in now for the latest update and the latest news

Out of the US yesterday, the preliminary GDP data released was better than expected coming in at 3.0% dampening the speculation of a slowdown this year. This led to the US$ losing ground against sterling as risk appetite increased. This was followed by the Chairman of the Federal bank expressing his belief that the job market has showed “positive developments” and is recovering faster than anticipated; but, he also noted that it is still “far from normal”. The overwhelming rhetoric was that despite the positive sentiment coming from the US at present, the plan is to keep interest rates low until late 2014; but, also suggesting that there was no plan for further quantitative easing for the time being. There is a raft of data released in the US today which includes unemployment data, manufacturing PMI and the chairman of the Federal Bank is speaking once more. Call in now for the latest update and the latest news.

Elsewhere, New Zealand’s building permits rose more than anticipated and the business confidence in the country also rose. Australia retail sales rose in January; but, in line with expectations and Switzerland’s economic barometer figures came in as anticipated. Furthermore, the IMF announced that it approved of currency intervention for developing countries paving the way for central banks to manipulate currency exchange rates when needed. Out late last night data released included building approval and private capital expenditure figures from Australia; as well as the Chinese manufacturing PMI figures were announced. Call in now for the latest update and the latest news.

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