05/03/2012
US$/GBP – 1.5798
CHF/GBP – 1.4436
CAN$/GBP - 1.5658
AUS$/GBP – 1.4748
ZAR/GBP – 11.9320
JPY/GBP – 128.31
HKD/GBP – 12.2672
NZD/GBP – 1.9108
SEK/GBP – 10.5718
AED/GBP – 5.8021
US$/EURO - 1.3188
INR/GBP - 77.65
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Sterling had a fairly stable day against the euro on Friday whilst weakening against the US dollar even though the construction Purchasing Managers' Index (PMI) figures released were better than expected. The main focus this week will be on Thursday’s Bank of England meeting and whether or not the Bank of England will further expand the asset purchase program with another round of Quantitative Easing beyond the £50 billion increase last month. The state of the UK’s economy remains unclear so call in now for the latest news and a live quote.
The euro had a poor day on Friday weakening against the majority of currencies as the markets were unimpressed by the developments seen at the EU Economic Summit and possible uncertainty about the Greek bailout package. This week the market will watch closely for further assurances surrounding Greece’s problems and the European Central Banks press conference following their Thursday monthly meeting should provide further insight. With Greece’s default day just over two weeks away, any news could move the markets significantly so call in now for the latest update and the latest news.
The US dollar had a strong day on Friday strengthening against the majority of currencies as risk aversion became the main driver in the market once more. This week see’s the release of more unemployment data with recent positive releases leading the US economic recovery. The US recovery appears to be on track; but, as always volatility remains in the market. Call in now for the latest update and the latest news.
Elsewhere, Canadian GDP released on Friday was better than expected; but, did not cause create much of a reaction from the market. The Official bank rates of New Zealand, Australia and Canada will be revealed this week paving the way for potential volatility if the interest rate levels are altered to a level the markets do not anticipate. Call in now for the latest update and the latest news.
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Exchange rates can move very quickly. The above rates are valid at a moment in time. We have no crystal ball and we recommend that if an exchange rate works for your budget then don’t wait for an even better exchange rate - Murphy’s Law says the rate will go against you and cause you maximum pain! Suggestions should not be taken as advice or fact.
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