This week - (Last week)
EURO/GBP 1.2473 - (EURO/GBP 1.2451)
US$/GBP 1.5659 - (US$/GBP 1.5771)
CHF/GBP 1.4993 - (CHF/GBP 1.4958)
CAN$/GBP 1.6082 - (CAN$/GBP 1.6092)
AUS$/GBP 1.6042 - (AUS$/GBP 1.6051)
ZAR/GBP 13.061 - (ZAR/GBP 13.251)
JPY/GBP 124.75 - (JPY/GBP 124.98)
HKD/GBP 12.159 - (HKD/GBP 12.2534)
NZD/GBP 2.0751 - (NZD/GBP 2.0841)
SEK/GBP 11.232 - (SEK/GBP 11.401)
AED/GBP 5.7561 - (AED/GBP 5.7941)
US$/EURO 1.2557 - (US$/EURO 1.2668)
INR/GBP 87.08 - (INR/GBP 86.39)
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
A busy week for the UK saw sterling strengthen against the euro; but, weaken against the US dollar as risk aversion drove the market. Revised GDP data confirmed that the UK is officially in a “double-dip” recession with the latest figure showing a contraction of -0.3%. Retail sales figures were also much worse than expected revealing a -2.3% drop when only a -0.8% figure was expected. The International Monetary Fund (IMF) stated that the UK needs to consider injecting more money into the economy and potentially cutting interest rates to stimulate growth; however, despite this, the Bank of England’s policy meeting minutes revealed that the MPC members voted 8-1 to keep quantitative easing unchanged. All in all, a very negative picture of the state of the UK economy; so call in now to speak to one of our traders for the latest news and a live quote.
The euro weakened to a 22 month low against the US dollar this week as investors continue to flee the single currency due to the fear of a potential Greek exit and the ramifications that could follow. The Organisation for Economic Co-operation and Development (OECD) downgraded the growth forecasts in the EU and for Spain and Greece in particular. Furthermore, rumours started to circulate that EU policy makers have now started to put contingency plans in place for a potential Greek exit. German and Euro wide manufacturing PMI was worse than expected; moreover, German business survey figures were well below market expectations underlining the negative sentiment in the region. With the markets in turmoil due to the uncertainty surrounding Greece’s future; we will have to see if there is any respite for the euro in the coming weeks. Call in now for the latest news and a live quote.
The US dollar perf ormed well this week driven by its “safe haven” status in a risk adverse market. On the data front, US jobless claims came in as expected, durable goods orders figures missed market estimates and new and existing home sales figures both beat markets expectations. The US dollar tends to rally in times of crises as investors flee from riskier assets; we will have to see how long this trend continues; so, call in now for a live quote and the latest news.
Elsewhere, the main news out this week was that Fitch (one of the big three credit rating agencies) downgraded Japan’s sovereign rating to A+ with a negative outlook. Rumours started to circulate yesterday that the Swiss central bank had intervened causing EUR/CHF to spike to the highest price since March. The OECD also made the suggestion that Canada should look to raise interest rates to counteract inflationary pressure. Call in now for the latest news and a live quote.
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
EURO/GBP 1.2473 - (EURO/GBP 1.2451)
US$/GBP 1.5659 - (US$/GBP 1.5771)
CHF/GBP 1.4993 - (CHF/GBP 1.4958)
CAN$/GBP 1.6082 - (CAN$/GBP 1.6092)
AUS$/GBP 1.6042 - (AUS$/GBP 1.6051)
ZAR/GBP 13.061 - (ZAR/GBP 13.251)
JPY/GBP 124.75 - (JPY/GBP 124.98)
HKD/GBP 12.159 - (HKD/GBP 12.2534)
NZD/GBP 2.0751 - (NZD/GBP 2.0841)
SEK/GBP 11.232 - (SEK/GBP 11.401)
AED/GBP 5.7561 - (AED/GBP 5.7941)
US$/EURO 1.2557 - (US$/EURO 1.2668)
INR/GBP 87.08 - (INR/GBP 86.39)
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
A busy week for the UK saw sterling strengthen against the euro; but, weaken against the US dollar as risk aversion drove the market. Revised GDP data confirmed that the UK is officially in a “double-dip” recession with the latest figure showing a contraction of -0.3%. Retail sales figures were also much worse than expected revealing a -2.3% drop when only a -0.8% figure was expected. The International Monetary Fund (IMF) stated that the UK needs to consider injecting more money into the economy and potentially cutting interest rates to stimulate growth; however, despite this, the Bank of England’s policy meeting minutes revealed that the MPC members voted 8-1 to keep quantitative easing unchanged. All in all, a very negative picture of the state of the UK economy; so call in now to speak to one of our traders for the latest news and a live quote.
The euro weakened to a 22 month low against the US dollar this week as investors continue to flee the single currency due to the fear of a potential Greek exit and the ramifications that could follow. The Organisation for Economic Co-operation and Development (OECD) downgraded the growth forecasts in the EU and for Spain and Greece in particular. Furthermore, rumours started to circulate that EU policy makers have now started to put contingency plans in place for a potential Greek exit. German and Euro wide manufacturing PMI was worse than expected; moreover, German business survey figures were well below market expectations underlining the negative sentiment in the region. With the markets in turmoil due to the uncertainty surrounding Greece’s future; we will have to see if there is any respite for the euro in the coming weeks. Call in now for the latest news and a live quote.
The US dollar perf ormed well this week driven by its “safe haven” status in a risk adverse market. On the data front, US jobless claims came in as expected, durable goods orders figures missed market estimates and new and existing home sales figures both beat markets expectations. The US dollar tends to rally in times of crises as investors flee from riskier assets; we will have to see how long this trend continues; so, call in now for a live quote and the latest news.
Elsewhere, the main news out this week was that Fitch (one of the big three credit rating agencies) downgraded Japan’s sovereign rating to A+ with a negative outlook. Rumours started to circulate yesterday that the Swiss central bank had intervened causing EUR/CHF to spike to the highest price since March. The OECD also made the suggestion that Canada should look to raise interest rates to counteract inflationary pressure. Call in now for the latest news and a live quote.
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
