23/08/2012

EURO/GBP - 1.2657
US$/GBP – 1.5887
CHF/GBP – 1.5204
CAN$/GBP - 1.5728
AUS$/GBP – 1.5124
ZAR/GBP – 13.0851
JPY/GBP – 124.82
HKD/GBP – 12.3321
NZD/GBP – 1.9446
SEK/GBP – 10.5381
AED/GBP – 5.8319
US$/EURO - 1.2552
INR/GBP - 87.61  

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 had a relatively strong day yesterday despite the lack of any significant data released in the UK, strengthening against the majority of currencies and reaching a 3 month high of 1.59 against the US dollar after the Federal Open Market Committee (FOMC) meeting minutes were released. Another fairly quiet day for data in the UK today includes realised sales figures from the Confederation of British Industry (CBI) and statistics showing the number of new mortgage approvals in the previous month. Call in now for the latest rates

The euro traded fairly flat yesterday as investors waited on news of the meeting between the Greek Prime minister’s and the leaders of Germany and Luxembourg (also the Eurogroup chief). The Greek Prime minister planned to try and renegotiate the strict austerity measures that are currently in place; however, The Eurogroup chief said that Greece was now on its “last chance” and that it is still expected to implement all necessary reforms. Furthermore, there would be no discussion of any extensions or amendments to the bailout package until after the Troika report mid-September. Europe wide manufacturing and services Purchasing Managers' Index (PMI) will be the main news on the economic agenda today and should give further indication of the state of the economy’s of the nations across Europe. Call in now for the latest news.

The US dollar had a mixed day in the run up to the FOMC meeting minutes which were released yesterday evening. Following the release, the dollar was sold off sharply as the Federal Bank hinted that further quantitative easing or other means of monetary easing could be implemented shortly if the economy continues to struggle. On the data front, the number of existing homes sold in the previous month came in below market estimates. A fairly busy day for data in the US includes the number of new homes sold in the previous month, the change in the number of new people claiming unemployment benefits and manufacturing PMI figures will also be released. Get the latest news by calling in.

Elsewhere, the Canadian dollar struggled yesterday as extremely poor retail sales figures were released showing a 0.4% drop when a marginal 0.1% increase had been anticipated. Other data released included trade balance figures from Japan which showed the trade deficit was larger than expected. Overnight, Chinese PMI data was announced and then first thing this morning we saw the release of trade balance figures from Switzerland; but, very little other significant data is expected to be released throughout the course of the day. 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

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