This week - (Last week)
EURO/GBP 1.2701 - (EURO/GBP 1.2724)
US$/GBP 1.5614 - (US$/GBP 1.5522)
CHF/GBP 1.5255 - (CHF/GBP 1.5297)
CAN$/GBP 1.5514 - (CAN$/GBP 1.5604)
AUS$/GBP 1.4835 - (AUS$/GBP 1.4794)
ZAR/GBP 12.6744 - (ZAR/GBP 12.9650)
JPY/GBP 122.50 - (JPY/GBP 121.48)
HKD/GBP 12.1127 - (HKD/GBP 12.0434)
NZD/GBP 1.9281 - (NZD/GBP 1.9082)
SEK/GBP 10.4690 - (SEK/GBP 10.5401)
AED/GBP 5.7331 - (AED/GBP 5.7048)
US$/EURO 1.2287 - (US$/EURO 1.2193)
INR/GBP 86.41 - (INR/GBP 87.06)
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 fairly positive week and was particularly strong against the euro and the New Zealand dollar. The excitement surrounding the Olympics in the UK was clear to see; however, the biggest factor driving sterling’s strength was the Governor of the Bank of England’s comments which significantly reduced the probability of an interest rate cut in the near to medium turn due to his feeling that it would do more damage than good. Better than expected industrial and manufacturing data also helped support sterling in the early stages of the week. On a more negative tone, the Governor downgraded the UK’s growth forecasts whist trade balance figures showed that the trade gap had widened by more than anticipated to the widest level for 15 years. Out today, Producer Price Index (PPI) inflation data will be the main release on the agenda. Call in now to see how sterling is faring.
The euro started the week fairly strong due to the markets belief that the European Central Bank would continue to buy the government debt of Italy and Spain which had driven government bond yields down in the short term. This renewed confidence was short lived as the Bank of France downgraded their growth forecast which was then followed by the ECB cutting its own forecasts for 2012 to a deeper recession figure of -0.3%. More bad news came as German industrial production fell by more than anticipated and Standard and Poor’s (one of the big three credit rating agencies) lowered Greece’s CCC credit rating outlook to negative. With little data out today, the implication would be for low volatility and low volume trading; however, with so much uncertainty in Europe the markets can turn very quickly. Get the latest news by calling in.
The US dollar had a mixed week with little data released except figures from yesterday showing that the trade balance gap had shrunk by more than excepted and less people are claiming unemployment benefits. With little data out today, the markets will trade largely due to any significant developments elsewhere. Get the latest news by calling in.
Elsewhere, the main news came from the central banks where the Reserve Bank of Australian and the Bank of Japan both kept interest rates on hold as widely anticipated. Chinese Consumer Price Index CPI figures were slightly higher than expected; whilst, retail sales figures showed that growth continues to slow in the world's second largest economy; however, China “slowing down” is still an impressive 13.1%. Australian unemployment figures were better than expected but unemployment data from New Zealand missed market estimates. Chinese Trade balance data was released over night and the Reserve Bank of Australia Monetary Policy Statement was also released. Later today, unemployment data from Canada will be the main release; so, call in now for the latest news and a 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 1.2701 - (EURO/GBP 1.2724)
US$/GBP 1.5614 - (US$/GBP 1.5522)
CHF/GBP 1.5255 - (CHF/GBP 1.5297)
CAN$/GBP 1.5514 - (CAN$/GBP 1.5604)
AUS$/GBP 1.4835 - (AUS$/GBP 1.4794)
ZAR/GBP 12.6744 - (ZAR/GBP 12.9650)
JPY/GBP 122.50 - (JPY/GBP 121.48)
HKD/GBP 12.1127 - (HKD/GBP 12.0434)
NZD/GBP 1.9281 - (NZD/GBP 1.9082)
SEK/GBP 10.4690 - (SEK/GBP 10.5401)
AED/GBP 5.7331 - (AED/GBP 5.7048)
US$/EURO 1.2287 - (US$/EURO 1.2193)
INR/GBP 86.41 - (INR/GBP 87.06)
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 fairly positive week and was particularly strong against the euro and the New Zealand dollar. The excitement surrounding the Olympics in the UK was clear to see; however, the biggest factor driving sterling’s strength was the Governor of the Bank of England’s comments which significantly reduced the probability of an interest rate cut in the near to medium turn due to his feeling that it would do more damage than good. Better than expected industrial and manufacturing data also helped support sterling in the early stages of the week. On a more negative tone, the Governor downgraded the UK’s growth forecasts whist trade balance figures showed that the trade gap had widened by more than anticipated to the widest level for 15 years. Out today, Producer Price Index (PPI) inflation data will be the main release on the agenda. Call in now to see how sterling is faring.
The euro started the week fairly strong due to the markets belief that the European Central Bank would continue to buy the government debt of Italy and Spain which had driven government bond yields down in the short term. This renewed confidence was short lived as the Bank of France downgraded their growth forecast which was then followed by the ECB cutting its own forecasts for 2012 to a deeper recession figure of -0.3%. More bad news came as German industrial production fell by more than anticipated and Standard and Poor’s (one of the big three credit rating agencies) lowered Greece’s CCC credit rating outlook to negative. With little data out today, the implication would be for low volatility and low volume trading; however, with so much uncertainty in Europe the markets can turn very quickly. Get the latest news by calling in.
The US dollar had a mixed week with little data released except figures from yesterday showing that the trade balance gap had shrunk by more than excepted and less people are claiming unemployment benefits. With little data out today, the markets will trade largely due to any significant developments elsewhere. Get the latest news by calling in.
Elsewhere, the main news came from the central banks where the Reserve Bank of Australian and the Bank of Japan both kept interest rates on hold as widely anticipated. Chinese Consumer Price Index CPI figures were slightly higher than expected; whilst, retail sales figures showed that growth continues to slow in the world's second largest economy; however, China “slowing down” is still an impressive 13.1%. Australian unemployment figures were better than expected but unemployment data from New Zealand missed market estimates. Chinese Trade balance data was released over night and the Reserve Bank of Australia Monetary Policy Statement was also released. Later today, unemployment data from Canada will be the main release; so, call in now for the latest news and a 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
