EGBP/EUR - 1.2563
GBP/USD - 1.6191
EUR/USD - 1.2886
GBP/AED - 5.9481
GBP/AUD - 1.5564
GBP/CAD - 1.5906
GBP/CHF - 1.5190
GBP/HKD - 12.5512
GBP/INR – 86.25
GBP/JPY – 125.76
GBP/NZD - 1.9599
GBP/SEK - 10.6598
GBP/ZAR - 13.2693
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 relatively well yesterday but struggled against the US dollar and Japanese yen as risk aversion was the main driver in the market. On the data front, the Confederation of British Industry (CBI) revealed that the volume of sales had increased by more than expected from last month, but, the reaction in the market was fairly muted. Today’s final GDP figures for the second quarter will be closely watched by investors with present expectations of a reading of -0.5% as per the preliminary figures. However, some are hoping for a revision upwards with some economists predicting an improved final reading of -0.2%. Any variation away from the expected -0.5% would cause some volatility for sterling whilst news from Europe will also play an important role. Please call in now for the latest news and rates.
The euro struggled yesterday as the markets fear that Spain will delay asking for a full sovereign bailout which in turn saw the yields on Spanish 10 – year bond rising back above the 6% level. The Spanish government stated that it will put off requesting for a bailout until borrowing costs become too high, despite stating that the Spanish economy was shrinking at a faster rate than expected. More bad news for Greece came as a general strike took place in the face of the increased austerity measures that are expected to be announced shortly. However, without these measures the Troika will not grant Greece the next tranche of its bailout meaning Greece would in turn default on its debts. The Italian benchmark 10-year bond auction today will be watched closely by investors. The news surrounding Greece and Spain, and in particular Spain’s draft budget plans which are announced today are likely to have a significant impact on the euro’s relative strength. Call in now for the latest update and rates.
The US dollar performed well yesterday as risk appetite shifted to risk aversion due to fears surrounding Spain delaying their bailout request and data from the US revealing that the number of new homes sold in the last month had fallen when a significant increase had been expected. More housing data will be released today showing the change in the number of new homes pending sale in the last month, final second quarter GDP figures will be revealed and are expected to show modest growth of 1.7% whilst figures showing the change in the number of new people claiming unemployment benefits will also be announced. So a high news day and to get the latest news please call in.
Elsewhere, the Japanese yen performed well yesterday due to its safe haven status in a risk adverse marker, whilst the Polish zloty struggled. Overnight, business confidence data from New Zealand was released; but, it is a relatively quiet day otherwise. 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
GBP/USD - 1.6191
EUR/USD - 1.2886
GBP/AED - 5.9481
GBP/AUD - 1.5564
GBP/CAD - 1.5906
GBP/CHF - 1.5190
GBP/HKD - 12.5512
GBP/INR – 86.25
GBP/JPY – 125.76
GBP/NZD - 1.9599
GBP/SEK - 10.6598
GBP/ZAR - 13.2693
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 relatively well yesterday but struggled against the US dollar and Japanese yen as risk aversion was the main driver in the market. On the data front, the Confederation of British Industry (CBI) revealed that the volume of sales had increased by more than expected from last month, but, the reaction in the market was fairly muted. Today’s final GDP figures for the second quarter will be closely watched by investors with present expectations of a reading of -0.5% as per the preliminary figures. However, some are hoping for a revision upwards with some economists predicting an improved final reading of -0.2%. Any variation away from the expected -0.5% would cause some volatility for sterling whilst news from Europe will also play an important role. Please call in now for the latest news and rates.
The euro struggled yesterday as the markets fear that Spain will delay asking for a full sovereign bailout which in turn saw the yields on Spanish 10 – year bond rising back above the 6% level. The Spanish government stated that it will put off requesting for a bailout until borrowing costs become too high, despite stating that the Spanish economy was shrinking at a faster rate than expected. More bad news for Greece came as a general strike took place in the face of the increased austerity measures that are expected to be announced shortly. However, without these measures the Troika will not grant Greece the next tranche of its bailout meaning Greece would in turn default on its debts. The Italian benchmark 10-year bond auction today will be watched closely by investors. The news surrounding Greece and Spain, and in particular Spain’s draft budget plans which are announced today are likely to have a significant impact on the euro’s relative strength. Call in now for the latest update and rates.
The US dollar performed well yesterday as risk appetite shifted to risk aversion due to fears surrounding Spain delaying their bailout request and data from the US revealing that the number of new homes sold in the last month had fallen when a significant increase had been expected. More housing data will be released today showing the change in the number of new homes pending sale in the last month, final second quarter GDP figures will be revealed and are expected to show modest growth of 1.7% whilst figures showing the change in the number of new people claiming unemployment benefits will also be announced. So a high news day and to get the latest news please call in.
Elsewhere, the Japanese yen performed well yesterday due to its safe haven status in a risk adverse marker, whilst the Polish zloty struggled. Overnight, business confidence data from New Zealand was released; but, it is a relatively quiet day otherwise. 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
