GBP/USD - 1.5904
EUR/GBP - 0.8042
EUR/USD - 1.2782
GBP/AED - 5.8391
GBP/AUD - 1.5286
GBP/CAD - 1.5854
GBP/CHF - 1.4972
GBP/HKD - 12.3268
GBP/INR - 87.51
GBP/JPY - 129.06
GBP/NZD - 1.9438
GBP/SEK - 10.7122
GBP/ZAR - 14.0651
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Sterling struggled yesterday in the absence of any significant UK data being released, weakening off against the majority of currencies as risk appetite became the main driving force in the market. It is another quiet day for data in the UK today. The global focus will be firmly on the Eurogroup meeting today and the decision, if there is one, on Greek-aid. So pending any real catalyst to move sterling one way or the other we seem to be in a period of stability for sterling for the short term. Call in now to speak to a trader.
The euro enjoyed a day of gains yesterday as a report suggested that the Eurozone finance ministers will today give the go-ahead for a 44 billion euro aid payment to Greece. While the decision really amounts to little more than kicking the Greek debt problem further down the road, market nervousness will at least reduce down if the official announcement is made. As such, you might expect the euro to consolidate its gains as little other data will be released from Europe. Call now to book a price.
The US dollar struggled yesterday, losing ground against all major trading peers as a fall in risk aversion decreased demand for the safe-haven currency. News that Barack Obama is increasingly hopeful of reaching an agreement to help evade the looming Fiscal Cliff led to a sense of increased global confidence and a demand for riskier assets. We also saw the release of better than expected Home Sales data, coming out at 4.79 million between October and November which boosted market confidence. Today will see building permits data released for the same period and the markets will hope for a repeat of yesterday’s positive release. Call in now to see if the dollar will recover and to get a live rate.
Elsewhere, the Czech koruna, Hungarian forint and Polish zloty were the stand out performers yesterday as risk appetite drove the market. The Hungarian forint was particularly strong following better than expected third quarter public debt figures being released. Overnight, and first thing this morning we have had the Monetary Policy Meeting minutes from Australia and the Governor of the Reserve Bank of Australia was also speaking. Furthermore, the Bank of Japan had its monthly meeting, press conference and interest rate decision. There is not much else released throughout the day; but, call in now to reserve a rate of exchange.
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