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Posted April 30th, 2010 by Charles Purdy

EURO/GBP – 1.154
US$/GBP – 1.537
CHF/GBP – 1.655
CAN$/GBP – 1.542
AUS$/GBP – 1.650

Sterling gained against the dollar and crept back against the euro as European officials stated that additional aid for Greece would be agreed soon. Sterling is trading at $1.5360/ £1 and 11.1560/£1. The prospect of an agreement on Greek aid helped stabilise market fears over debt default in the euro region. Polls soon after last night’s final prime ministerial debate saw David Cameron emerge as the ‘winner’ of the debate, but concerns remain over a hung parliament as none of the parties have a clear majority. A poll of economists showed a 60% probability of a hung parliament – much higher than a month ago. Also yesterday, a Nationwide house price survey showed prices rise by 1.0%, which was slightly higher than expected. Yet again there is no data out today in the UK, but the pound is still likely to trade on sentiment in the final few days of campaigning. Get in touch now for a live price.

In the Euro zone, talks between the European Union and the IMF continued yesterday with Greece being primed for another multi-billion dollar ‘austerity package’. Worries over Greece have been spilling over to concerns over Spain, Portugal and Ireland and this has caused investors to sell the euro against other currencies. The euro hit 1.3225/$1 as risk aversion continued to drive a flight of funds into US dollars. On a relatively positive note, German unemployment fell by 68,000 on the previous month which was much better than expected. However, this had little or no effect on the negative sentiment caused by the debt crisis. Out today, there is European unemployment data. Call in today for a price – especially if you are holding euros, as the euro looks likely to weaken.

In the USA, unemployment claims for the month grew by 6,000 more than expected however the focus is on today’s market data. Out later we have the US first quarter GDP figures which are expected to show a rise of 4% as confidence has grown and economic data has improved. There is a lot of volatility in the market, so get in touch now for a live exchange rate.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

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Posted April 29th, 2010 by Charles Purdy

EURO/GBP – 1.151
US$/GBP – 1.522
CHF/GBP – 1.651
CAN$/GBP – 1.534
AUS$/GBP – 1.644

Sterling fell yesterday against the US dollar following the fallout from the Greek debt crisis that caused investors to flee to safer assets. The UK came under renewed examination in the run up to the election as analysts predicted that the crisis over government debt could spread further.

With most opinion polls pointing to a hung parliament, the pound suffered as no party would currently have the majority to push through legislation to clear the UK’s record deficit. Despite speeches from the Liberal Democrats over a ‘balanced government,’ or a coalition, markets like certainty and strong decisive government.

The pound hit a 3 week low of $1.5129/ £1 before recovering slightly towards the end of the day. Sterling stayed in a narrow range against the euro throughout yesterday but has dropped this morning after Spain suffered a credit downgrading. Further issues were caused by Gordon Brown’s shocking gaffe on the campaign trail.

There was no data out in the UK yesterday – out today, we have a house price report from the Nationwide which is expected to show a mild decline in the rate of growth in house prices. There is also the final prime ministerial debate tonight which could see more instability. Call in now on 0207 898 0549 for a live exchange rate as they are moving around quite a bit.

In the euro zone, following Tuesday’s downgrading of Greek debt to ‘junk bond’ status, the IMF (International Money Fund) is believed to have stepped in swiftly to begin negotiations over further bailout funding. The IMF chief Dominique Strauss-Kahn is rumoured to be looking at increasing the rescue package to 100-120bn over three years as opposed to the initial 45bn that was agreed several weeks ago.

This helped strengthen the euro.

Out today we have German unemployment data and money supply data. In addition, the investment bank UBS have predicted that the euro will fall to 1.20/ $1. Call in now on 0207 898 0549 to ensure you don’t miss out.

In the USA, the US dollar is still the gauge of global opinion towards risk in the economy. As a result, following yesterday’s issues in the euro zone many investors fled from UK investments to the US and as a result, the Dow Jones stock market in the USA closed higher yesterday. There is US unemployment data out today. Call in today on 0207 898 0549 for a live exchange rate.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted April 28th, 2010 by Charles Purdy

EURO/GBP – 1.154
US$/GBP – 1.518
CHF/GBP – 1.653
CAN$/GBP – 1.547
AUS$/GBP – 1.656

Sterling fell marginally yesterday against the US dollar and euro as fresh opinion polls cast fresh doubts over a hung parliament. Some minor mortgage approval data and retail sales data came in worse than expected but the closer we get to the election, the more obsessed the markets are with each opinion poll. The pound has managed to stay above the 1.52/ £1 and 1.15/ £1. The biggest news yesterday was the downgrading of Greek government debt to ‘junk bond’ status by rating agency S&P who also cut Portugal’s rating by two tiers. This has sent jitters through the world’s stock markets and explains the pound’s drop against the US dollar, but overall sterling has held up well. Out today, there is no UK data, so call in for a live price as sentiment over opinion polls and Greece could drive the markets anywhere.

In the Euro zone, interest paid on 2 year Greek bonds has spiralled towards 15% reflecting the extreme lack of confidence in the country’s ability to repay its debt. Follow the downgrading to ‘junk bond’ status by the rating agency S&P the FT is reporting today that the International Monetary Fund may increase its share of financial aid to the country by a further 10bn. There is little scheduled data out today – expect the markets to trade on decreased sentiment as the euro experiences the knock on effects of this major shock to investor risk appetite. Call in now for a live price.

In the USA, the US dollar has strengthened in the wake of increased risk aversion. Following a fairly light day on the calendar yesterday, the main event of today is the US Federal reserve’s latest monetary policy meeting. Whilst the outlook for the US has improved, it has not recovered sufficiently to warrant an increase in interest rates from the 0%-0.25% range. The markets will be watching closely for any hints of when the rate rise will take place. With Greece, US interest rates and the UK election on the agenda, we could see serious volatility. Call in now for a quote.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted April 27th, 2010 by Charles Purdy

EURO/GBP – 1.152
US$/GBP – 1.538
CHF/GBP – 1.654
CAN$/GBP – 1.541
AUS$/GBP – 1.664

Sterling matched the highest level of the year against the euro yesterday as Greek debt uncertainty caused the euro to suffer. The pound hit 1.1620/ £1 in early trading yesterday (matching a 5 month high last seen in January) as the latest opinion polls showed the Conservatives winning a majority at the election in 10 days time and avoiding the dreaded hung parliament that has caused so much downward movement of sterling since the beginning of 2010. There was no data out yesterday aside from some house price data, so sterling benefited from better sentiment towards the UK. Out today, there is data on consumer spending which has the potential to cause volatility. Call in now to avoid the market moving against you as this is relative to the first 5 months of the year a great time to buy euros.

In the Euro zone, global investors grew impatient over the Greek bailout following the activation of the facility by the country last week. Some Canadian ministers added to concerns over the weekend by suggesting that 43bn would not be enough to sort the country’s finances out. As it stands, the pound is poised to benefit from the deteriorating situation in the region – especially if there is no hung parliament. Are we heading towards 1.20/ £1 sooner than expected? If so and you need to move euros into sterling, better get in touch before it is too late. Out today, there is some German economic data that is unlikely to impact on the current sentiment. Call now for a live price.

In the USA, there was no data out yesterday and the pound reached a high of $1.5496/ £1 as sentiment towards the UK improved following the poll results and poor market reaction to European news. The sterling/ US dollar price is currently a clear indicator of market feeling towards the UK. Upwards of $1.54/ £1 and feeling is good, down towards $1.50/ £1 and sentiment is poor. The volatility has been high over the last few weeks. Any news that could be perceived as negative can cause the price to drop rapidly. Call in now to take advantage of prices whilst they are good.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted April 26th, 2010 by Charles Purdy

EURO/GBP – 1.159
US$/GBP – 1.546
CHF/GBP – 1.664
CAN$/GBP – 1.544
AUS$/GBP – 1.664

Sterling had a very volatile week last week and despite the GDP figures coming in at 0.2% for the first quarter (0.2% less than expected), the pound has started the week strongly. Sterling is currently trading at $1.547/ £1 and 1.1560/ £1 – up around 0.6% against both currencies. Despite house prices growing at only 0.2% in April – the slowest rise in 3 months – the pound is up as a result of increased risk appetite following strong stock market performance overnight in Asia. Stock markets have been performing well as the first quarter ‘earnings season’ (when companies release earnings figures) has seen very strong results from many businesses, helping to fuel speculation that the recovery is fully underway. There is very little data out today, so sentiment will drive the market. Get in touch now for a price as we could see further volatility this week in the final days before the election.

In the Euro zone, with news that Greece has now activated the 45bn facility that was made available by the IMF, the euro has weakened against the US dollar and sterling. Greece has been the stalking horse of sovereign debt crisis in the region, with many investors beginning to predict problems elsewhere – an issue that could see the region in trouble for many years to come. Belgium is beginning to join Spain, Portugal, Ireland and Greece on the list of potential defaulters. There is little data out today. If you have euros to move into sterling/ US dollars, the euro could well weaken as a result of the debt crisis. Get in touch now to make sure you don’t miss out on these prices.

In the USA, with no data out today, expect the markets to move on sentiment. Despite an election looming in the UK, sterling is at the best prices against the US dollar for almost 10 days. If you need to buy US dollars, it would seem advisable to take advantage of prices at this level as we could see a lot of movement in the next 2 weeks over the election. Call now for a live rate.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted April 23rd, 2010 by Charles Purdy

EURO/GBP – 1.159
US$/GBP – 1.538
CHF/GBP – 1.661
CAN$/GBP – 1.537
AUS$/GBP – 1.671

Sterling hit a 12 week high of 1.1583/ £1 against the euro yesterday and has briefly broken through the 1.16/ £1 this morning – buoyed by better than expected data on UK public finances and euro weakness related to the Greek debt crisis. UK public sector borrowing was better than expected, despite the fact that the UK’s deficit is the highest since World War II. Retail sales data came in slightly worse than expected at 0.4% on an expectation of 0.6%, but had little effect on the pound. With political uncertainty still rife in the run up to the May 6th election, all eyes were on last night’s second prime ministerial debate. The debate was a lot more evenly matched and initial polls had David Cameron as the winner of the debate. Out today we have the first estimate of GDP data, which is expected to show that the UK economy grew at a rate of 0.4% in the 1st Quarter. This week demonstrates why it is so important to be registered with a currency specialist. We saw the pound jump up by half a cent over the course of 15 minutes before dropping back down shortly after. Registered clients were able to take advantage straight away rather than trying to set up an account, which by the time it was open was too late to get the price they wanted. Call in today for a price and to talk to a currency specialist about how to avoid losing out on favourable rates.

In the Euro zone, the single currency came under heavy selling pressure after Greece’s budget deficit was revised upwards to 13.6% from 12.7% and credit rating agency Moody’s cut Greece’s rating to A3 from A2. As a result, the investors demanded when buying Greek government bonds increased yield and as a result we saw demand for the euro fall. Aside from this, purchasing manager data was relatively positive but had little effect on the price. Out today, there is retail sales data and ‘business climate’ data. Expect these to have little or no effect and the focus to remain on the Greek crisis. Get in touch now for a live price.

In the USA, the number of people claiming unemployment benefits dropped by 24,000 – about 4,000 short of what was expected. This saw the US dollar strengthen marginally against the pound, finishing the day 0.2% up at $1.5370/ £1. Following the events in the Euro zone the US dollar strengthened 0.6% and finished the day close to the $1.33/ £1 mark. Out today, there is data on durable goods orders and new home sales. Call in now to avoid the market adversely moving against you. Have a fantastic weekend in the sunshine (hopefully…)

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted April 22nd, 2010 by Charles Purdy

EURO/GBP – 1.151
US$/GBP – 1.543
CHF/GBP – 1.649
CAN$/GBP – 1.538
AUS$/GBP – 1.660

Sterling hit a 2 month high against the euro as the number of people claiming unemployment benefits dropped sharply for the second month running. Sterling hit 1.1512/ £1 against the euro as the claimant count dropped by 32,900 – the sharpest drop since June 1997. The pound rose against the US dollar on the data too hitting $1.5437/ £1 at one point. The strong data released over the last few days has prompted traders to speculate that the Bank of England would look to raise interest rates towards the end of the year. Many were wary of following the pound any further due to the political uncertainty in the run up to the election. Out today, we have public sector borrowing which is expected to increase in line with the Chancellor’s forecasts. In addition there is monthly retail sales data which is expected to show a slight decline following last month’s 2.1 % jump. Given where we have come from it is great time to buy US dollars and euros. Get in touch now for a price.

In the Euro zone, there was no data out yesterday and as a result the euro traded on sentiment against sterling. With the Euro zone seen as high risk by many following the high levels of sovereign debt in the region, the euro is suffering from poor sentiment. Out today, there is a relatively large amount of purchasing managers index data which is expected to show a marginal improvement. ECB President Trichet speaks as well. Get in touch now for a price.

In the USA, there was little data out yesterday and as a result the US dollar traded on risk appetite. With the strong UK fundamental data, the US dollar fell against the pound as investors moved into ‘riskier’ sterling denominated assets. It is a relatively good time to look at buying US dollars – call in now to avoid the price dropping back down and missing out.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted April 21st, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.144
US$/GBP – 1.538
CHF/GBP – 1.641
CAN$/GBP – 1.529
AUS$/GBP – 1.650

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Sterling rose yesterday as inflation rose more than expected. Consumer prices rose 3.4% on the year against an expectation of 3.2% and retail prices rose by 4.4% against an expectation of 4.1%. This unexpected jump fuelled speculation that the Bank of England may look to raise interest rates in the fourth quarter. The pound hit a high of $1.543/ £1 and 1.1436/ £1 but was held back from moving any higher by concerns over the election. Unexpected support for the Liberal Democrats has prompted renewed speculation that a hung parliament would leave the next Government with no clear majority to pass the tough legislation required to clear the UK’s record deficit. Today we have unemployment data and the minutes from the Bank of England’s recent meeting. With sterling seemingly having difficulty in holding above 1.140/ £1 and with the uncertainty of election, it might be worthwhile taking advantage of prices at that level. Call in now for a price.

In the Euro zone, a large amount of positive data was released yesterday. The trade balance came in almost 2bn better than expected, manufacturing prices rose and economic sentiment jumped by almost 10 points on last month following the Greek bailout agreement. However, despite the positive data, the euro suffered as investors remained wary of buying the single currency as the risk from debt default in the region remains high. As a result the euro fell against both sterling and the US dollar. Given that the risk of default by Governments in the region remains high, the euro is unlikely to push much further against sterling. If you need to move euros into sterling/ US dollars – it might be worthwhile looking at doing this now and avoiding the markets moving against you.

In the USA, risk appetite returned to the market as tension eased over the indictment of Goldman Sachs for fraud as the bank posted better than expected profits of $3.5bn for the last quarter. This saw US stock markets rally and demand for US bonds falter. As a result, the US dollar dropped against sterling as traders bought in to the UK’s strong data. Out today, there is relatively little data. Call in now for a price as there is potential for a lot of volatility in the run up to the UK election.

Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UKor fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Posted April 20th, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.140
US$/GBP - 1.538
CHF/GBP – 1.635
CAN$/GBP – 1.555
AUS$/GBP – 1.652

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Sterling fell by 0.6% against the US dollar yesterday reaching a low of $1.5194/ £1 – the lowest since April 8th. The pound’s fall was further fallout from last week’s first televised election debate. The markets were yet again left reeling by the prospect of a hung parliament as a YouGov poll for the Sun and a BPIX survey for the Mail on Sunday put the Liberal Democrats in front in the run up to the election. Given the ‘first past the post’ electoral system, this result would see a hung parliament. Investors are moving to the safer US currency as uncertainty surrounds the result. There are 2 further televised debates in the next two weeks and these are likely to have similar effects on volatility. Out today, we have consumer and retail price inflation data for the UK – call in today for a price to ensure you don’t miss out.

In the Euro zone, the euro strengthened by 0.2% against the pound ending the day at 1.1350/ £1. There was no real data out yesterday, and as a result, the euro stayed in a relatively tight range against the pound and US dollar. Out today, there is sentiment data for the euro zone which is expected to show a marginal improvement following the recent announcement of a bail out for Greece. In addition, we have producer price inflation for Germany. Get in touch now for a price to avoid volatility adversely impacting your payment.

In the USA, following last week’s indictment of Goldman Sachs for defrauding investors, the Dow Jones stock market fell 1.1% and the S&P 500 fell 1.6% as investors fled equities for safer assets. This, combined with the concerns over the UK’s political situation saw the US dollar strengthen as aversion to risky assets took centre stage. There was little data out yesterday – today Ben Bernanke continues to testify to Congress. Get in touch now for a price.

Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UKor fill out our quote form: http://www.mailm.co.uk/1/link.php?M=1446601&N=3489&L=3591&F=H

Posted April 19th, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.133
US$/GBP – 1.524
CHF/GBP – 1.624
CAN$/GBP – 1.549
AUS$/GBP – 1.660

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Sterling fell towards the end of last week following the first Prime Ministerial election debate, as the strong performance by Nick Clegg raised the prospect that neither Labour nor the Conservatives would gain an outright majority at the election. Fifty one percent of respondents in a YouGov poll felt that the Liberal Democrat leader had come out on top leading to fresh concerns that a hung parliament would hamper efforts to put in place a cogent plan to clear the deficit. It is a busy week for economic data, with inflation data out on Tuesday, the Bank of England minutes and jobless claims data out on Wednesday, retail sales on Thursday and the first estimate of first quarter gross domestic product out on Friday. The trade deficit and industrial output has come in better than expected recently, so a positive GDP figure is expected. Despite this, there is a lot of potential for volatility this week so get in touch now for a price.

In the Euro zone, the euro fell against most currencies last week in the wake of the Greek bailout package as investors began to recognise that the Greek economy is in a very dire state. So far today, the single currency has fallen against the US dollar as risk aversion boosts demand for the relative safe-haven of the US dollar and even after Goldman Sachs were indicted for fraud by US regulators. There is very little data out today in the Euro zone. Call in now for a price to ensure that the market doesn’t move against you.

In the USA, following the indictment of the investment bank Goldman Sachs for investment fraud, the US dollar is enjoying a safety-linked boost this morning – currently trading at $1.5230/ £1. In addition, Fed Chairman Ben Bernanke seemed more upbeat last week about US recovery prospects when he addressed US Congress. Out today we have US ‘leading indicators’ for March which are expected to show a continued month on month improvement. Caution is advised however, as high unemployment and weak credit have not disappeared. Call in now for a price, as there is potential for large movements this week as risk appetite and aversion drives large swings between sterling and US dollar.

Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UK
or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

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