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Posted October 29th, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.147
US$/GBP – 1.591
CHF/GBP – 1.567
CAN$/GBP - 1.628
AUS$/GBP – 1.633
ZAR/GBP – 11.171
JPY/GBP
– 128.39
HKD/GBP – 12.345
NZD/GBP – 2.109
US$/EURO – 1.386

Sterling had a poor start to the week on concerns over further Quantitative Easing that were hanging over the pound following last week’s relatively negative Bank of England minutes. This saw sterling hit a 7 month low of 1.1184/£1 against the euro on Monday. However, Tuesday’s GDP figures of 0.8% beat expectations and the UK credit rating outlook upgraded to “stable” from “negative” following spending review. Sterling hit highs of 1.1486/£1 and $1.5970/£1 on Thursday as a result of more positive sentiment towards the UK. This came despite figures showing that house prices fell by more than expected in the previous month and disappointing retail sales figures. Overall though, it was a good week for sterling as fears over further Quantitative Easing subsided. Call in now to speak to one of the traders about taking advantage of better exchange rates. 

In the Euro zone, the euro started the week strongly as a key member of the ECB stated that the central bank would look to raise interest rates sooner than the USA or UK. However, sterling jumped by nearly 3 cents against the euro following the surprisingly positive UK GDP on Tuesday. The euro also suffered after stronger than expected US data saw the euro drop below $1.40/1 and with many investors waiting to see how much additional funding the US Federal Reserve pumps into the economy next week, the euro was held back against the US currency. European data was mostly as expected but French consumer spending jumped by 3% and industrial orders improved by an unexpected 5.3%. As ever, ensure you speak to one of the team sooner rather than later to ensure you are protected.
 
In the USA, the US dollar fell to a 10 week low against sterling this week despite a slight recovery midweek. The main issue for the US dollar has been the issue of further Quantitative Easing which is widely expected to be implemented next week. Many investors have been taking out extreme ‘short’ positions against the US dollar. This has helped other currencies hit highs and despite last week’s G20 summit discussions over “currency wars”, the US dollar is still hovering around 15 year lows against Japanese yen. This is the key issue this week, so ensure you speak to a trader to avoid any unexpected volatility unduly impacting your payments.

 

The Australian dollar surged by nearly 1.3% against the US dollar this week on the news that Singapore stock exchange will buy the Australian stock exchange. In addition, a surprise jump in producer prices spurred speculation that the Reserve Bank of Australia would raise interest rates in their next meeting. Ensure you protect yourself against the volatility of the ‘commodity’ backed currencies by getting in touch ASAP. Have a fantastic weekend.

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

 

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Posted October 28th, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.140
US$/GBP – 1.578
CHF/GBP – 1.556
CAN$/GBP - 1.617
AUS$/GBP – 1.616
ZAR/GBP – 11.147
JPY/GBP
– 128.34
HKD/GBP – 12.242
NZD/GBP – 2.105
US$/EURO – 1.383

Sterling slipped back against the US dollar on Wednesday after investors pulled out of bets against the US currency on uncertainty over the level of additional Quantitative Easing being added to the US economy by the Federal Reserve. However, sterling held firm above the 1.14/£1 hitting a high of 1.1475/£1 on the day. Sterling has enjoyed a bumper 2 days after stronger than expected GDP data on Tuesday and a vote of confidence in the UK economy from Standard and Poors credit rating agency that upgraded the outlook for the UK’s ‘AAA’ credit rating from ‘negative’ to ‘stable’, citing the government’s spending review as evidence of the level of commitment to cutting the deficit. Yesterday saw Bank of England deputy governor Charlie Bean state that the figures this week had been surprisingly strong. Overall, the threat of further QE in the UK has been minimised, but not eliminated. Call in and speak to one of the team for a live quote. 

In the Euro zone, German inflation data came in as expected and French consumer spending jumped by 3% on last month. There was data released that showed more banks had taken up 3 month loans from the European Central Bank in the last period, but this was explained by it being cheaper to borrow from the ECB rather than any form of worsening of credit conditions in the region. The euro saw a similar response to sterling, slipping against a stronger US dollar on doubts over the level of Fed stimulus. Get in touch with one of the team now to ensure you are not losing out.
 
In the USA, the US dollar had a relatively strong day against most currencies aside from sterling, as investors await next week’s Federal Reserve meeting in which the Fed is expected to announce additional Quantitative Easing measures to help stimulate the US economy. An article in the Wall Street Journal stated that officials were keen to avoid a “shock and awe” approach and instead feed funding into the market gradually. This cast doubts over whether extreme bets against the US dollar were justified, and investors bought back into the US dollar. Speak to a trader now about fixing your exposure for the year above your budget level.

 

Elsewhere, the Australian dollar fell against major currencies after 3rd Quarter inflation figures fell, leaving the annual rate of inflation at 2.8%. This weighed heavily on the probability of future interest rate hikes. Speak to one of the team now to ensure you take advantage of the readjusted Australian dollar forecast.

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

 

Posted October 27th, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.146
US$/GBP – 1.581
CHF/GBP – 1.562
CAN$/GBP - 1.625
AUS$/GBP – 1.627
ZAR/GBP – 11.092
JPY/GBP
– 129.39
HKD/GBP – 12.273
NZD/GBP – 2.121
US$/EURO – 1.379

Sterling jumped against the euro and US dollar yesterday after surprisingly positive UK GDP data for the 3rd Quarter and a welcome vote of confidence for the UK from credit rating agency S & P. GDP growth came in at 0.8% for the 3rd Quarter against an expectation of 0.4%, boosted by construction activity that was stronger than expected. Sterling hit a high of 1.1453/£1 – a huge movement against Monday’s low of 1.1184/£1 – after the positive data cooled speculation over further Quantitative Easing in the UK. Against US dollar, sterling hit $1.5894/£1. Sentiment towards the UK also received a boost, as the credit rating agency S&P upgraded the outlook for the UK’s ‘AAA’ credit rating from ‘negative’ to ‘stable’ after citing the government’s spending review as evidence of the level of commitment to cutting the deficit. In terms of data tomorrow, it is fairly thin on the ground with a Bank of England policy maker speech the only event of note. Call in now to speak to a trader and take advantage of the recent spike in rates.  

In the Euro zone, the euro gave back recent gains with the biggest one day fall against sterling since June and a poor performance against the US dollar after US consumer confidence data came in better than expected. The euro has struggled against the US dollar in the last week as investors wait to see the full extent of the widely expected Quantitative Easing by the Federal Reserve in the USA. Closing below $1.40/1 has not helped the euro either, as this is a key psychological level that will not be broken until investors know more about what is happening in the USA. There is some inflation and loan data out tomorrow, so call in now for a live exchange rate. 
 
In the USA, the US dollar had a relatively strong day against most currencies aside from sterling, as investors await next week’s Federal Reserve meeting in which the Fed is expected to announce additional Quantitative Easing measures to help stimulate the US economy. The dollar also strengthened against the Japanese yen, coming off the 15 year lows as the Japanese government announced that they would “act decisively” in the currency markets if needed despite the apparent “ceasefire” announced in the “currency wars” over the weekend at the G20 summit in South Korea. There are key new home sales figures out, so call in now for a live price.
 
Elsewhere, the Swedish crown fell by 1% against the US dollar and 2.8% against sterling as (despite a hike in interest rates) it was announced that the next rate hike would not be for some time. Speak to one of team now for live pricing.

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

 

Posted October 26th, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.130
US$/GBP – 1.578
CHF/GBP – 1.533
CAN$/GBP - 1.608
AUS$/GBP – 1.592
ZAR/GBP – 10.911
JPY/GBP
– 127.54
HKD/GBP – 12.250
NZD/GBP – 2.098
US$/EURO – 1.396

Sterling fell to a 7 month low against the euro yesterday after being weighed down by the prospect that the UK economy might be in store for further Quantitative Easing by the Bank of England and mortgage approval figures disappointed. Sterling hit a low of 1.1184/£1 as financial markets begin to price in the possibility of further money being pumped into the economy by the Bank of England, and as the prospect of weak UK growth figures hit home. In addition, sterling hit a 20 year low against the Australian dollar, so it is a fantastic time to move Australian dollars into sterling. In terms of data, the ‘first estimate’ of UK GDP growth is released today and is expected to show a drop on last quarter to 0.4%. Any deviation outside of this is likely to cause significant volatility, so call in and speak to one of the team now to ensure you don’t lose out.

 
In the Euro zone, the euro gained against the US dollar and sterling yesterday – breaking through the 1.40/$1 and 1.12/£1 barriers before falling back. The euro’s strength against sterling gives an idea of how the financial markets view the UK economy. European debt no longer seems to be an issue, which is bizarre, given the European meltdown that people were talking about several months ago. Data released yesterday showed that industrial orders for the region increased by more than expected, coming in at 5.3% against an expectation of 2%. In terms of data for today, there is data on the consumer climate and also German import prices. Call in now – especially with the UK GDP figures being released.
 
In the USA, the US dollar weakened across the board as G20 leaders agreed to avoid competitive currency devaluation. However, the leaders stopped short of setting targets to stop global trade balances damaging the global recovery. As a result, the markets saw no reason to stop selling the US dollar as the focus shifted to the Federal Reserve’s next meeting on November 2nd-3rd. The US dollar hit a 15 year low against the Japanese yen and dropped by 1.3% against the Australian dollar on the news that the Singapore stock exchange would buy the Australian stock exchange. One positive piece of news for the US economy was that existing home sales jumped by 10% in September, so call in now and speak to one of the team about fixing your currency exposure.

Elsewhere, the Chilean central bank president said yesterday that the Chilean peso’s gain was comparable to other currencies general appreciations. With currency appreciation a concern, Chile is one of the only Latin American countries not to have implemented measures to curb the appreciation in its currency. With a global currency fast approaching, this could be interesting…

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

 

Posted October 25th, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.120
US$/GBP – 1.573
CHF/GBP – 1.525
CAN$/GBP - 1.602
AUS$/GBP – 1.578
ZAR/GBP – 10.830
JPY/GBP
– 126.67
HKD/GBP – 12.210
NZD/GBP – 2.086
US$/EURO – 1.404

Sterling fell to a 7 month low against the euro on Friday after sterling stayed on the back foot after Bank of England minutes earlier in the week suggested that the UK economy might be in store for further Quantitative Easing. In early trading today, sterling has dropped even further against the euro, hitting a low of 1.1184/£1 as financial markets begin to price in the possibility of further money being pumped into the economy. Data is fairly thin on the ground in the UK, with mortgage approval data later on today and Bank of England member Paul Tucker speaking at lunchtime. Ahead of next week’s monthly Monetary Policy Meeting, there are several members of the committee speaking publicly this week and their comments will be watched closely. Call in and speak to one of the team now to ensure you don’t lose out.

In the Euro zone, the single currency is so far trading up 0.4% this morning as investors back the euro over the ever weakening US dollar and sterling. The euro is benefiting after a key European policy maker made comments that the European Central bank would seek to scale back on the amount of monetary assistance – in sharp contrast to the USA and UK where the relevant bodies have been discussing adding more money to the respective economies. There is industrial order data for Europe released today which is expected to show an improvement on last month. Call in now for a live exchange rate.
 
In the USA, the US dollar weakened across the board in early trading as G20 leaders agreed to avoid competitive currency devaluation and sparking a ‘currency war’ between nations desperate to increase the flow of money into their economies by manipulating the exchange rate. This saw most Asian currencies strengthen as investors speculated that these currencies would see a jump in value after being kept artificially low against the US dollar for a number of years. With Fed Chairman Ben Bernanke speaking later today, speak to one of the team to take advantage.

Elsewhere, the Australian dollar surged by nearly 1.3% against the US dollar on the news that Singapore exchange will buy the Australian stock exchange. In addition, a surprise jump in producer prices spurred speculation that the Reserve Bank of Australia would raise interest rates in their next meeting. Speak to one of the team now about protecting yourself from strengthening currencies.

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Posted October 22nd, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.128
US$/GBP – 1.574
CHF/GBP – 1.523
CAN$/GBP - 1.613
AUS$/GBP – 1.601
ZAR/GBP – 10.924
JPY/GBP
– 127.58
HKD/GBP – 12.222
NZD/GBP – 2.102
US$/EURO – 1.394

Sterling fell to a 6 ½ month low against the euro yesterday after poor UK retail sales data left investors concerned that the Bank of England would look to inject further stimulus to restart the ailing recovery. Data released showed that retail sales dropped for the second month in a row which left many feeling that the recovery had peaked. Combined with the fact that Bank of England member Adam Posen voted for a resumption of stimulus through further Quantitative Easing, investors are seriously concerned about the prospects for the UK. The fallout from yesterday’s spending review did not help sterling either, with David Cameron and George Osborne vigorously defending the spending cuts. There are concerns that the cuts will adversely impact the growth prospects moving forward. Out today, there is no real data, so call in to ensure you don’t lose out.

In the Euro zone, there was a wide range of purchasing managers data released yesterday, with manufacturing figures coming in better than expected and services data slipping. Consumer confidence came in slightly worse than expected at -11 against an expectation of -10. Following relatively downbeat comments from US Treasury secretary Timothy Geithner, the euro gained 0.4% against the US dollar as investors piled in to the single currency on the belief that European interest rates would move away from the US rates. Call in now for a live exchange rate.
 
In the USA, the US dollar saw a lot of volatility yesterday as comments from Secretary Geithner left investors weighing up the impact of further Quantitative Easing. The prospect of further stimulus from the Federal Reserve has seen the US dollar slide by more than 10% against major counterparts. Unemployment claims fell by 25,000 on last week, but this did not stem the tide of US dollar weakness yesterday. With no real data released today, ensure you speak to one of the team to ensure you maximise the size of your payment.
 

Elsewhere, Chile has announced that it will help exporters hit by a strong Chilean peso by cutting red tape on customs regulations. Chile is on of the only Latin American countries that has not intervened to stem the advance of their currencies following large inflows of overseas funds. Speak to one of the team now to discuss the recent “currency wars” and ensure you are protected.

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Posted October 21st, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.129
US$/GBP – 1.575
CHF/GBP – 1.523
CAN$/GBP - 1.610
AUS$/GBP – 1.604
ZAR/GBP – 10.920
JPY/GBP
– 127.83
HKD/GBP – 12.232
NZD/GBP – 2.102
US$/EURO – 1.395

Sterling gained against the US dollar yesterday as George Osborne outlined plans for UK spending cuts but it fell against the euro as the Bank of England minutes showed one member voting for further Quantitative Easing. With plans for job losses, cuts to the welfare state and an increase in the retirement age, investors were encouraged by the government’s aggressive approach to cutting spending and fighting the budget deficit, sterling gained against the US dollar – hitting a high of $1.5875/£1. In a similar vein to what was seen after the election and the emergency budget, the markets gave the government a rubber stamp of approval for their plans. Against the euro, sterling went the other way hitting a low of 1.1339/£1 over concerns that further Quantitative Easing was on the way following the Bank minutes. Overall though, most of the damage has been done already in the run up to today and it was not as bad as many had predicted. Out today, there is retail sales data and Adam Posen (the MPC member that advocated further QE) speaks in Vienna. Get in touch now as his comments are likely to pretty downbeat.

 

In the Euro zone, German wholesale inflation data came in 0.1% better than expected, showing a 0.3% rise on the month. This helped boost the euro, alongside the relatively downbeat Bank of England minutes which contrasted sharply with their European counterparts who recently were a lot more upbeat about European monetary policy, with European Central Bank board member Juergen Stark quoted saying that the ECB may raise interest rates. There is a raft of European inflation data released today, so speak to one of the team now to avoid losing out.

In the USA, the US dollar was widely sold against other currencies yesterday as a report by a leading consultancy reported that the Federal Reserve planned to buy $500bn of debt to help stimulate the US economy. This saw the US dollar drop nearly 1% against the euro and sterling. The US dollar hit a 15 year low against the Japanese yen below 81 yen, which could potentially see further intervention by the Japanese government.

Elsewhere, the Australian dollar jumped by 2% against the US dollar as it rebounded from yesterday’s drop following the US report. In addition, ahead of this weekend’s G20 meeting in South Korea, currency is likely to be top of the agenda with the US government looking to ensure that currency values are set by the free market and not by ‘pegging’ (i.e. fixing the rate against the US dollar). Many countries (China being the main example) do this in order to maintain a weak currency and cheap exports, despite large flows of money that would otherwise see the currency strengthen and export prices rise. This is a key issue for the US, as US exporters are artificially priced out of the market which is having an impact on US GDP.

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Posted October 20th, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.140
US$/GBP – 1.571
CHF/GBP – 1.522
CAN$/GBP - 1.621
AUS$/GBP – 1.611
ZAR/GBP – 10.943
JPY/GBP
– 127.76
HKD/GBP – 12.202
NZD/GBP – 2.105
US$/EURO – 1.378

Sterling slipped across the board yesterday as weak UK factory orders caused concerns amongst investors ahead of today’s government spending review. Figures from the Confederation of British industry dropped even further than in September which raises doubts over the robustness of the manufacturing sector. With investors very sensitive to any perceived problems with the UK recovery ahead of Wednesday’s “perfect storm” of data – with the Government’s spending review and the Bank of England’s minutes released – sterling suffered. The Bank minutes are expected to show a 3 way split on monetary policy, so ensure you speak to one of the team ASAP to ensure you are not missing out once the dust has settled from today’s announcements.

 
In the Eurozone, German economic sentiment came in worse than expected at -7.2 against an expectation of -7, but sentiment for the region as a whole beat analyst expectations. In addition, the EU current account unexpectedly showed an additional 3bn deficit – rising from 4.4bn to 7.5bn in the last month. Out tomorrow, there is German inflation data. With the euro taking its lead from other currencies, this data is unlikely to have a great effect so call in to prevent the cost of your payment increasing.
 
In the USA, a surprise interest rate hike by China yesterday saw investors move into the safer haven asset of the US dollar as this was seen as a sign that the global recovery was flagging. The US dollar has come under significant pressure since September, as expectations of further monetary easing by the Federal Reserve has seen heavy selling of the currency. Many analysts believe that such a move by the Fed has already been ‘priced in’ i.e. the price is as if the Fed had already added further funding to the economy. As a result, we are likely to see sterling slip back from the $1.61/£1 it hit on Friday. Speak to one of the team now to ensure you are buying at the right time.

Elsewhere, as a result of the interest rate hikes in China, the Australian dollar took a hammering yesterday. With the Australian economy driven by booming demand from China over the last few years, any moves to dampen growth in the economy impacts heavily on expectations of demand for Australian exports. As a result, sterling gained over 0.8% against the currency. Speak to one of the Smart traders about using market orders to take advantage of any volatility.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.

Posted October 19th, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.138
US$/GBP – 1.582
CHF/GBP – 1.521
CAN$/GBP - 1.614
AUS$/GBP – 1.605
ZAR/GBP – 10.939
JPY/GBP
– 128.94
HKD/GBP – 12.278
NZD/GBP – 2.103
US$/EURO – 1.389

Sterling fell against the US dollar yesterday, coming off 8 ½ month highs as investors became concerned that the widely anticipated 2nd round of Quantitative Easing in the USA (known as “QE2”) would not be as aggressive as first thought. This saw investors reversing so called ‘short positions’ (i.e. bets against the US dollar) in order to protect themselves if the reality is more upbeat than sentiment currently suggests. The movement saw sterling eradicate gains it had made after data showed that house prices had risen for the first time in 4 months. Despite this, sterling remains vulnerable ahead of Wednesday’s “perfect storm” of data – with the Government’s spending review and the Bank of England’s minutes released. The Bank minutes are expected to show a 3 way split on monetary policy – the kind off uncertainty that will not make investors confident. Whilst there may be an element of this that is already priced in to the sterling price, there is still scope for significant volatility. Call in to speak to one of the team about minimising your outlay on your next payment.

 
In the Eurozone, it was a relatively quiet day for data in the region, with the major release coming on Thursday in the form of business surveys for manufacturing and services data. The single currency traded on sentiment, and similar to sterling, the euro slipped against the US dollar for the second day running as investors scaled back expectations over the scale of the Federal Reserve’s intervention. There is key economic sentiment data out for Germany later today. As the region’s largest economy, this can have a significant impact. Call in now for a live exchange rate.
 
In the USA, there was muted reaction to US industrial production figures, which showed a mild decline on last month. The key issue yesterday was trader concern over being too exposed to bets against the US dollar in case the next bout of Quantitative Easing is much lighter than expected. Out later today, there is housing data and Ben Bernanke speaks later this evening so ensure you speak to one of the team in case these events cause any unexpected movement.
 

Elsewhere, the Australian dollar slipped against the US dollar like all other majors yesterday, but did recover marginally to end the day just shy of AUS$1/ US$1 which it breached for the first time since 1983 on Friday. The conclusion of the weekend’s Plenary Session of the Communist Party of China sees the global powerhouse finalises the next 5 year plan. The result is expected to show that China is expected to focus on shifting GDP away from dependence on foreign exports and move towards domestic consumption.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.

Posted October 18th, 2010 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.144
US$/GBP – 1.584
CHF/GBP – 1.528
CAN$/GBP - 1.619
AUS$/GBP – 1.615
ZAR/GBP – 10.937
JPY/GBP
– 128.72
HKD/GBP – 12.291
NZD/GBP – 2.111
US$/EURO – 1.383

Sterling rose to the highest level against the US dollar since the end of January on Friday after Fed Chairman Ben Bernanke said that low inflation gave a case for more intervention by the Federal Reserve. Sterling hit a high of $1.6108/£1 – the highest since Jan 29th, but further gains were limited as the prospect of further monetary easing had already been priced in by many over the last few weeks. Against the euro, sterling gained marginally following demand to convert euro dividends into sterling. The key data out this week is released on Wednesday with the results of the now infamous spending review due alongside the minutes from the Bank of England’s recent meeting. With 2 members of the committee recently advocating further Quantitative Easing, these meeting minutes could see serious volatility – ensure you are protected before Wednesday to avoid losing out.

In the Eurozone, it is a relatively quiet week for data in the region, with the major release coming on Thursday in the form of business surveys for manufacturing and services data. Both figures are expected to show a slowdown, but with the focus on the US and UK this week as concerns over their respective recoveries grow, the euro is likely to have a relatively strong week. Call in now for a live exchange rate.
 
In the USA, with Ben Bernanke offering his most explicit signal yet that the Federal Reserve would start to pump further money into the economy, the US dollar slipped on Friday. However, with the US dollar at 8 month highs against the euro and sterling and at multi year lows against other currencies, many traders have pulled back on ‘short’ positions (i.e. bets against the US dollar) in order to protect themselves. Out today, there is US industrial production figures, so ensure you speak to one of the team in case these figures cause any unexpected movement.
 
Elsewhere, the Australian dollar moved above parity (1:1) against the US dollar on Friday for the first time since the currency floated in 1983. In addition, the Japanese yen hovered around 15 year highs against the US dollar sparking concerns that the Japanese government would start intervening to weaken the currency like they did in September. However, many have speculated that Japan do not want to intervene ahead of Friday’s G20 summit in order to avoid criticism over market manipulation at the meeting.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.

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