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Posted September 30th, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1504 
US$/GBP -
1.5546
CHF/GBP -
1.4038
CAN$/GBP -
1.6202
AUS$/GBP - 1.5982
ZAR/GBP -
12.4075
JPY/GBP - 119.21
HKD/GBP -
12.1138
NZD/GBP -
2.0332
SEK/GBP -
10.6732
AED/GBP -
5.71
US$/EURO -
1.3492

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 climbed by 0.7% against the US dollar as rumours the Swiss National Bank may raise its amount of sterling holdings increases. The pound however, fell by 0.4% against the euro after German parliament voted in favour of approving another Euro zone rescue fund. This week has shown significant signs that sterling is in fact being led around by other currency pairs which makes its movement difficult to predict. Data out yesterday showed UK house prices rose by 0.1%. According to Nationwide, house prices are likely to remain stable until the end of 2011. Call in now for a quote.

In the Euro zone, the euro rose by 0.6% versus the US dollar after German policy makers approved an expansion of the euro zone bailout package. The measure passed with 523 votes in favour and 85 against. Though it was a largely expected decision, tension was still high. Germany will now put up €211 billion instead of €123 billion. Though the common currency seemed to be going rather steady this week, we may see it strengthen further as many feel the correct measures to solve the crisis are finally being taken. Data yesterday showed Germany’s unemployment rate decreased and is at its lowest level in two decades. Out today are Euro zone unemployment figures. Call in now for a live rate. 

In the US, the US dollar rose by 0.5% against the yen whilst it made slim losses versus the euro. There was some good news for the US yesterday with GDP figures showing the economy has grown 1.3% for the second quarter. Additionally, jobless claims decreased from last week. Despite this, the US dollar still slipped 0.2% against a basket of currencies. Many think that the appeal for the US dollar as a safe haven currency is being undermined by the possibility of further quantitative easing from the Federal Reserve next week. Out today are figures for US personal income and spending for the month of August. This may cause significant movement, so call in now for a rate.

Elsewhere, the Canadian dollar weakened against the US dollar yesterday as
the prices of commodities sold by Canada rose 0.5% from last month. Canada’s annual inflation rate reached 3.1% for August. Out today are Canada’s GDP figures. Call in now for a quote.

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 September 29th, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.1474
US$/GBP – 1.5616
CHF/GBP – 1.4011
CAN$/GBP – 1.6118
AUS$/GBP – 1.5944
ZAR/GBP – 12.2687
JPY/GBP – 119.58
HKD/GBP – 12.1791
NZD/GBP –2.0055
SEK/GBP – 10.5988
US$/EURO – 1.3602

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 remained steady against the US dollar yesterday and was slightly down versus the euro. With increasing market rumours that Greece will hold off on a default, market players felt somewhat confident and invested in riskier currencies. Expectations the Bank of England will put more quantitative easing on the table continues. Due to this, the pound is likely to remain weak for some time. Out today is net consumer credit for the month of August. Call in now for a rate. 

In the Euro zone, the euro rose 0.5% versus the US dollar and the pound. This was largely due to cautious optimism that the correct measures are now being taken to handle the debt crisis. Yesterday, German Chancellor Angela Merkel announced she will wait for a report on Greece’s progress before deciding on whether Germany will help fund a second bailout package. Germany is feeling the stresses of having to bailout financially weak countries, however, many feel Greece will meet targets and as a result, Germany will approve. Out tomorrow is German retail sales data. Call in now for a quote.

In the US, the US dollar weakened versus the euro due to a slight rise in risk appetite. The US dollar also made slim losses versus sterling. The latest economic data revealed US durable goods orders declined by 0.2% in August. This was mostly due to a decrease in demand for cars. Though it was in line with expectations, many are concerned that the US economy is not on a robust recovery, especially when housing and consumer confidence data is low. Out today are GDP figures, this may cause significant movement, so call in now for a rate.  

Elsewhere, China allowed the yuan daily currency peg reference rate to strengthen to its highest level since July 2005. The country remains determined to regulate inflation by having a stronger currency and this will be seen as a positive move by the US who have been arguing for a stronger yuan for years. Call in now for a quote.

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 September 28th, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1506
US$/GBP – 1.5634
CHF/GBP – 1.4059
CAN$/GBP - 1.6003
AUS$/GBP – 1.5822
ZAR/GBP – 12.2840
JPY/GBP – 119.71
HKD/GBP – 12.1941
NZD/GBP –1.9901
SEK/GBP –10.5712
US$/EURO - 1.3580

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 strengthened against the US dollar yesterday, following gains by the euro, as a rebound in global stock markets increased risk appetite and boosted confidence in sterling. There was a cautious optimism amongst investors that European policymakers were putting together a more solid plan to resolve the debt crisis, however, with nothing concrete announced, this was merely speculation. Sterling was up by 0.7% against the US currency and relatively flat against the euro, having earlier broken above the €1.15/£1 level. UK retail sales were disappointing, coming in at a 16 month low. Out today we have house price figures so call in now for a live exchange rate.

In the Euro zone, the euro rose against the US dollar on Tuesday. This was largely due to optimism that European policy makers are coming close to taking control of the on going debt crisis. There is speculation that the measures put forth have eased fears of a euro zone collapse. Data for German consumer confidence came in better than expected, despite fears of a looming recession and collapsing euro. The situation is very complex and as a result, no magic bullet will resolve the situation. Consequently, policymakers are locked in debate as to the best way forward. Call in now to ensure you don’t lose out.

In the US, the US dollar extended gains versus the euro and the yen as investors are becoming increasingly optimistic that a solution for the euro debt crisis is near. The US dollar fell by 0.7% against the common currency, but rose by 0.4% versus the yen. Data yesterday showed US consumer confidence edged slightly higher, however, it remained relatively unchanged since August. These figures suggest spending in the US is fragile and the economic environment is still weak. Out today are US durable good orders for August. Call in now for a live rate. 

Elsewhere, the Swiss franc declined versus the US dollar due to a drastic drop in Switzerland’s consumer demand which almost hit a 2 year low in August. There are concerns that Switzerland’s economy is slowing down due to the franc’s increase in value which has in turn hurt the nation’s demand for exports. The yen on the other hand has strengthened 6% this year. Out today are figures for Japan’s large retailer’s sales, this may cause significant movement so call in now for a quote.  

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 September 27th, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1498
US$/GBP – 1.5568
CHF/GBP – 1.4041
CAN$/GBP - 1.5965
AUS$/GBP – 1.5765
ZAR/GBP – 12.3641
JPY/GBP – 118.86
HKD/GBP – 12.1334
NZD/GBP –  1.9782
SEK/GBP – 10.5838
US$/EURO - 1.3536

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 appreciated by 0.7% against the euro yesterday as concern over the European debt crisis increased demand for the pound. Sterling also strengthened by 0.7% versus the US dollar. Despite these glimpses of strength, the pound is still suffering from last weeks’ one year low of $1.532/£1 and is increasingly under pressure from last week’s Bank of England minutes. The prospect of more monetary easing is likely to weaken sterling, making it less appealing for investors. Out today is Nationwide housing data which will indicate whether the price of housing has risen/ fallen in comparison to last year. Call in now for a rate.

In the Euro zone, the euro extended its losses against the US dollar after depreciating by 0.5%. The common currency also hit a decade low versus the yen. A key German Sentiment Survey came in higher than expected, but figures were still lower than last month. As Germany is one of the world’s largest exporters of manufactured goods, there is a slight worry that trading conditions may be slowing down. Whilst the euro made gains off this data, they were only temporary as there are severe concerns that the measures proposed from Sunday’s G20 meeting will not be enough to tackle the euro debt crisis. Investors expect a lot of volatility so call in now for a live rate.  

In the US, the US dollar slipped 0.4% versus the yen and made slim gains against the euro. US new home sales data came in as expected but figures are still at a six month low. It has become evident that despite low mortgage rates, Americans are flocking towards renting or buying second hand homes which are much cheaper. These figures should not come as a surprise as homebuilder sentiment is also at record lows. Out today is US consumer confidence, this could cause significant movement so call in now for a quote.

Elsewhere, the Canadian dollar depreciated by 0.8% to the US dollar. This is largely due to investors now seeking refuge in the greenback. The Swedish krona on the other hand was one of the best performers compared to other major currencies, strengthening 0.9% against the US dollar. The Norwegian krone also rose 0.8% against the greenback. Call in now for a live rate. 

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 September 26th, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1517
US$/GBP – 1.5456
CHF/GBP – 1.4044
CAN$/GBP - 1.6005
AUS$/GBP – 1.5994
ZAR/GBP – 12.8145
JPY/GBP – 117.97
HKD/GBP – 12.0527
NZD/GBP– 2.0122
SEK/GBP– 10.7488
US$/EURO - 1.3406


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 gained against the US dollar on Friday afternoon as investors took profits from the US currency’s earlier rally, but the pound remained close to a one year low on concerns over the global economic outlook. The pound also strengthened against the euro on speculation that Greece will not be able to secure another bailout package. These gains however were temporary as concerns over global economic growth continue. Data on Friday showed mortgage approvals in the UK increased by 14% from last year, with lenders granting up to 35,226 new loans to purchase homes. Out this week there is more housing data which may cause significant movement so call in now for a live rate.

In the Euro zone, the euro rose by 0.6% against the US dollar rebounding after an 8 month low. This was largely due to G20 policy makers’ meeting in Washington where they agreed to take the necessary measures to prevent the European debt crisis from undermining the financial market and the banks. Though this may have helped the common currency on Friday, investors are still uncertain that the measures put forth will be able to contain the debt crisis from spreading, not only to peripheral countries, but on a global basis. Reports over the weekend suggest that euro zone leaders are ready to throw trillions of euros at the debt crisis – call in now for a live exchange rate.

In the US, the US dollar extended losses versus sterling and the euro as market players placed bets on the greenback’s rally on Thursday. The US dollar also weakened against the yen trading at almost post World War II lows. The US dollar-yen relationship is a good indicator of how much or how little safety investors think they need. US stocks plunged again on Friday as there are growing fears of global economic stagnation. Out tomorrow is US consumer confidence data which will show how comfortable the public are with their spending. Call in now for a rate.

Elsewhere, the rand weakened 4.5% against the US dollar on Friday. South Africa’s central bank also left lending rates at a 30 year low of 5.5% to slow down any further price pressures. The yen on the other hand is strengthening on the back of economic turmoil. In fact, the yen has appreciated 11.4% in three months. Investors seek safety in the yen due to its surplus on current accounts. Call in now for a rate.

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 September 23rd, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.1395 
US$/GBP - 1.5420
CHF/GBP – 1.3930
CAN$/GBP -
1.5795
AUS$/GBP –
1.5694
ZAR/GBP –
12.7240
JPY/GBP – 117.65
HKD/GBP –
12.0280
NZD/GBP –
1.9635
SEK/GBP – 10.5295
AED/GBP - 5.665
US$/EURO – 1.3522
 

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 continued to lose ground against the US dollar on increased risk aversion and worries about the UK economy reaching its lowest level since December last year. Wednesday’s Bank of England minutes made it clear that further quantitative easing was likely and increased speculation over a possible interest rate cut from the current 0.5%. Out yesterday were UK factory export order figures which came in weaker that expected. Out today is house purchasing data for the month of August. This may cause significant movement so call in now for a live rate. 

In the Euro zone, the euro weakened against the US dollar being down 0.9%- the weakest level since January 2011. It also reached a 10 year low versus the yen. The Federal Reserve’s announcement which hinted that the global economy is headed for a recession led to increased risk aversion which meant that riskier assets such as the euro were sold. Even with Greece repaying two bond coupons at the start of this week, it has still not been enough to ease concern of Greece defaulting, especially when crucial data came in weaker than expected this week. Call in now for a quote.

The US dollar made significant gains against a basket of currencies hitting  a 7 month high versus the euro. After the Federal Reserve’s bleak economic outlook, investors retreated to the safe haven US dollar, as is does in times of market turmoil. This weeks Federal Reserve meeting unveiled a strategy called ‘operation twist’ which could potentially boost the US housing sector by bringing down long term interest rates. Many are already unsure if this programme will work. Call in now for a live rate. 

Elsewhere, Australia’s dollar depreciated 2.7% against the US dollar. Despite this, Australia’s GDP increased more than expected in the last quarter, due to a rise in consumer spending. The New Zealand dollar also extended losses versus the greenback as China’s manufacturing figures are predicted to be weak for this month. Call in for a live quote.

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 September 22nd, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1416
US$/GBP – 1.5491
CHF/GBP – 1.3961
CAN$/GBP – 1.5671
AUS$/GBP – 1.5473
ZAR/GBP – 12.7145
JPY/GBP – 118.71
HKD/GBP – 12.0830
NZD/GBP – 1.9418
SEK/GBP – 10.5346
US$/EURO – 1.3554

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 had a rocky day yesterday after the Bank of England minutes showed policymakers leaning towards another round of quantitative easing. This caused the pound to hit an 8 month low versus the US dollar and a 2½ year low against the yen.  The minutes revealed that policy makers’ outlook on a robust UK recovery is deteriorating with monetary easing likely to come into practice as soon as October. Data out yesterday also showed UK government borrowing rose unexpectedly in the month of August by £1.9bn. Out later on tomorrow are housing figures. Call in now for a quote.   

In the Euro zone, the euro fell 0.8% versus the US dollar whilst falling 1.4% over the past month among 10 developed nation currencies. Investor worry that Greece may default on its debt is still the focal concern. Greek government bonds also fell yesterday whilst Euro zone policy makers organise another meeting in Athens to try and resolve the country’s crisis. Out today there is German manufacturing data. As the largest economy in the Euro zone, this may cause significant movement, so call in now for a rate.

In the US, the US dollar appreciated 0.2% versus the euro as pressing concern over the Greek crisis continues to push investors towards safe haven currencies. Better then expected housing data came in yesterday with existing home sales increasing 7.7% since last month. Analysts have argued that it is largely due to a rise in the cost of rent. Many are waiting for the result of the Federal Reserve’s two day meeting which concludes today. Market players are expecting the Federal Reserve to announce further monetary easing for the US economy. Call in now for a quote.

Elsewhere, the New Zealand dollar depreciated versus the US dollar yesterday after data demonstrated the nation’s deficit widened more than expected. Due to the Euro zone crisis deepening and a slow down in the demand for goods, the Norges Bank left interest rates unchanged at 2.25%. Call in now for a live rate.  

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 September 21st, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1461
US$/GBP – 1.5690
CHF/GBP – 1.4052
CAN$/GBP - 1.5591
AUS$/GBP – 1.5265
ZAR/GBP – 12.1055
JPY/GBP – 119.81
HKD/GBP – 12.2264
NZD/GBP – 1.9076
SEK/GBP – 10.4054
US$/EURO - 1.3686

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 was up 0.1% versus the US dollar yesterday regaining ground from Monday’s 8 month low of $1.563/£1. This increase was largely due to a slight rise in risk appetite. Against the euro however, the pound was flat and hit a day low of €1.144/£1. Out later today we have the BoE (Bank of England) minutes which will determine whether more policy makers want to push forth for another round of quantitative easing. If this is the case, it will not only expand the BoE’s balance sheet, but may have a negative impact on sterling, so call in now for a rate. 

In the Euro zone, the euro fell slightly versus the US dollar after rating agency S&P downgraded Italy. Weak German data did not help the single currency either. German investor sentiment fell to its lowest in 3 years whilst German producer price index dropped 0.3%. On a more positive note, Greece declared that it has paid off two bond coupons worth 769 million euros. Worry over Greece’s ability to meet targets is still present. Out today is Euro zone industrial orders. Call in now for a quote.  

In the US, the US dollar was up against the euro but slipped 0.1% versus a currency basket. Housing data out yesterday showed an unexpected 3.2% rise in building permits for the month of August, reaching the highest level since January 2011. Many are waiting for the today’s announcement by Federal Reserve officials which may signal a third round of quantitative easing to decrease unemployment in the US. Just like the UK, if this measure were to be put in place, it would without a doubt dilute the value of the US dollar. Call in now for a live rate.    

Elsewhere, the safe haven Swiss franc weakened by 0.5% against the euro and 0.7% to the US dollar. This is likely to be due to market rumours that the Swiss National Bank may increase its previous euro intervention of €1.20 to €1.25. The Australian dollar also regained ground yesterday as global stocks rebounded in addition to commodities. Call in for a quote.  

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 September 20th, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1502
US$/GBP – 1.5680
CHF/GBP – 1.3874
CAN$/GBP – 1.5557
AUS$/GBP – 1.5361
ZAR/GBP – 12.1088
JPY/GBP – 119.93
HKD/GBP – 12.2245
NZD/GBP – 1.9142
SEK/GBP – 10.5282
US$/EURO – 1.3628
 

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 depreciated against the yen, hitting its lowest in over 2 ½ years. Despite this, the pound strengthened against the euro for a second day after data from the UK’s top property website, Rightmove Plc showed 0.7% increase in house values for September. Also out today was the BoE’s (Bank of England) quarterly bulletin which indicated that the quantitative easing programme introduced in March 2009 has raised UK GDP by 2%. Out tomorrow is the BoE’s minutes from this month’s meeting. Call in now for a rate.

In the euro zone, concerns over Greek default continue. European stocks terminated their four day rally whilst the common currency depreciated 1.4% against the US dollar. Many are worried that Greece will not meet the conditions of rescue loans. If this is the case, the country will not receive its sixth tranche of loans to prevent default. Additionally, with Germany’s ruling coalition receiving another electoral defeat, public dissatisfaction with Merkel’s choices regarding the euro zone is being becoming evident. Out today is German Producer Prices. Call in for a live exchange rate.  

In the US, the US dollar rallied against the Swiss franc due to growing concerns over a Greek default. Though the Swiss franc is the ‘go to’ currency in times of turmoil, the Swiss National Bank’s recent decision to weaken the currency against the euro has inadvertently pushed more investors towards the US dollar. Yesterday President Obama called for tax increases (mostly targeting high earners) as another part of his plan to cut the US deficit. Out tomorrow is the Federal rate decision. This may cause significant movement so call in now for a rate.  

Elsewhere, the rand depreciated to a one year low versus the US dollar. The South African currency fell as much as 2.1%, the weakest level since July 2010. Asian currencies also weakened, particularly South Korea’s won. There is increasing worry that Europe’s debt crisis is restricting global economic growth and in turn damaging the region’s exports. Out tomorrow is Canada’s Consumer Price Index. Call in now for a live rate

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 September 19th, 2011 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1481
US$/GBP – 1.5732
CHF/GBP – 1.3869
CAN$/GBP – 1.5468
AUS$/GBP – 1.5340
ZAR/GBP – 11.8562
JPY/GBP – 120.84
HKD/GBP – 12.2635
NZD/GBP – 1.9115
SEK/GBP – 10.5442
US$/EURO – 1.3684
 

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 regained ground versus the US dollar after hitting a session low of $1.574/£1. The pound also rose by 0.7% against a weaker euro. This is largely due to investors still uncertain on whether EU policy makers are taking sufficient steps to tackle the Euro zone debt problem. Despite sterling making these slim gains, there is still growing sentiment that another round of quantitative easing will be introduced by November to help revive Britain’s economy. Out this week are The Bank of England’s minutes. Call in now for a rate.

In the euro zone, the euro was down 0.7% against the US dollar after European finance ministers provided no indication of giving extra support to lenders. German Chancellor Angela Merkel also reiterated her objection to euro bonds on Friday. On the other hand, there is increasing speculation that all efforts are being undertaken by euro zone governments and we could see the common currency stabilise. Out this week we have German Producer Prices for the month of August. Things may become unpredictable so call in now for a live exchange rate.

In the US, the dollar rose 0.1% against the safe-haven Japanese yen. However, investors are still reluctant to take long positions in the dollar particularly ahead of the Federal Reserve’s September policy meeting scheduled for tomorrow and Wednesday. Investors are expecting the Federal Reserve to intervene in some form to stimulate the sluggish US economic growth. Many think borrowing costs for bonds will be kept low so as to support the US economy. Out this week there are US building home permits and home sales data. Call in now for a quote.

Elsewhere, the rand declined for a second week in a row and fell 0.9% to the US dollar. This is largely due to the deepening of the euro zone crisis which is slowing global economic growth. If the rand continues to decline, it will also eliminate the possibility of a cut in interest rates. On the contrary, Canada’s dollar made a weekly gain versus all of its 16 trading peers. There are bets that the Canadian currency will appeal to a number of investors during turbulent moments in the market. Call in for a live rate.

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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