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Posted January 17th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.2040
US$/GBP – 1.5374
CHF/GBP – 1.4576
CAN$/GBP - 1.5564
AUS$/GBP – 1.4751
ZAR/GBP – 12.3048
JPY/GBP – 117.74
HKD/GBP – 11.9368
NZD/GBP – 1.9206
SEK/GBP – 10.6334
AED/GBP – 5.645
US$/EURO - 1.2759
INR/GBP - 78.36

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 

Sterling fell against the US dollar on Friday as risk appetite dropped on rumours over an imminent mass credit rating downgrade of euro zone countries. Following the Bank of England’s meeting last week analysts now widely expect a fresh round of Quantitative Easing at next month’s meeting. The pound has now taken on a relative safe haven status against the euro, strengthening when markets feel concerned over the situation in the region. So far today we have seen the news that once economic forecaster believes that the UK is already in a second recession, blaming the crisis in Europe for damaging exports and high inflation for impacting consumer spending. Out this week we have inflation and unemployment figures so call in now for a live exchange rate.

In the euro zone, the euro continued to fall overnight hitting an 11 year low against the Japanese yen after rating agency S&P cut France’s top AAA rating and downgraded a further 8 euro zone countries. Continuing a 6 week drop against the US dollar, investors are concerned that the downgrades will impact on a fresh round of bond auctions that starts today with a French bond issue. The overall euro zone credit rating (adjusted for GDP) is now closer to AA- and goes to show how much further the crisis has left to run. Call in now for a live exchange rate.

In the USA, the US markets are shut for Martin Luther King day today, which could exacerbate volatility as liquidity is reduced. Bear in mind that with public holidays in the USA, US dollar transactions will take an extra day. Overall though, the US dollar is on an upward trend as investors look to the safety of the US currency in the face of market turmoil in the euro zone. Call in now for a live exchange rate.

Elsewhere, there is a wide array of Chinese data released in the coming week. There is monthly industrial and retail sales updates and many expect the Chinese economy to show signs of slowing. However, most expect any slowdown to be gradual and should be offset by a US recovery.

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

 

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Posted January 16th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.2064
US$/GBP – 1.5294
CHF/GBP – 1.4592
CAN$/GBP - 1.5604
AUS$/GBP – 1.4831
ZAR/GBP – 12.4454
JPY/GBP – 117.52
HKD/GBP – 11.8891
NZD/GBP – 1.9268
SEK/GBP – 10.7076
AED/GBP – 5.621
US$/EURO - 1.2675
INR/GBP - 78.85

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 

Sterling fell against the US dollar on Friday as risk appetite dropped on rumours over an imminent mass credit rating downgrade of euro zone countries. Following the Bank of England’s meeting last week analysts now widely expect a fresh round of Quantitative Easing at next month’s meeting. The pound has now taken on a relative safe haven status against the euro, strengthening when markets feel concerned over the situation in the region. So far today we have seen the news that once economic forecaster believes that the UK is already in a second recession, blaming the crisis in Europe for damaging exports and high inflation for impacting consumer spending. Out this week we have inflation and unemployment figures so call in now for a live exchange rate.

In the euro zone, the euro continued to fall overnight hitting an 11 year low against the Japanese yen after rating agency S&P cut France’s top AAA rating and downgraded a further 8 euro zone countries. Continuing a 6 week drop against the US dollar, investors are concerned that the downgrades will impact on a fresh round of bond auctions that starts today with a French bond issue. The overall euro zone credit rating (adjusted for GDP) is now closer to AA- and goes to show how much further the crisis has left to run. Call in now for a live exchange rate.

In the USA, the US markets are shut for Martin Luther King day today, which could exacerbate volatility as liquidity is reduced. Bear in mind that with public holidays in the USA, US dollar transactions will take an extra day. Overall though, the US dollar is on an upward trend as investors look to the safety of the US currency in the face of market turmoil in the euro zone. Call in now for a live exchange rate.

Elsewhere, there is a wide array of Chinese data released in the coming week. There is monthly industrial and retail sales updates and many expect the Chinese economy to show signs of slowing. However, most expect any slowdown to be gradual and should be offset by a US recovery.

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

 

Posted January 13th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1938 
US$/GBP - 1.5382
CHF/GBP – 1.4479
CAN$/GBP – 1.5639
AUS$/GBP – 1.4844
ZAR/GBP – 12.3756
JPY/GBP – 117.88
HKD/GBP – 11.9349
NZD/GBP-  1.9362
SEK/GBP-  10.6232
AED/GBP – 5.644
US$/EURO – 1.2846
INR/GBP -
78.98

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
 

Sterling fell to the lowest level against the euro in 7 weeks after speculation that the Bank of England will expand its Quantitative Easing programme as early as next month. The pound dropped as low as €1.1936/£1 in overnight trading after a better than expected Spanish debt auction and cautiously optimistic comments from European Central Bank President Mario Draghi. Yesterday also saw a wide array of UK retailers delivering their Christmas trading results – it was very much a mixed bag and put investors on the back foot, increasing concerns over the possibility of a double dip recession. Call in now for a live exchange rate.
 
In the euro zone, the euro strengthened to a 7 week high against the majority of its counterparts as ECB President Mario Draghi said that the supply of cheap money released by the central bank last month was helping to stabilise the banking system and in turn the euro zone economy. As a result, the euro made a recovery throughout the day and is back below €1.20 against sterling. However, many feel that the lack of a credible solution to the euro zone crisis is set to keep the euro under pressure over the coming months. Ensure you don’t lose out by speaking to one of the team sooner rather than later.
 
In the USA, the US dollar came under pressure yesterday as a result of the euro recovery following the success of the Spanish bond auction that gave risk appetite a boost. However, with poor industrial figures in the UK, sterling failed to capitalise on this boost to risk and many market analysts expect sterling to continue to fall off against the US dollar in the coming weeks and months.
 
Elsewhere, China’s foreign exchange reserves fell for the first time in a decade as foreign investment in the country fell and investors liquidated investments in emerging markets. China’s foreign exchange reserve is the world’s largest and has grown steadily – is it the first signs of a period of global rebalancing? We shall have to wait and see. Call in now for a live exchange rate. 

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

 

Posted January 12th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.2031
US$/GBP – 1.5306
CHF/GBP – 1.4588
CAN$/GBP - 1.5584
AUS$/GBP – 1.4859
ZAR/GBP – 12.3846
JPY/GBP – 117.64
HKD/GBP – 11.8809
NZD/GBP – 1.9249
SEK/GBP – 10.6192
AED/GBP – 5.617
US$/EURO - 1.2701
INR/GBP - 79.12

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
 

Sterling hit a 3 month low against the US dollar following the euro downwards as concerns grew over the euro zone crisis. Sterling dropped by 1% to a low of $1.5308/£1 – the lowest since early October – after risk appetite suffered off the back of comments by credit rating agency Fitch. The agency spooked markets with comments suggesting that the European Central Bank should do more to tackle the euro zone debt crisis. Despite falls against the US dollar, sterling held on to a 16 month high against the euro. Out later today we have the Bank of England’s monthly meeting which could cause some volatility. Call in now for a live exchange rate.
 
In the euro zone, the euro dropped to a 16 month low against the US dollar on the comments by an official from rating agency Fitch. Investors are feeling very wary ahead of today’s ECB meeting and Spanish and Italian bond auctions later in the week. Comments from Fitch made clear that the ECB should be buying Italian bonds to avoid a “cataclysmic” collapse of the euro. Call in now to ensure you don’t lose out to market volatility.

In the USA, the US currency strengthened against most of its counterparts as investors looked to the safety of US government bonds in the face of a worsening situation in the euro zone. The US dollar is set for further strength so call in now for a live rate.

Elsewhere, the Canadian dollar fell for the first time in 3 days as safe haven demand for the US currency drove demand for the US dollar and pushed riskier investments lower. Speculation over the euro zone crisis and a potential French rating cut saw demand for riskier investments. Get in touch for a live exchange 

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

 

Posted January 11th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.2115
US$/GBP – 1.5481
CHF/GBP – 1.4701
CAN$/GBP - 1.5708
AUS$/GBP – 1.5012
ZAR/GBP – 12.5259
JPY/GBP – 118.91
HKD/GBP – 12.0115
NZD/GBP – 1.9454
SEK/GBP – 10.6829
AED/GBP – 5.678
US$/EURO - 1.2752
INR/GBP - 79.86

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

Sterling hovered near a 16 month high against the euro on Tuesday as investor concern that the euro zone crisis will deepen saw sentiment fall towards the single currency. Sterling held on to gains against the US dollar despite a risk of sterling falling against the currency on safe haven demand from the US dollar in coming months. Out today there is trade balance data for the UK which could make interesting reading – call in now for a live exchange rate.
 
In the euro zone, sentiment towards the euro continued its downward spiral after Nicolas Sarkozy and Angela Merkel failed to reach a solution to the euro zone crisis on Monday and concerns grew that Greece is close to default. The more time taken by European officials over the debt crisis, the more that the euro is set to weaken against its counterparts. Out later today there is the final GDP figures for the 4th quarter of 2011 and tomorrow sees the ECB’s interest rate meeting, so call in now to ensure that you don’t lose out.
 
In the USA, the US dollar weakened marginally in US trading as market sentiment improved on the back of strong expectations for US corporate earnings and strong data being released from the USA. Data released on Monday showed that consumer credit for November expanded at an annual rate of 10% – the highest for 10 years. This increased lending is an indicator of an easing of lending restrictions by banks and a positive sign for the economy.
 
Elsewhere, data from China indicated that the country’s trade surplus had increased by more than expected. Figures showed that the country exported $16.5bn more than it imported last month – a 13% increase on November’s equivalent figures. 

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

Posted January 10th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2101
US$/GBP – 1.5478
CHF/GBP – 1.4675
CAN$/GBP – 1.5773
AUS$/GBP – 1.5017
ZAR/GBP – 12.5861
JPY/GBP – 118.74
HKD/GBP – 12.005
NZD/GBP – 1.9508
SEK/GBP – 10.6642
AED/GBP – 5.677
US$/EURO - 1.2768
INR/GBP – 80.81

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

Sterling again traded close to a 16 month high against the euro yesterday with investors concerned over the single currency following further negative news from the euro zone. A german magazine reported that the IMF was losing confidence with Greece’s ability to deal with its astronomic levels of debt. Sterling has been a major benefactor of ‘safe haven’ flows in recent weeks, with investors looking to the relative safety of the pound over the worsening euro. The main event for UK data is the Bank of England’s interest rate decision on Thursday, where the Bank is not expected to make any changes to current monetary policy. Call in now for a live exchange rate.

In the euro zone, tension over Greece mounted yet again as the country approaches another debt repayment horizon. With the IMF losing confidence in Greece and Germany and France warning that Greece would get no further bailout funds until it agrees on a bond swap, markets became more and more concerned. Sterling has now stabilised above €1.20/£1 against the euro for the first time since September 2010. Out later today there is French industrial production data so call in now for a live price.

In the USA, investors are starting to trade a new pattern that has emerged. Until recently, strong US data would see investors sell dollars and buy euros and other riskier currencies. However, this correlation has stopped as the euro fell against the euro on Friday’s better than expected non-farm payroll figures. Research in the US showed that the Fed is less and less likely to increase Quantitative Easing as the economy continues to recover. Call in now for a live price.

Elsewhere, the Canadian dollar slipped yesterday after data showed that unemployment had risen to 7.5% in December, which contrasts with the USA’s relatively strong showing last week. However, this should be a good thing for the Canadian dollar as a stronger US economy would mean higher demand for Canadian goods and services. 

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:

http://www.smartcurrencyexchange.com/quote.aspx  

Posted January 9th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2088
US$/GBP – 1.5430
CHF/GBP – 1.4701
CAN$/GBP – 1.5871
AUS$/GBP – 1.5106
ZAR/GBP – 12.5932
JPY/GBP – 118.62
HKD/GBP – 11.98
NZD/GBP – 1.9668
SEK/GBP – 10.6902
AED/GBP – 5.668
US$/EURO – 1.2761
INR/GBP – 81.15 

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

Sterling hit a fresh 16 month high against the euro on Friday and looks set to maintain strength against the single currency as investors that are concerned over sovereign borrowing in the region look to the relative safety of sterling. Data in the UK last week showed a pick up in activity across several sectors including services sector activity on Friday, however sterling dropped against the US dollar later in the day after stronger than expected US unemployment figures gave the US dollar a boost. In addition, figures showed that house prices dropped by 0.9% in December. It is a quiet day for data in the UK, but this week sees manufacturing, wholesale price inflation and the Bank of England’s first meeting of 2012 so call in now for a live exchange rate.

In the euro zone, it was a busy week on the bond markets last week with several key auctions attracting adequate demand. Sentiment towards the euro has been on a downward trend in the last few weeks and today’s meeting between Angela Merkel and Nicolas Sarkozy is unlikely to change that. This meeting will set the tone for the upcoming finance ministers’ and leaders’ summit later in the month. There is German industrial production data released today and also the European Central Bank’s first meeting of the year so make sure you speak to one of the team to ensure you don’t lose out.

In the USA, a strong run of data from the USA was compounded on Friday with the release of the latest non-farm payroll figures. These showed that the US economy added 200,000 jobs to the economy in the last month and that the unemployment rate dropped to 8.5% from 8.7% – the lowest for nearly 3 years. Many expect the US economy to recover at a much faster rate in 2012 so call in now for a live exchange rate.

Elsewhere, downbeat sentiment towards Europe has seen the US dollar start the week marginally up. The strong US dollar weighed on commodity prices, with copper, gold and oil all falling. With such strong US data on Friday, many would have expected risk appetite to improve but Europe is on investors’ minds. Call in now for a live exchange rate.

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

Posted January 6th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2118
US$/GBP – 1.5494
CHF/GBP – 1.4785
CAN$/GBP – 1.5794
AUS$/GBP – 1.5136
ZAR/GBP – 12.6388
JPY/GBP – 119.55
HKD/GBP – 12.0345
NZD/GBP – 1.9860
SEK/GBP – 10.7388
AED/GBP – 5.691
US$/EURO – 1.2775
INR/GBP – 81.80    

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

Sterling rose to the highest level against the euro for 16 months on worries over euro zone government borrowing and as data showed a boost in UK service sector activity. The pound hit €1.2113/£1, the highest since late 2010. The view that the UK economy will outperform the euro zone was given a boost by the news that service sector activity had beaten expectations to reach the highest level since July. Sterling however dragged against the US dollar as strong US employment figures boosted the US dollar and concerns over the euro zone boosted safe haven demand for the US currency. It is a quiet day for data today, with the focus elsewhere but volatility is still set to be high so call in now for a live exchange rate.

In the euro zone, the euro continued its downward spiral yesterday hitting multi-month lows against the US dollar and the pound. The issue this week is that investors are concerned over the ability of countries to raise funds on the bond markets. Having entered a period of bond auctions, Germany’s auction this week was pretty lacklustre and France had to sell at increased interest rates to attract investors yesterday. This saw a sell-off of euros again and with markets expecting sterling to breach €1.25/£1 by mid 2012, is there a possibility that we will see this sooner?

In the USA, the US dollar strengthened yesterday after better than expected unemployment figures added to a recent run of positive data coming out of the USA. Non manufacturing activity data slipped slightly, but today’s main attraction is the non-farm payroll figures that are expected to show a boost to the number of people employed. Call in now as this number has a propensity to cause volatility.

Elsewhere, it has been a volatile week for the commodity backed currencies, with safe haven demand for the US dollar and risk aversion impacting on volatility. Interest rates in Australia could potentially be dropping in the coming weeks, so call in now to ensure you don’t lose out.

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

Posted January 5th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.2054
US$/GBP – 1.5588
CHF/GBP – 1.4721
CAN$/GBP - 1.5828
AUS$/GBP – 1.5156
ZAR/GBP – 12.8080
JPY/GBP – 119.79
HKD/GBP – 12.1108
NZD/GBP – 1.9890
SEK/GBP – 10.6742
AED/GBP – 5.728
US$/EURO - 1.2907
INR/GBP - 82.18

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

Sterling climbed to a 15 month high against the euro yesterday after investors sought to diversify further away from the ailing euro and looked for safety in alternative currencies. With the UK economy – despite its weaknesses – looking relatively stronger than the euro zone, investors have been moving funds into UK based holdings.  With the UK economy set for a tough period as the government maintains austerity measures in order to keep the AAA rating, sterling could drop off later in the year. Call in now to ensure you take advantage of better euro rates.

In the euro zone, Germany managed to find adequate demand at an auction for 10-year government bonds yesterday but left the markets underwhelmed and concerned over the ability of sovereigns within the region to raise funding on the bond markets. The lacklustre bond issue sets up a tense few days as France looks to sell bonds on Friday and Italy and Spain do so next week. Poor demand on Thursday could be seen as a case for France losing its AAA rating, which would further dent the single currency. Call in now for a live exchange rate.

In the USA, the US dollar strengthened yesterday as risk appetite turned sour in the face of the poor bond auction in Europe.  US stock markets followed European stock markets down as concerns centred on the euro crisis once more. In terms of data, it was a light day yesterday but key unemployment figures are released later today ahead of the main non-farm payroll numbers on Friday.

Elsewhere, the drop in risk appetite saw the riskier commodity backed currencies fall back marginally yesterday as investors moved out of the higher yielding currencies and into safer options. Call in now for a live exchange rate.

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

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Posted January 4th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.1975
US$/GBP – 1.5631
CHF/GBP – 1.4618
CAN$/GBP - 1.5851
AUS$/GBP – 1.5095
ZAR/GBP – 12.6140
JPY/GBP – 119.97
HKD/GBP – 12.1671
NZD/GBP – 1.9820
SEK/GBP – 10.6684
AED/GBP – 5.752
US$/EURO - 1.3062
INR/GBP - 82.91

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

Sterling strengthened marginally against the US dollar yesterday after better than expected data globally helped to improve risk appetite and gave support to the pound. Manufacturing sector activity in the UK improved by more than expected but still showed the sector contracting, pointing to signs of a ‘double-dip’ recession in the coming months. Whilst sterling has benefited against the euro due to the European debt crisis, many feel that this ‘safe haven demand’ is glossing over cracks in the UK economy that could see it enter recession again in 2012. Either way, ensure that you take advantage of better exchange rates as sterling was in a similar position against the euro at the start of 2011 but failed to reach those levels again until December.

In the euro zone, the euro strengthened slightly against the US dollar and sterling yesterday after German unemployment figures came in far better than expected. Data showed that unemployment fell by 22,000 – 13,000 more than had been expected. Despite this boost to risk appetite, persistent worries over high sovereign debt levels in the region and a lack of solutions to a crisis that is now entering its 3rd year are set to keep the euro under pressure. Out today there is services activity figures so call in now for a live price.

In the USA, better than expected manufacturing figures saw the US dollar slip off as risk appetite increased. In addition, data showed an increase in spending on construction. The minutes from the Federal Reserve’s recent meeting yesterday evening showed that the Fed will now publish its interest rate forecasts in a bid to become more transparent. Call in now for a live exchange rate.

Elsewhere, tension is increasing in the Gulf as new US and EU sanctions take their toll on the Iranian economy. The Iranian riyal has fallen by nearly 40% against the US dollar in the last month as investors scramble to move savings into US dollars to protect themselves. There were also concerns as Iran threatened to take action against the US Navy if it moves an aircraft carrier back into the Persian Gulf, which has seen oil prices jump on fears over supply. Call in now for a live exchange rate.

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

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