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Posted September 28th, 2012 by Charles Purdy

Daily Currency Note 28th September 2012

This week (Last week)
GBP/EUR – 1.2572 (GBP/EUR – 1.2511)
GBP/USD – 1.6250 (GBP/USD – 1.6248)
EUR/GBP – 0.7953 (EUR/GBP – 0.8002)
GBP/CHF – 1.5217 (GBP/CHF – 1.5137)
GBP/CAD – 1.5907 (GBP/CAD – 1.5842)
GBP/AUD – 1.5539 (GBP/AUD – 1.5526)
GBP/ZAR – 13.3958 (GBP/ZAR – 13.4520)
GBP/JPY – 125.95 (GBP/JPY – 126.98)
GBP/HKD – 12.5998 (GBP/HKD – 12.5969)
GBP/NZD – 1.9488 (GBP/NZD – 1.9586)
GBP/SEK – 10.6088 (GBP/SEK – 10.6081)
GBP/AED – 5.9719 (GBP/AED – 5.9697)
EUR/USD – 1.2926 (EUR/USD – 1.2984)
GBP/INR – 85.68 (GBP/INR – 86.90)

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Sterling performed fairly well this week rising to a 3 week high against the euro whilst staying fairly range bound against the US dollar as shifts in risk sentiment due to developments in Europe drove the market. The main data out of the UK this week was the final GDP figures for the second quarter which was revised up to -0.4% from -0.5% providing some relief albeit the figure still confirms that the UK remains in recession. More positive data was released showing that the number of new mortgage approvals was increasing by more than anticipated whilst the Confederation of British Industry (CBI) revealed that the volume of sales had increased by more than expected from last month. There is very little data out of the UK today and the key focus will remain Europe as the markets attempt to digest the Spanish budget and second guess when and if Spain will request for a full sovereign bailout. The potential for a lot of volatility remains so please call in now for the latest news and rates.

The euro had a positive start to the week as the markets hoped a Spanish bailout request was nearing and at the same time one of the members of the ECB all but ruled out an interest rate cut at the central banks next meeting. This positivity did not last as the Spanish government stated that it will put off requesting for a bailout until absolutely necessary which saw yields on Spanish ten year bonds rising back above the 6% level. Violent protests broke out in Greece during the 24 hours general strike which took place in the face of the increased austerity measures that are expected to be announced shortly. Inflation data, French consumer spending and German retail sales data will all be released on what is a busy day today in Europe. However developments in Spain and Greece will play the biggest role on the euro’s relative strength. Call in now for the latest update and rates.

The US dollar started poorly this week as risk appetite was the main driver in the market. As risk sentiment shifted the dollar begin to strengthen as investors sought safer havens for their money. Despite consumer confidence showing a more upbeat tone than markets expected this week, the actual data released painted a very different picture. Final GDP figures in the US were revised downwards revealing weaker growth of 1.3% compared to the 1.7% that was previously reported, a sting of poor housing data was released and the change in the value of new goods orders with manufactures showed a sharp contraction. More consumer confidence figures will be released today alongside data showing the change in personal spending, but, shifts in risk sentiment due to any news from Europe is likely to cause much greater price action. To get the latest news please call in.

Elsewhere, the Hungarian forint was one of the worst performing major currencies this week following the announcement that the Hungarian Central Bank (MNB) had cut interest rates by 0.25%. The Japanese yen was one of the best performers due to its safe haven status in a risk adverse market. News came from China suggesting that it may look to loosen its monetary policy as early as next week to boost its economy. Canadian retail sales figures beat expectations this week and the market will look to today’s GDP data release for further influence on the relative strength of the Canadian dollar. Call in now for the latest news and a live quote.

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Posted September 27th, 2012 by Charles Purdy

Daily Currency Note 27th September 2012

GBP/EUR – 1.2563
GBP/USD – 1.6191
EUR/USD – 1.2886
GBP/AED – 5.9481
GBP/AUD – 1.5564
GBP/CAD – 1.5906
GBP/CHF – 1.5190
GBP/HKD – 12.5512
GBP/INR – 86.25
GBP/JPY – 125.76
GBP/NZD – 1.9599
GBP/SEK – 10.6598
GBP/ZAR – 13.2693

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Sterling performed relatively well yesterday but struggled against the US dollar and Japanese yen as risk aversion was the main driver in the market. On the data front, the Confederation of British Industry (CBI) revealed that the volume of sales had increased by more than expected from last month, but, the reaction in the market was fairly muted. Today’s final GDP figures for the second quarter will be closely watched by investors with present expectations of a reading of -0.5% as per the preliminary figures. However, some are hoping for a revision upwards with some economists predicting an improved final reading of -0.2%. Any variation away from the expected -0.5% would cause some volatility for sterling whilst news from Europe will also play an important role. Please call in now for the latest news and rates.

The euro struggled yesterday as the markets fear that Spain will delay asking for a full sovereign bailout which in turn saw the yields on Spanish 10 – year bond rising back above the 6% level. The Spanish government stated that it will put off requesting for a bailout until borrowing costs become too high, despite stating that the Spanish economy was shrinking at a faster rate than expected. More bad news for Greece came as a general strike took place in the face of the increased austerity measures that are expected to be announced shortly. However, without these measures the Troika will not grant Greece the next tranche of its bailout meaning Greece would in turn default on its debts. The Italian benchmark 10-year bond auction today will be watched closely by investors. The news surrounding Greece and Spain, and in particular Spain’s draft budget plans which are announced today are likely to have a significant impact on the euro’s relative strength. Call in now for the latest update and rates.

The US dollar performed well yesterday as risk appetite shifted to risk aversion due to fears surrounding Spain delaying their bailout request and data from the US revealing that the number of new homes sold in the last month had fallen when a significant increase had been expected. More housing data will be released today showing the change in the number of new homes pending sale in the last month, final second quarter GDP figures will be revealed and are expected to show modest growth of 1.7% whilst figures showing the change in the number of new people claiming unemployment benefits will also be announced. So a high news day and to get the latest news please call in.

Elsewhere, the Japanese yen performed well yesterday due to its safe haven status in a risk adverse marker, whilst the Polish zloty struggled. Overnight, business confidence data from New Zealand was released; but, it is a relatively quiet day otherwise. Call in now for the latest news and a live quote.

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Posted September 26th, 2012 by Charles Purdy

Daily Currency Note 26th September 2012

GBP/EUR – 1.2559
GBP/USD – 1.6169
EUR/USD – 1.2873
GBP/AED – 5.9390
GBP/AUD – 1.5611
GBP/CAD – 1.5863
GBP/CHF – 1.5181
GBP/HKD – 12.5347
GBP/INR – 86.50
GBP/JPY – 125.66
GBP/NZD – 1.9712
GBP/SEK – 10.6426
GBP/ZAR – 13.3007

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Sterling had a positive start to Tuesday, but, struggled in the afternoon as risk appetite drove the market and the global focus remained on Europe. This was in spite of data revealing the number of new mortgage approvals increasing by more than anticipated.. Out today, an index from the Confederation of British Industry (CBI) is expected to show that the volume of sales has increased from last month, whilst the Bank of England will also release a survey on the relative credit conditions in the UK. Please call in now for the latest news and rates.

The euro had a mixed day following continued speculation that Spain may soon apply for a full sovereign bailout. Later this week Spain will reveal its draft budget plans and the markets will keep a close eye on this release to see how convincing it is in its promise to cut the growing deficit. The euro was buoyed yesterday following one of the members of the ECB all but ruling out an interest rate cut at the central banks next meeting. The German benchmark 10-year bond auction today will be closely watched as it is a clear indicated of investors’ confidence globally and more specifically within the Eurozone. Call in now for the latest update and rates.

The US dollar struggled in general today as risk appetite increased partly due to the US consumer confidence figures coming out even better than initially expected jumping to a reading of 70.3 which was a 7 month high, whilst house prices data revealed a bigger than expected rise. Today, we will see data announced showing the number of new homes sold in the last month with the markets expecting a slight increase. Get the latest news by calling in.

Elsewhere, the Hungarian forint was the worst performing major currency yesterday following the announcement that the Hungarian Central Bank (MNB) had cut interest rates by 0.25%. Other data released showed that Canadian retail sales figures had beaten expectations; but, the Canadian dollar failed to stage a significant rally. Call in now for the latest news and a live quote.

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Posted September 25th, 2012 by Charles Purdy

Daily Currency Note 25th September 2012

GBP/EUR – 1.2581
GBP/USD – 1.6230
EUR/USD – 1.2901
GBP/AED – 5.9617
GBP/AUD – 1.5564
GBP/CAD – 1.5894
GBP/CHF – 1.5220
GBP/HKD – 12.5842
GBP/INR – 86.70
GBP/JPY – 126.21
GBP/NZD – 1.97699
GBP/SEK – 10.6943
GBP/ZAR – 13.3817

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Sterling strengthened to a 2 week high against the euro as concerns about the single currency and the global economy at large drove the market. Similarly, sterling weakened against the US dollar and Japanese yen as investors sought safer havens for their money. Out today, figures showing the number of new mortgages approved in the previous month will be announced. Movements in exchange rates continue to be quick and rapid given the uncertainty in the Eurozone so expect any news from Europe to play a much bigger role in sterling’s relative strength today. Please call in now for the latest news and rates.

The euro struggled yesterday as German business climate data revealed that confidence has unexpectedly fallen despite the German Federal Constitutional Court ruling in favour of the European Stability Mechanism (ESM). The contrasting French and German opinions on how the proposed banking union should be supervised is not helping matters and the German Chancellor is due to meet the President of the European Central Bank (ECB) today to discuss matters further whilst also discussing the on-going problems with Spain and Greece. With little significant data released today, the markets will look to the ECB Presidents press conference as a focal point for today’s trade patterns. Call in now for the latest update and rates.

The US dollar performed well yesterday as investors looked to buy US dollars and other safe haven currencies as risk aversion dominated market movements thorough much of the day. Consumer confidence figures released today are expected to show that current market conditions had marginally improved from last month. Variation away from the expected figures has caused volatility in the past as financial confidence drives consumer spending. Get the latest news by calling in.

Elsewhere, the Japanese yen was particularly strong and the New Zealand dollar was particularly weak as risk aversion drove the market which was not helped by data from China revealing that growth has continued to decelerate in the third quarter increasing concerns about the state of the global economy. Out today, the President of the Swiss National Bank is speaking and we also have the release of retail sales figures from Canada, so call in now for the latest news and a live quote.

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Posted September 24th, 2012 by Charles Purdy

Daily Currency Note 24th September 2012

GBP/EUR – 1.2534
GBP/USD – 1.6217
EUR/USD – 1.2937
GBP/AED – 5.9593
GBP/AUD – 1.5576
GBP/CAD – 1.5871
GBP/CHF – 1.5175
GBP/HKD – 12.5720
GBP/INR – 86.44
GBP/JPY – 126.58
GBP/NZD – 1.9677
GBP/SEK – 10.6679
GBP/ZAR – 13.4710

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Sterling briefly touched a one year high of 1.63 against the US dollar on Friday, but, struggled to break through this resistance level. Last time the markets reached these levels in April we saw the market snap back aggressively with sterling weakening off by ten cents in less than two months. We will have to see if the markets react in the same way this time. Sterling faired fairly well in general on Friday as figures released showed that the level of public sector net borrowing was less than initially anticipated. This week the main release will be the current account figures and the markets will hope for a fairly positive reading following the public sector net borrowing figures released on Friday. However there is a raft of data released elsewhere which will affect sterling so call in now for the latest rates.

The euro had a mixed day on Friday as concerns that Spain may soon apply for a full sovereign bailout were accelerated as rumours spread that EU officials were already in talks about a potential rescue package. This week, the main releases will be German business confidence figures, the Italian and German benchmark 10-year bond auctions and the president of the European Central Bank (ECB) is also speaking. So plenty of news which will impact on the euro one way or the other so call in now for the latest update and rates.

The US dollar had a poor day on Friday and weakened against the majority of currencies as risk appetite continued to be the main driver in the market. This week we will see another full economic calendar in the US which includes consumer confidence figures, housing data and employment data. This raft of data being released will give a clearer picture on the state of the US economy and could have a significant effect on the US dollar. The US dollar has struggled over the past few months now and is close to some key levels against other currencies. We will have to see if it breaks through these levels or stages a recovery. Get the latest news by calling in.

Elsewhere, the main release on Friday was the Canadian inflation data which came out slightly lower than expected. This week, Canadian GDP data and retail sales figures will be announced, business confidence from New Zealand will be released and the President of the Swiss national bank is also speaking. Call in now for the latest news and a live quote.

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Posted September 21st, 2012 by Charles Purdy

Daily Currency Note 21st September 2012

This week (Last week)
GBP/EUR – 1.2511 (GBP/EUR – 1.2410)
GBP/USD – 1.6248 (GBP/USD – 1.6191)
GBP/CHF – 1.5137 (GBP/CHF – 1.5098)
GBP/CAD – 1.5842 (GBP/CAD – 1.5644)
GBP/AUD – 1.5526 (GBP/AUD – 1.5306)
GBP/ZAR – 13.4520 (GBP/ZAR – 13.3132)
GBP/JPY – 126.98 (GBP/JPY – 125.68)
GBP/HKD – 12.5969 (GBP/HKD – 12.5610)
GBP/NZD – 1.9586 (GBP/NZD – 1.9412)
GBP/SEK – 10.6081 (GBP/SEK – 10.5905)
GBP/AED – 5.9697 (GBP/AED – 5.9465)
EUR/USD – 1.2984 (EUR/USD – 1.3034)
GBP/INR – 86.90 (GBP/INR – 88.81)

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Sterling had a mixed week recovering from its 2 month low against the euro at the start of the week and holding its own against the US dollar during the course of the week. The Bank of England’s latest meeting minutes revealed that whilst no further quantitative easing was introduced in September’s meeting there is the potential for additional stimulus if the economy continues to struggle. Retail sales figures marginally beat expectations this week, but, still showed a drop of 0.2% from last month. The hope is that these figures are poor due to the Olympics effect and so the markets will play close attention to next month’s release. Public sector net borrowing figures are the main release on the agenda today and are expected to show an increase of £13 billion from last month. Call in now for the latest rates.

The euro’s relief rally seems to have ended and the euro has been sold off against all major currencies this week as the markets realise that the underlining fundamentals across Europe are still extremely poor. Concerns that Spain may soon need to apply for a full sovereign bailout dominated the headlines whilst Purchasing Managers’ Index (PMI) figures showed that the economic downturn seems to have worsened. There has also been contrasting opinions on how the proposed banking union should be supervised causing more uncertainty for the region. The Eurozone is back in the global headlines and any news from Spain has the potential to cause a lot of volatility. Call in now for the latest news.

The US dollar has performed better this week following its dramatic sell off last week after a third round of quantitative was announced. Notable data released included the number of homes (excluding new builds) that were sold during the previous month increasing to a 2 year high, whilst the Philly manufacturing index was better than expected. However the manufacturing index still indicated that economic conditions were worsening, hence the need for further quantitative easing. The US dollar had weakened to 4 month lows against both the euro and sterling in the early part of the week; but, now seems to be recovering. Get the latest news by calling in.

Elsewhere, the main news this week came from Japan after its central bank announced that it is increasing its program of asset purchases to help economic growth. This announcement caused temporary weakness for the yen; but, it soon strengthened again as risk appetite drove the market. Canadian inflation data will be the main release on the agenda and is expected to show prices have increased by just 0.3% on the primary reading. Call in now for the latest news and a live quote.

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Posted September 20th, 2012 by Charles Purdy

Daily Currency Note 20th September 2012

GBP/EUR – 1.2453
GBP/USD – 1.6178
EUR/USD – 1.2987
GBP/AED – 5.9406
GBP/AUD – 1.5581
GBP/CAD – 1.5842
GBP/CHF – 1.5062
GBP/HKD – 12.5457
GBP/INR – 87.80
GBP/JPY – 126.53
GBP/NZD – 1.9667
GBP/SEK – 10.5884
GBP/ZAR – 13.4741

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Sterling had a poor day yesterday following the release of the Bank of England’s latest meeting minutes which highlighted the fact that whilst no further quantitative easing was introduced in September’s meeting, there is the potential for additional stimulus if the economy continues to struggle. As expected though, the Bank of England’s latest meeting minutes revealed that all of the members of the Monetary Policy Committee (MPC) voted to keep the asset purchase facility and interest rates on hold. The main release on the agenda today will be retail sales figures which are always a good indicator of the UK’s economic health. However, we will have to see how much the Olympics have distorted the numbers. Call in now for the latest rates.

The euro had a mixed day as news spread that Germany’s opinion differed from much of Europe on how the proposed banking union should be supervised. On a more positive note, Standard and Poor’s (one of the big three credit rating agencies) said that it had no intention of downgrading Spain to “junk” grade in the near future. On the agenda today we have the Spanish 10 year bond auction which will be closely watched by investors as the markets continue to speculate that Spain may need a full government bailout. Other data released today includes the euro-area wide manufacturing and services Purchasing Managers’ Index (PMI) figures. Call in now for the latest news.

After a strong start to the day the US$ weakened. This was despite the news that the number of homes (excluding new builds) that were sold during the previous month increased to a 2 year high and that the number of new residential building permits issued in the last month were as expected. The US$ is the weakest performing major currency over the last quarter. The main release today will be the Philly manufacturing index which will indicate the relative economic health in manufacturing sector. Other data out today includes the change in the number of new people claiming unemployment benefits, whilst two member of the Federal Open Market Committee (FOMC) are also speaking. Get the latest news by calling in.

Elsewhere, the Japanese yen performed well yesterday despite its initial weakness following the overnight announcement that the Bank of Japan was increasing its program of asset purchases to help economic growth. Overnight, GDP data from New Zealand was released as well as manufacturing PMI data from China. There is little other data announced throughout the day; so call in now for the latest news and a live quote.

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Posted September 19th, 2012 by Charles Purdy

Daily Currency Note 19th September 2012

GBP/EUR – 1.2447
GBP/USD – 1.6265
EUR/USD – 1.3066
GBP/AED – 5.9738
GBP/AUD – 1.5542
GBP/CAD – 1.5825
GBP/CHF – 1.5094
GBP/HKD – 12.6090
GBP/INR – 87.86
GBP/JPY – 128.59
GBP/NZD – 1.9619
GBP/SEK – 10.6503
GBP/ZAR – 13.2680

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Sterling had a mixed day yesterday strengthening against the euro whilst trading flat against the US dollar as inflation data in the UK headlined by the Consumer Price Index (CPI) came in pretty much as expected. This comforted the market as it indicated that inflation was being contained even though the money supply had and was being increased significantly through the Bank of England’s program of quantitative easing. The main release globally today will be the Bank of England’s latest meeting minutes which are expected to show that all of the members of the Monetary Policy Committee (MPC) voted to keep the asset purchase facility and interest rates on hold. Anything else would surprise the market and could result in increased volatility; so call in now for the latest news.

The euro struggled against all of its major counterparties as the markets start to speculate that Spain may soon need to apply for a full sovereign bailout. On a more positive note, German and other euro zone economic confidence figures were actually better than expected; but, this did little to help the euro’s strength. There is very little data released across Europe today; as a result, expect the euro to trade on any further developments in Spain whilst following the underlining risk sentiment created by news from the UK and the US. Call in now for the latest rates.

The US dollar was fairly strong yesterday strengthening or trading flat again the majority of currencies as data released showed that both current account figures and statistics demonstrating the overseas demand for US securities beat market expectations. It would appear the dramatic dollar sell off we saw last week following the announcement of a program of monthly quantitative easing of up to US$ 40 billion has stopped for the time being. A raft of housing data will be released today; the most significant releases includes the number of new residential building permits that were issued in the last month and data showing the number of homes (excluding new builds) that were sold during the previous month. Get the latest news by calling in.

Elsewhere, the Czech koruna was particularly weak yesterday as concerns started to spread that the Prime minister will not have enough support in parliament to pass a bill aimed at reducing its national budget deficit. Overnight we saw current account figures from New Zealand released as expected; but, much more significantly, the Japanese yen weakened across the board after the Bank of Japan announced that it was following the US’s lead by increasing its program of asset purchases to help economic growth. Out today we have data outlining the economic expectations in Switzerland and late this evening GDP data form New Zealand will be announced. Call in now for the latest news and a live quote.

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Posted September 18th, 2012 by Charles Purdy

Daily Currency Note 18th September 2012

GBP/EUR – 1.2409
GBP/USD – 1.6243
EUR/USD – 1.3089
GBP/AED – 5.9668
GBP/AUD – 1.5541
GBP/CAD – 1.5836
GBP/CHF – 1.5063
GBP/HKD – 12.5920
GBP/INR – 87.99
GBP/JPY – 127.73
GBP/NZD – 1.9645
GBP/SEK – 10.7139
GBP/ZAR – 13.4092

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Sterling was one of the best performing currencies yesterday, steadily recovering from its 2 month low versus the euro on Friday and reaching fresh highs of 1.6270 against the US dollar. This favourable movement for sterling came despite house pricing data being released which showed the average price of homes for sale was 0.6% less than last month. Inflation data released this morning will be closely watched by investors and is expected to show that the price of good and services has increased by 2.5% from last year. The markets continue to be unsettled so call in now for the latest rates.

The euro performed relatively well yesterday and sterling was the only major currency it lost ground to despite Spanish bond yield pushing back towards the 6% level. Ministers across Europe yesterday were trying to come to an agreement with regards to the make-up of the proposed banking union, but, it appears that the Germans and French disagree on which banks should be under supervision. Euro zone trade balance and current account figures released missed market expectations showing the trade surplus had narrowed by more than anticipated. German and other euro zone economic confidence figures will be the main release on the agenda today on what is otherwise expected to be a relatively quiet day; so, call in now for the latest news.

The US dollar slowly started to recover from its sharp sell off last week and strengthened against most major currencies yesterday, but, it traded flat against the euro and lost ground against sterling. On the data front, the US empire state manufacturing index showed economic conditions had worsened by much more than initially predicted highlighting why the Federal Reserve had put in place its rolling program of quantitative easing. Current account figures and statistics depicting the overseas demand for US securities are announced today. Get the latest news by calling in.

Elsewhere, the Japanese yen continued to be sold off in advance of the central bank meeting on Wednesday, whilst the Polish zloty, Hungarian forint and Czech koruna were also particularly weak. Overnight, the Reserve Bank of Australia (RBA) released its latest monetary policy meeting minutes which investors pay close attention to in the hope of finding clues to what course of action the central bank may look to take next. Throughout the rest of the day there is not a great deal of significant data released; but, late this evening current account figures from New Zealand will be announced. Call in now for the latest news and a live quote.

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Posted September 17th, 2012 by Charles Purdy

Daily Currency Note 17th September 2012

GBP/EUR – 1.2363
GBP/USD – 1.6216
EUR/USD – 1.3117
GBP/AED – 5.9574
GBP/AUD – 1.5412
GBP/CAD – 1.5750
GBP/CHF – 1.5024
GBP/HKD – 12.5741
GBP/INR – 87.60
GBP/JPY – 127.00
GBP/NZD – 1.9586
GBP/SEK – 10.6603
GBP/ZAR – 13.3867

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On Friday risk sentiment remained largely unchanged and sterling continued to follow its weekly trend weakening against the euro, dropping as low as 1.2325 at one stage, and strengthening against the US dollar peaking at 1.6250. This week the main release will be the Monetary Policy Committee (MPC) meeting minutes on Wednesday as investors look for clues to see if and when the central bank may look to loosen monetary policy further. Data to be released includes retails sales figures, public sector net borrowing statistics and the Bank of England inflation letter will also be published. Call in now for the latest rates.

The euro continued to perform well on Friday reaching 1.3125 against the US dollar as investors confidence has grown for the single currency following last week’s news that the German Federal Constitutional Court had ruled in favour of the €500 billion support fund. Inflation data released on Friday was slightly lower than anticipated and then the focus moved to the Economic and Financial Affairs Council (ECOFIN) and Eurogroup meetings on Friday and Saturday respectively where the amount of financial aide to be given to Cyprus was one of the main topics on the agenda. This week, some of the main releases are the German economic confidence figures and the euro-area wide manufacturing and services Purchasing Managers’ Index (PMI) figures. There is also a Spanish 10 year Bond Auction and the President of the European Central Bank (ECB) is also speaking. So a busy week – call in now for the latest news.

The US dollar continued to weaken against the majority of currencies on Friday as risk appetite drove the market following the announcement of a third round of quantitative easing from the Federal Open Market Committee (FOMC) on Thursday. Retail sales figures released were better than expected as was consumer confidence; but, the level of inflation was marginally lower than economists originally anticipated. Out this week we have two sets of significant housing data, the change in the number of new people claiming unemployment benefits and economic confidence from the manufacturing sector will also be announced. Get the latest news by calling in.

Elsewhere, the Japanese yen struggled on Friday as investors start to speculate that this week’s Bank of Japan’s monetary policy statement may include additional central bank intervention in an attempt to shore up the state of the economy. In addition, the latest monetary policy meeting minutes from the Reserve Bank of Australia (RBA) will be announced, trade balance data and GDP figures from New Zealand will be released and Chinese manufacturing PMI is also on the agenda. Call in now for the latest news and a live quote.

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