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Posted December 31st, 2013 by Charles Purdy

Smart Daily Exchange Rates

GBP/EUR – 1.2019
GBP/USD – 1.6539
EUR/GBP – 0.8317
EUR/USD – 1.3759
GBP/AED – 6.0747
GBP/AUD – 1.8538
GBP/CAD – 1.7607
GBP/CHF – 1.4726
GBP/CNY – 10.010
GBP/DKK – 8.9658
GBP/HKD – 12.823
GBP/HUF – 356.28
GBP/INR – 102.07
GBP/JPY – 173.77
GBP/NZD – 2.0132
GBP/RUB – 54.455
GBP/SEK – 10.612
GBP/THB – 54.197
GBP/ZAR – 17.353

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Posted December 31st, 2013 by Charles Purdy

Sterling reaches 1.65 against the US dollar

Sterling kept itself busy yesterday despite the holiday period with the significant 1.65 barrier being once again broken against the US dollar following disappointing data from stateside. This was in contrast to a steady decline against the euro. With no major data due for release from the UK today, we would expect a fairly subdued end to the year. Get in touch with your trader now for the latest on sterling, before we close for the New Year break.

Posted December 31st, 2013 by Charles Purdy

Euro enjoys a positive day

The euro had a broadly positive day, making gains against the majority of its trading partners. Although the Italian 10-year bond auction was the only data out of the Eurozone worth any note (it sold higher than the prior auction around a month ago), the statement from the European Central Bank (ECB) president over the weekend contributed greatly to the euro’s strength. He said that “there is no immediate need to act” with regards to interest rates at the moment even though the “crisis isn’t over” however, he also mentioned that “there are many encouraging signs” which would not have been expected last year. These include slow but steady recovery in some of the Eurozone countries, reduction in budget deficits along with other improvements. Draghi also promised to ensure inflation would not be “stuck permanently below one percent and thereby slip into the danger zone” even though they are “not seeing any deflation at present”. We have a quiet day today with a bank holiday in Germany. Call your trader for the latest news and a live rate.

Posted December 31st, 2013 by Charles Purdy

Weak housing data creates mixed fortunes for the US dollar

The US dollar had a mixed day yesterday, incurring losses against sterling and the euro following data released showing the pending homes sales figure from the US fell significantly short of its forecasted level. However, the US currency managed to reach a five year high against the yen, before retracing slightly. Out today, we have consumer confidence which could cause some market volatility with decreased liquidity in the market. Other data released includes PMI data from Chicago and data showing the change in selling price of family homes. Call in now for a live update on what is a relatively busy day for data in the US

Posted December 31st, 2013 by Charles Purdy

Canadian dollar weakens following central bank speculation

Elsewhere, the Canadian dollar touched on three-year lows against its US counterpart in the early hours of yesterday morning. The weakness came about amid speculation among traders that the central bank will hold interest rates at 1% throughout 2014. This was following the announcement that the US Federal Reserve will taper monetary stimulus as soon as January. Despite recovering slightly throughout the afternoon, the Canadian currency remains relatively very weak. We also saw the Thai baht drop down to 2010 lows amid political unrest in the country, with the head of the army using some contentious rhetoric following deadly street protests in Bangkok. The Turkish lira bounced back from a difficult end to last week, with stocks jumping by the most in three months as tensions between the government and the judiciary appear to be subsiding. A quiet day on the data-front, with many countries enjoying a Bank Holiday today and tomorrow. Get in touch for a live rate.

Posted December 30th, 2013 by Charles Purdy

Smart Daily Exchange Rates

GBP/EUR – 1.1983
GBP/USD – 1.6485
EUR/GBP – 0.8342
EUR/USD – 1.3753
GBP/AED – 6.0538
GBP/AUD – 1.8598
GBP/CAD – 1.7655
GBP/CHF – 1.4690
GBP/CNY – 9.9939
GBP/DKK – 8.9417
GBP/HKD – 12.781
GBP/HUF – 356.14
GBP/INR – 102.12
GBP/JPY – 173.54
GBP/NZD – 2.0198
GBP/RUB – 53.928
GBP/SEK – 10.680
GBP/THB – 54.130
GBP/ZAR – 17.353

Posted December 30th, 2013 by Charles Purdy

Sterling reached fresh highs against the US dollar

Sterling jumped to 1.6577 against the US dollar on Friday with decreased liquidity in the market causing significant volatility. Data out this morning showed that house prices in the UK have climbed for the 11th month in a row, but this had little bearing on sterling’s relative strength. Manufacturing and Construction Purchasing Managers’ Index (PMI) released at the end of the week will be watched closely by investors and could cause volatility in the markets with decreased liquidity over the New Year celebrations. We also have some data out from the Bank of England on Friday which will show the net lending to individuals and will reveal a report highlighting the current credit conditions in the country. Call your trader now for a live update on the market

Posted December 30th, 2013 by Charles Purdy

Euro supported by comments from the ECB President

The euro reached a 2 year high of 1.3895 against the US dollar on Friday and was supported on Friday as the ECB president all but ruled out another cut to the main interest rate as he suggested there was no sign of deflation. Moreover, the head of the German central bank said that the ECB must “raise rates at the right time should inflation pressure mount” hinting that the central bank is not against raising interest rates. On the data front this week, there is a benchmark 10 year bond auction in Italy today, manufacturing PMI data released across Europe on Thursday and data showing the change in Spanish unemployment released on Friday. Call your trader now for a price on the euro.

Posted December 30th, 2013 by Charles Purdy

Euro supported by comments from the ECB President

The euro reached a 2 year high of 1.3895 against the US dollar on Friday and was supported on Friday as the ECB president all but ruled out another cut to the main interest rate as he suggested there was no sign of deflation. Moreover, the head of the German central bank said that the ECB must “raise rates at the right time should inflation pressure mount” hinting that the central bank is not against raising interest rates. On the data front this week, there is a benchmark 10 year bond auction in Italy today, manufacturing PMI data released across Europe on Thursday and data showing the change in Spanish unemployment released on Friday. Call your trader now for a price on the euro.

Posted December 30th, 2013 by Charles Purdy

US dollar has a volatile day

The US dollar saw significant volatility on Friday, weakening significantly against the euro and sterling but, strengthening against the Japanese yen as thin trading caused increased volatility in the market,. This week’s main economic announcements are expected to be the weekly unemployment claims and manufacturing PMI figures – both of which are released on Thursday. Before then, we have pending home sales data released today and consumer confidence figures released tomorrow. Call your trader now as the US dollar remains under pressure.

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