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Posted December 30th, 2013 by Charles Purdy

Turkish lira weakens amidst political turmoil

Elsewhere, the Turkish lira was one of the worst performers on Friday as the country’s prime minister is embroiled in an corruption scandal. Data released in Japan showed that inflation has improved significantly to 1.2% whilst the overall rate of unemployment remained unchanged at 4%. Despite this, the Japanese yen continues to tumble – falling to a 5 year low against the US dollar this morning as investors anticipate further monetary easing in 2014. This week, the main release will be the Chinese manufacturing and non-manufacturing PMI whilst we also have PMI data and an economic survey from Switzerland. Call your trader now for a live quote.

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Posted December 27th, 2013 by Charles Purdy

Smart Daily Exchange Rates

Last Week                               This Week
(GBP/EUR – 1.1980)                  GBP/EUR – 1.1944
(GBP/USD – 1.6336)                  GBP/USD – 1.6483
(EUR/GBP – 0.8344)                  EUR/GBP – 0.8371
(EUR/USD – 1.3632)                  EUR/USD – 1.3793
(GBP/AED – 5.9997)                  GBP/AED – 6.0518
(GBP/AUD – 1.8417)                  GBP/AUD – 1.8470
(GBP/CAD – 1.7440)                  GBP/CAD – 1.7522
(GBP/CHF – 1.4691)                  GBP/CHF – 1.4634
(GBP/HKD – 12.668)                  GBP/HKD – 12.776
(GBP/INR – 101.42)                  GBP/INR – 101.72
(GBP/JPY – 170.72)                  GBP/JPY – 172.65
(GBP/NZD – 1.9960)                  GBP/NZD – 2.0132
(GBP/SEK – 10.756)                  GBP/SEK – 10.703
(GBP/ZAR – 17.043)                  GBP/ZAR – 17.140

Posted December 27th, 2013 by Charles Purdy

US dollar weakens, sterling still strong

I hope all our readers of today’s currency note have had a good Christmas break and looking forward to a positive 2014. Here in the UK we have two days of holiday but in the US they only have Christmas Day and therefore yesterday we did have the release of some US data: the US jobless claims figures. These came in better than expected which, on a low volume trading day, boosted stock markets, increased bond yields as investors become more confident on the sustainability of the US economic recovery and weakened the US dollar. It just highlights how sometimes it is better to travel than arrive. Expectations were that the start of tapering would see a strengthening US dollar whereas the reverse seems to be happening as business confidence increases and the US safe haven status becomes less important. Today is a very quiet day on the data front although we do have some price inflation data out of France which could be more influential than normal given the dearth of activity. But here at Smart we are a hive of activity, available to help today, Monday and Tuesday, so please call your trader to get the latest exchange rates.

Posted December 24th, 2013 by Charles Purdy

Smart Daily Exchange Rates

GBP/EUR – 1.1941
GBP/USD – 1.633
EUR/GBP – 0.8371
EUR/USD – 1.3675
GBP/AED – 5.9945
GBP/AUD – 1.8309
GBP/CAD – 1.7347
GBP/CHF – 1.4624
GBP/CNY – 9.9095
GBP/HKD – 12.6568
GBP/HUF – 354.69
GBP/INR – 100.71
GBP/JPY – 170.19
GBP/NZD – 1.9950
GBP/RUB – 53.25
GBP/SEK – 10.7548
GBP/THB – 53.45
GBP/ZAR – 16.884

Posted December 24th, 2013 by Charles Purdy

All quiet on the currency front this Christmas Eve

Yesterday was a day when very little seemed to happen to affect exchange rates. Data releases were limited and sterling was very steady across the board. Today may be a bit more lively as we have some data releases out of France; consumer spending data and the final third quarter GDP figures, and out of the US; durable goods order, new home sales and the FHFA house price index.

Exchange rates may move if any of these prove to be widely different from forecast, especially as activity will be reduced in the market place and therefore subject to greater volatility. In the UK we have data on mortgage approvals which is unlikely to cause sterling to move significantly.

So please call your trader today if only to wish him a Merry Christmas!

Posted December 23rd, 2013 by Charles Purdy

Smart Daily Exchange Rates

GBP/EUR – 1.1958
GBP/USD – 1.6355
EUR/GBP – 0.8360
EUR/USD – 1.3675
GBP/AED – 6.0050
GBP/AUD – 1.8320
GBP/CAD – 1.7403
GBP/CHF – 1.4660
GBP/CNY – 9.9205
GBP/DKK – 8.9185
GBP/HKD – 12.6785
GBP/HUF – 356.97
GBP/INR – 101.22
GBP/JPY – 170.10
GBP/NZD – 1.9946
GBP/RUB – 53.8101
GBP/SEK – 10.7525
GBP/THB – 53.47
GBP/ZAR – 16.9370

Posted December 23rd, 2013 by Charles Purdy

Sterling enters the Christmas week in good spirits

Sterling rounded off last week in mildly disappointing fashion as Fridays data failed to impress showing a widening of the UK budget deficit. This led to sterling weakening against the euro for the first time in three days. Sterling also remained well below the two year highs it had reached against the dollar earlier in the week following news that Britain’s third quarter current account gap was the widest in 24 years. With Christmas on Wednesday there is little UK focused data scheduled to be released this week that will have an effect on the pound. However, with the decreased activity due to the festivities, markets can be prone to more extreme movements thanks to the decreased liquidity. Call your trader now for the latest sterling rates, on a quiet week due to the festivities.

Posted December 23rd, 2013 by Charles Purdy

The Euro holds steady despite its woes

The euro stayed fairly range bound on Friday with little data of high impact released. The only data of note was the monthly German inflation data which came out slightly worse than forecast along with German Consumer Climate  which was slightly better than expected. We have a quiet week ahead with the Christmas holidays with little to no data released although France is releasing its final estimate for third quarter growth figures and consumer spending for November tomorrow. However low trading volumes may cause exaggerated movements in the markets. Call your trader now for the latest news and rates!

Posted December 23rd, 2013 by Charles Purdy

A busy week for the US dollar despite the festivities

The US dollar ended last week with some positive movement, despite no further data to spur these shifts. The American currency was little changed against sterling, although good gains were made against both the euro and the Japanese yen. Moving in to this week, the US economy does have some figures due despite the Christmas break. Firstly, Christmas Eve holds the core durable goods orders and the new home sales from stateside, with the unemployment claims due on Boxing Day. Following the decision by the Federal Reserve to taper their quantitative easing program, data will continue to be important as a continually improving economy is needed to maintain this program. Also, figures either side of predictions are liable to impact the market more significantly, thanks to the decreased activity. Get in touch with your trader now for the latest US dollar rates, as investors look for continued vindication for the tapering.

Posted December 23rd, 2013 by Charles Purdy

Japan focused on increasing inflation to help buoy the economy

Elsewhere on Friday, we saw the Japanese yen continue with the significant weakness it showed throughout last week. Reaching fresh 2008-lows against sterling and the US dollar, the yen’s further slide on Friday came off the back of announcements from the Japanese central bank that their aggressive monetary stimulus will continue. The outlook appears bleak for the Japanese currency, with a daunting number of factors stacked against it as further yen-weakening policies seem on the cards to support the Japanese economy. The Canadian dollar also dropped back down to 3-year lows, as weaker than forecast inflation figures further reduced the likelihood of an interest rate increase. Looking forward to this week, we have GDP figures out of Canada. Call now to get the latest rates.

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