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Posted January 28th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

GBP/EUR – 1.3388
GBP/USD – 1.5190
EUR/GBP – 0.7467
EUR/USD – 1.1344
GBP/AED – 5.5737
GBP/AUD – 1.9020
GBP/CAD – 1.8891
GBP/CHF – 1.3697
GBP/CNY – 9.4900
GBP/DKK – 9.9662
GBP/HKD – 11.775
GBP/HUF – 415.58
GBP/INR – 93.221
GBP/JPY – 178.89
GBP/NZD – 2.0349
GBP/RUB – 102.40
GBP/SEK – 12.419
GBP/THB – 49.423
GBP/TRY – 3.5856
GBP/ZAR – 17.550

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Posted January 28th, 2015 by Charles Purdy

Australian dollar benefits from higher than expected inflation

Although the Australian dollar has been out of sorts recently, this morning it gained significant ground as core inflation was higher than expected. This increases the likelihood that interest rates will not be cut at the Reserve Bank of Australia (RBA) meeting on the 3rd February

The Canadian currency remains around five-and-a-half years lows. The reason behind this is due to oil prices and some investors believe Canada may cut interest rates again, putting further pressure on the currency.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

Posted January 28th, 2015 by Charles Purdy

US Dollar strength beginning to hurt US exports

The US dollar had a largely disappointing day yesterday, amid some mixed results from its economic data releases which highlighted that US dollar strength is beginning to have a significant impact on exports. The most significant release was a disappointing one for the country, as the Durable Goods Orders data showed an unexpected decline. With forecasts suggesting the result would show an increase of around 0.6%, the actual result of a 3.4% decrease left investors feeling as cold as the New York weather. As a result, the dollar fell against most of its major partners, having been at record levels.

Positive consumer confidence and new home sales releases added some positivity to stem the losses, but failed to reverse the stronger trend. Today is light on physical data releases, but does hold the latest rate decision from the Federal Reserve. While it seems unlikely that we will see any change from the current levels, the accompanying statement is sure to be scrutinised closely for any clues as to potential future decisions. Any hints as to timescales or feelings within the US Federal Reserve will be of particular interest, as investors look to the longer term prospects of the dollar.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted January 28th, 2015 by Charles Purdy

Euro enjoys a second day in the sun

No data releases on Tuesday for the single currency meant the focus was on Greece and their new anti-austerity coalition. The newly elected Syriza party were just short of the 151 member seats needed for an absolute majority. They confirmed their intentions to form a coalition with another anti-austerity party, the Greek Independents, to take control of the House.

Reports have been circulating that the new Greek finance minister intends to negotiate their current austerity measures and bailout package with the International Monetary Fund (IMF) and Eurozone rather than look for a head-on collision with Eurozone powerhouses like Germany. This seem to give the euro a boost. The long term problem will be if Greece successfully re-negotiates the terms of the bailout, other countries such as Spain, Portugal and Ireland could follow suit.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted January 28th, 2015 by Charles Purdy

UK growth highest since the crisis

Sterling continued its rally against the US dollar, while struggling to hold close to its recent high against the euro. Sterling markets reacted positively to the release of fourth quarter UK growth figures even though they showed growth of only 0.5% when the forecast was 0.6%. The market though decided to focus on the annual growth rate of 2.6% which is the fastest rate of UK growth since the crisis started. With financial markets still nervous following the recent election result in Greece, sterling struggled against the euro as investors reacted positively to European Union finance ministers stating their willingness to negotiate with the new Greek government.

A quiet day from around the globe will see investor attention focussed on the US, where we will see the latest decision from the Federal Open Market Committee on US interest rates this evening.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted January 27th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

GBP/EUR – 1.3331
GBP/USD – 1.5102
EUR/GBP – 0.7499
EUR/USD – 1.1327
GBP/AED – 5.5432
GBP/AUD – 1.8978
GBP/CAD – 1.8810
GBP/CHF – 1.3812
GBP/CNY – 9.4282
GBP/DKK – 9.9294
GBP/HKD – 11.707
GBP/HUF – 416.21
GBP/INR – 92.779
GBP/JPY – 178.33
GBP/NZD – 2.0275
GBP/RUB – 102.02
GBP/SEK – 12.452
GBP/THB – 49.134
GBP/TRY – 3.5429
GBP/ZAR – 17.379

Posted January 27th, 2015 by Charles Purdy

Sterling starts the week steadily

Monday saw sterling bucked its recent trend against the US dollar by strengthening for the first time in four days. With little economic news released from around the globe, the markets were largely driven by reaction to the Greek elections. With speculation mounting that the anti-austerity Syriza party are looking to negotiate a deal allowing Greece to remain in the Eurozone, sterling retreated from seven-year highs against the euro throughout the day as the single currency strengthened.

The UK currency was able to recover some ground against the US dollar as Bank of England (BoE) policy maker Kirsten Forbes commented that an improving global economy could see the BoE raise interest rates before 2016 as has been expected. Today sees the release of the first UK economic growth estimate for the final quarter of 2104, which is expected to show a slight slowdown in the level of growth. Any deviations from expectations has the potential to cause movement in sterling.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted January 27th, 2015 by Charles Purdy

The Euro has a “day in the sun”

The euro hit fresh lows on Sunday night as the results of the Greek election became known. Throughout Monday though the euro strengthened as the Greeks reiterated their desire to stay in the Eurozone and it also received a boost from Germany’s IFO business survey, which was positive as expected, moving up to 106.7, up from last month’s figure of 105.5.

However, a positive winning streak for the single currency looks limited with the big news last week around quantitative easing from the European Central Bank (ECB). Further downside risk also seems likely with Greece’s political uncertainty and whether Athens will remain committed to the re-negotiation of the bailout. If Greece manage to re-negotiate (again), this will create further instability as anti-austerity parties in Spain and Italy will be keeping a close eye on the situation.

With very little data out today the markets will be keeping a close eye on the political rhetoric and on events elsewhere.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted January 27th, 2015 by Charles Purdy

US Dollar starts the week slowly

The US dollar had a mixed start to the week, on a day of low data activity all around. With nothing of note out from the US, its currency had little to go on, and as such saw no single movement to speak of. Key areas saw the dollar slide, losing ground against both sterling and the euro, with the latter particularly active after the weekends developments in Greece.

Today sees activity increase especially from Stateside, with a number of releases due to impact the markets. The first of these comes in the form of the Durable Goods Orders figures, as investors look for data that could support the US dollar this week. Following on from this comes the consumer confidence figure, alongside the new home sales figure. While not as significant as labour market data, positive results in any area are important at the moment, especially with the question over interest rate rise timescales rumbling on and the latest Federal Reserve meeting announcement due tomorrow evening.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted January 27th, 2015 by Charles Purdy

The rouble continues to slide

The Russian rouble continued what has been a January to forget as it weakened significantly. This came as Russian government debt was classified as junk by Standard and Poors and significant bloodshed in Ukraine. The Russian currency slipped almost 4% against the US dollar and no end seems in sight for its woes.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

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