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Posted February 27th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE      CHANGE
GBP/EUR   1.3774      
GBP/USD    1.5437      
EUR/GBP   0.7256      
EUR/USD   1.1202      
EUR/AUD   1.4346      
GBP/AED    5.6678      
GBP/AUD   1.9746    ▲    
GBP/CAD   1.9272    ▲    
GBP/CHF   1.4643      
GBP/DKK   10.284      
GBP/HKD   11.971      
GBP/INR    95.474      
GBP/JPY   184.19      
GBP/NZD    2.0436      
GBP/SEK    12.960      
GBP/TRY   3.8500      
GBP/ZAR   17.742      

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Posted February 27th, 2015 by Charles Purdy

Sterling gains even more ground against the euro

A positive week for sterling has seen it gain ground against both the US dollar and the euro, following encouraging comments from Bank of England (BoE) Governor Mark Carney on the UK’s current level of inflation. Sterling reached the highest level against the euro since December 2007, thanks to continued uncertainty over the Greek debt situation – after a member of the European Union Commission commented on Thursday that the Greek bailout could well be larger than forecast. A more mixed performance was seen against the US dollar, with sterling initially rising to the highest levels since the turn of the year following dovish comments by Federal Chairwoman Janet Yellen. However, with US core inflation data showing that it had risen above expectations in January, sterling dropped back steeply against the US dollar.

A quiet day for UK data lies ahead, with attention focused instead on inflation data from Germany. and preliminary economic growth data from the US.

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

Posted February 27th, 2015 by Charles Purdy

Euro friendless and weakening

The euro continues to be under pressure losing over a cent against both the US dollar and sterling during the course of yesterday afternoon. Business and consumer confidence sentiment data released on Thursday disappointed as they came out worse than forecast.

Today the consumer price index will be out at 1pm, and this is forecast to improve from -0.4% up to -0.2%.

The euro has very few friends and lots of problems and to compound this we have the start of Eurozone quantitative easing in March.

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

Posted February 27th, 2015 by Charles Purdy

US Dollar boosted by inflation data

Thursday was a busy day for the US Dollar, with very mixed data releases. We saw the release of contrasting US Inflation data. Overall inflation dropped to its lowest figure since January 2009, but the Core Inflation figure was positive and higher than market expectations. Generally, the Core Inflation figure will be more accurate and in line with actual US inflation, as this excludes the volatile reading from energy and food prices (which have been both been affected by the recent slump in oil prices). US Unemployment Claims and Durable Goods Orders both recorded an increase month-on-month.

We expect another busy day for the US Dollar today, with the release of the initial growth figure. This is forecast to show positive growth for the fourth quarter of 2014, and be above average when compared to other key developed nations. We also have the release of Housing Data and consumer confidence indicator plus two members of the Federal Reserve are due to give speeches.

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 February 27th, 2015 by Charles Purdy

Russian rouble best performing major currency in February!

The Russian rouble has been the best performing major currency in February 2015. Respite from a falling oil price and the possibility of a cease fire in Ukraine helped reverse the recent trends; it was the worst performing major currency in 2104 and closed at the end of January at record lows against the US dollar. However market commentators expect the downward trend to continue as desperately needed inward investment is unlikely to be forthcoming given the situation in Ukraine.

The Canadian dollar had an unexpected mid-week drop on Thursday, even following better than expected data from the country; Consumer prices fell 0.2% last month, compared to the greater decline expected and compared to a much steeper drop of 0.7% in January.

Strong data out of New Zealand on Thursday saw the kiwi dollar trading at almost one month highs against the US dollar. The country’s trade balance swung into a surplus of NZ$56 million last month from a deficit of NZ$195 million in December.

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

Posted February 26th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE      CHANGE
GBP/EUR   1.3664      
GBP/USD    1.5527      
EUR/GBP   0.7315      
EUR/USD   1.1360      
EUR/AUD   1.4430    ▲    
GBP/AED    5.7035        
GBP/AUD   1.9695    ▲    
GBP/CAD   1.9263      
GBP/CHF   1.4714      
GBP/CNY   9.7173      
GBP/DKK   10.204      
GBP/HKD   12.041      
GBP/HUF    415.74      
GBP/INR    96.112      
GBP/JPY   184.32      
GBP/NZD    2.0446      
GBP/RUB    94.274      
GBP/SEK    12.861      
GBP/THB   50.208      
GBP/TRY   3.8561      
GBP/ZAR   17.698        
Posted February 26th, 2015 by Charles Purdy

Sterling continues its good run

A good Wednesday for sterling saw it hit highs against both the euro and US dollar during the morning. With no major economic data released from the UK yesterday, sterling movement was “measured” as investors remained unwilling to speculate unduly on movements against either the euro or US dollar. Bank of England Governor Mark Carney spoke during the morning, but with the subject of his speech focused on research and not monetary policy, there was little market reaction to this. Similarly, US Federal Reserve chairperson Janet Yellen reiterated comments made on Tuesday which has reduced expectation of an imminent US interest rate increase which has seen sterling strength against the dollar.

Today sees the release of the second estimate of UK economic growth for the final quarter of 2014. Should we see any revision to the initial estimate of 0.5% growth, we may see increased sterling movement. Elsewhere, the release of inflation figures from the US will provide an indication whether the recent fall in oil prices is still having a major effect on the US economy.

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

Posted February 26th, 2015 by Charles Purdy

Will todays flow of German data boost the euro?

The euro remained largely unchanged on Wednesday against other major currencies. This was largely due to the on-going concerns over Greece’s bailout extension, which is keeping investors cautious. This morning however, we see a raft of data out of Germany – this includes consumer confidence, retails sales and unemployment data. This could be a boost for a currency that desperately needs one.

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

Posted February 26th, 2015 by Charles Purdy

Will today’s data releases boost the US Dollar?

A busy day was expected on Wednesday for the US Dollar, with Federal Reserve Chair Yellen continuing her testimony in front of the House Financial Services Committee. However the main points taken from this statement were mainly reiterations from the first part of the testimony on Tuesday, and as such had limited effect on the market. In conjunction with this, New Homes Sales data was also released yesterday – and this showed a positive figure for the housing market in the US.

Today is a busy day for data which may well benefit the US dollar if positive. Consumer Inflation is expected to rise when compared to the previous month. However, we have already seen these figure come under pressure of late, due to the recent fall in energy costs. The weekly unemployment claims are also due and these have shown a positive trend lately – backing up comments made by Federal Chair Yellen that she expects continued growth in the employment market. Lastly, Durable Goods Orders data will be released, which are expected to be positive and show confidence for consumers.

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 February 26th, 2015 by Charles Purdy

Australian dollar’s week improves

The Australian dollar jumped to one month highs against the US dollar on Wednesday thanks to a much needed mid-week boost. A report by the Australian Bureau of Statistics stated that completed construction had slipped by 0.2% in the fourth quarter of 2014, confounding the expectations of a 1.2% decline. A second release showed that Australia’s Wage Price Index rose last quarter – and both these pieces of data showed positive signs for the Australian economy.

In China the Purchasing Managers Index from HSBC moved into positive territory, the first time in three months, which was good news. However Chinese exports are contracting and input/output prices in the manufacturing sector are falling so we could see deflation being exported from China later in the year.

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

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