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Posted February 25th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE      CHANGE
GBP/EUR   1.3628      
GBP/USD    1.5501      
EUR/GBP   0.7334      
EUR/USD   1.1372      
EUR/AUD   1.4425      
GBP/AED    5.6925        
GBP/AUD   1.9664      
GBP/CAD   1.9292      
GBP/CHF   1.4684      
GBP/CNY   9.7018      
GBP/DKK   10.170      
GBP/HKD   12.020      
GBP/HUF    415.92      
GBP/INR    96.168      
GBP/JPY   184.20        
GBP/NZD    2.0529      
GBP/RUB    96.958      
GBP/SEK    12.990      
GBP/THB   50.442      
GBP/TRY   3.8055        
GBP/ZAR   17.742        

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Posted February 25th, 2015 by Charles Purdy

Canadian dollar at two week lows

The Canadian dollar dropped to two week lows against the US dollar on Tuesday, as the US currency was strengthened by the congressional testimony by Federal Reserve Chair Janet Yellen. The Canadian dollar was also feeling the pinch from the weak Canadian domestic retail sales published last Friday, which had given the indication that the Canadian Central Bank could be likely to implement another rate cut.

Tuesday was also a poor day for the New Zealand dollar, which faltered following a report that showed inflation expectations for New Zealand had declined in the last quarter. The official report by the Reserve Bank of New Zealand said its inflation expectations for the next two years had fallen by 0.3% to 1.8% in the fourth quarter of 2014.

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

Posted February 25th, 2015 by Charles Purdy

US Dollar steady as Yellen worries about wage growth

Quite a mixed day for the US Dollar, with both positive and negative news. The US opened up with Flash Services PMI (Purchase Managers Index), which showed growth in the sector and was the highest we have seen since October 2014. However, the gains gleaned from this were quickly reversed when the Consumer confidence release was below the forecasted figure. Alongside the data releases, we also had Federal Chair Yellen testify before the Senate Banking Committee, confirming that a rate rise could happen at any Federal Reserve Member meeting – but really they would like to see continuing growth in the wages and labour markets before this happens.

Today Federal Chair Yellen continues her Testimony, and we will see the release of the US New Home Sales figures, which has shown previously a steady rise in new house purchases.

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 25th, 2015 by Charles Purdy

Euro steady as Greece gets 4 month debt extension

On Tuesday the euro made ground during the morning but weakened off again as the afternoon progressed, with the Consumer Price Index data coming out as expected – it had limited impact. The strength in the middle of the day came due to the European finance ministers approving Greece’s reform program, confirming a four month extension of the country’s bailout agreement. You would hope that the politicians will use the four months wisely but often politicians defy logic and I would expect come the end of June there will be a mad dash and lots of brinkmanship to sort out the Greek debt problem. Hopefully we will be proved wrong by the politicians.

There are very little data releases today so we should expect a slow pace from the single currency.

The main story that should take centre stage now in the Eurozone is how effective will the European Central Banks programme of quantitative easing be. This starts in March with the hope that it will boost the Eurozone economy.

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 25th, 2015 by Charles Purdy

Sterling supported by Governors comments

A steady day for sterling saw it trade within broad boundaries on Tuesday, as Governor Carney of the Bank of England (BoE) vowed that policy makers would look beyond the current low inflation when considering interest rates. With mounting labour-cost pressures increasing the urgency for an increase in interest rates, sterling has found itself well-supported throughout February. This positive sentiment was echoed by Mark Carney, who emphasised that the impact of oil and food prices on inflation were temporary. Sterling strengthened back to a seven year high against the euro on the back of these comments, before slipping again throughout the afternoon; ground was also regained against the US dollar on Tuesday afternoon when Federal chair Yellen warned that low wage growth demonstrated significant slack remaining in the US labour market.

Another interesting day lies ahead, with the central bank heads of the UK, US and Eurozone again due to speak. As with yesterday, investors will be listening intently for any insight into monetary policy, whilst euro investors will be particularly keen to hear of any developments to the ongoing Greek debt crisis when European Central Bank President Mario Draghi speaks.

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 24th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE      CHANGE
GBP/EUR   1.3642      
GBP/USD    1.5447      
EUR/GBP   0.7326      
EUR/USD   1.1322      
EUR/AUD   1.4580      
GBP/AED    5.6745        
GBP/AUD   1.9896      
GBP/CAD   1.9487      
GBP/CHF   1.4677      
GBP/CNY   9.6615      
GBP/DKK   10.172      
GBP/HKD   11.981      
GBP/HUF    416.78      
GBP/INR    96.181      
GBP/JPY   184.32        
GBP/NZD    2.0722   ▲   
GBP/RUB    97.736      
GBP/SEK    13.001      
GBP/THB   50.313      
GBP/TRY   3.8309    ▲    
GBP/ZAR   18.020    ▲    
Posted February 24th, 2015 by Charles Purdy

Sterling starts the week with a bang

Sterling had a good start to the week, gaining ground across the board even though it had struggled in early trading. There was a dearth of UK news but this didn’t stop sterling and by the end of the day it had risen to fresh 7-year highs against the euro and close to a six-week high against the dollar.

Today we see important data released from around the globe. From the UK, there is the inflation report hearing where Bank of England policy makers will testify on inflation and the economic outlook before Parliament’s Treasury Committee. Direct comments made here regarding the currency markets could result in movement for sterling, particularly with the heads of both the European and US central banks speaking later in the day, so best to expect another busy day in the currency markets.

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 24th, 2015 by Charles Purdy

The Euro continues to struggle

On Monday, the euro was weak against the other major currencies as concerns over the conditions of Greece’s bailout extension kept investors nervous – despite the big news on Friday that the euro zone had approved the extension of Greece’s €240 billion bailout, removing, hopefully, the possibility that Greece would go bankrupt when its current bailout agreement expires on February 28th.

Europe’s biggest country, Germany, had some positive news with the business confidence survey release which rose for the fourth time in as many months. However, the 106.7 figure was below the forecasted 107.7, although a slight improvement on January’s 106.7, which helped to undermine the euro. Today we have more data for Germany, growth data which is forecast to be 1.6%, and for Europe as a whole, we have the Consumer Price Index, which is forecast to have fallen further to -0.6%. Deflation seems to be well entrenched in the Eurozone.

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 24th, 2015 by Charles Purdy

US Dollar starts the week quietly

In recent weeks, the general trend for the dollar is a quiet beginning of the week – and this Monday was no exception. The only release was Existing Home Sales, which was negative and fell to its lowest level since May 2014.

Today we can expect a busier day, with the releases of the Services Purchase Managers’ Index (PMI) and Consumer Confidence – which has been quite a strong figure as of late for the US. Also today, Federal Reserve Chair Yellen is due to testify on the Semi-annual Monetary Policy Report before the Senate Banking Committee; the focus here is expected to be on the question and answer session after the main report, with spotlight on a possible Interest rate hike or what thresholds need to be hit before it will happen.

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 24th, 2015 by Charles Purdy

Swiss franc drops

The Australian dollar had a poor start to the week as it fell away from two-week highs against its US counterpart on Monday. This was largely due to Friday’s upbeat US data, which continued to strengthen the US currency’s position going into this week. The Aussie dollar was also lower against the euro, as the EUR/AUD rate dropped to 1.4542.

Monday saw the Swiss franc drop over 1% against the US dollar, as relief over Friday’s agreement on a four month bailout extension for Greece fed appetite for risk. Markets have been hit by growing concerns over a possible Greek exit from the Eurozone, should the country have missed its most recent debt payment.

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

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