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Posted April 28th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4006   ▲ 
GBP/USD   1.5229
   
EUR/GBP   0.7138   ▼ 
EUR/USD   1.0873    
EUR/AUD   1.3833   ▼ 
GBP/AED   5.5928
  ▲ 
GBP/AUD   1.9335    
GBP/CAD   1.8444    
GBP/CHF   1.4556   ▲ 
GBP/CNY   9.4522   ▲ 
GBP/DKK   10.448   ▲ 
GBP/HKD   11.803   ▲ 
GBP/HUF   420.89    
GBP/INR   96.445   ▲ 
GBP/JPY   181.33   ▲ 
GBP/NZD   1.9966   ▲ 
GBP/PLN   5.5841    
GBP/RUB   78.717   ▲ 
GBP/SEK   13.105  
GBP/THB   49.685   ▲ 
GBP/TRY   4.0913    
GBP/ZAR   18.318    

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Posted April 28th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4006   ▲ 
GBP/USD   1.5229
   
EUR/GBP   0.7138   ▼ 
EUR/USD   1.0873    
EUR/AUD   1.3833   ▼ 
GBP/AED   5.5928
  ▲ 
GBP/AUD   1.9335    
GBP/CAD   1.8444    
GBP/CHF   1.4556   ▲ 
GBP/CNY   9.4522   ▲ 
GBP/DKK   10.448   ▲ 
GBP/HKD   11.803   ▲ 
GBP/HUF   420.89    
GBP/INR   96.445   ▲ 
GBP/JPY   181.33   ▲ 
GBP/NZD   1.9966   ▲ 
GBP/PLN   5.5841    
GBP/RUB   78.717   ▲ 
GBP/SEK   13.105  
GBP/THB   49.685   ▲ 
GBP/TRY   4.0913    
GBP/ZAR   18.318    
Posted April 28th, 2015 by Charles Purdy

Sterling continues its positive run

A largely positive day for sterling on Monday saw it push significantly higher versus the US dollar, whilst trading within relatively narrow boundaries against the euro. A relatively quiet week on the data front for sterling will likely see movements in the currency largely influenced by news from elsewhere. This proved to be the case on Monday, with disappointing services sector growth data from the US allowing sterling to push to the highest levels against the US dollar seen since early March. Coupled with emerging evidence last week that the US economy is losing some steam, sterling looks set to take advantage of the situation.

With little headline news regarding the UK election and the Greek debt situation lacking resolution, sterling saw little significant movement against the euro, and remained below the recent one-month high enjoyed during the middle of last week.

Today sees the release of preliminary UK economic growth data from the first quarter of 2015. As the earliest estimate of this data released, the preliminary reading is set to be eagerly anticipated by investors, and any significant deviation from the growth forecast of 0.5% could see a spell of movement for 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 April 28th, 2015 by Charles Purdy

Euro steady as hope increases for a Greek debt settlement

The euro held steady on Monday after last week’s euro strength, when poor US data put the pressure on the demand for the US Dollar currency. The underlying problem for the single currency is that it remained in a vulnerable position after the European finance ministers said that Greece must present a full economic reform plan by early May in order to access any further funding. This seems more likely following the side lining of the Greek Finance Minister from the negotiations following an acrimonious meeting between the Eurozone Finance Ministers last week. The end game must be soon as Greece has very little money left.

Today should be a more exciting day as we have consumer confidence data released early in the morning – this has been forecast to improve.

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

Posted April 28th, 2015 by Charles Purdy

US Dollar continues to weaken

The US dollar continued to weaken on Monday, following a difficult spell last week. Monday saw the US currency break the 1.52 level against sterling, the first time since the start of March. This can be attributed to a weak Flash Services Purchasing Managers’ Index showing a drop in growth, as well as investors leaving the US dollar due to the recent slowdown in the economy. This has caused some investors to forecast that the next interest rate rise will be towards the end of the year rather than June.

We also have the next meeting of the Federal Reserve this week and although no detailed and updated economic forecast will be released, markets will be keen to get its perspective of whether or not the recent weakness is just a blip or a longer term trend.

Today will see the release of consumer confidence in the US, which is expecting to show a slight increase. However, with recent figures falling short of expectations, we could see yet another poor figure for the US 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 April 28th, 2015 by Charles Purdy

Eyes on Australian central bank meeting

  • Investors looked ahead to the more exciting end of the week after a fairly dry day of data on Monday. However, the Australian dollar still maintained its month-long highs against the US dollar as the expectation weighs heavily on central bank Governor Glenn Steven’s scheduled speech today.
  • Australian is not the only country with key central bank meetings this week as the Central Banks of both Japan and New Zealand meetings will be in the spotlight. The outcome in Japan will be of particular interest, due to the slowness of the Japanese economy.

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

Posted April 27th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3968    
GBP/USD   1.5142
  ▲ 
EUR/GBP   0.7156    
EUR/USD   1.0840    
EUR/AUD   1.3892    
GBP/AED   5.5610
   
GBP/AUD   1.9422    
GBP/CAD   1.8450    
GBP/CHF   1.4492    
GBP/CNY   9.3930    
GBP/DKK   10.422    
GBP/HKD   11.735   ▲ 
GBP/HUF   424.06    
GBP/INR   96.394   ▲ 
GBP/JPY   180.62   ▲ 
GBP/NZD   1.9916   ▲ 
GBP/PLN   5.6450    
GBP/RUB   77.168    
GBP/SEK   13.080    
GBP/THB   49.439   ▲ 
GBP/TRY   4.1436    
GBP/ZAR   18.375    
Posted April 27th, 2015 by Charles Purdy

Sterling gains across the board

A positive week for sterling saw it gain ground across the board, as fears over the uncertain result of the UK general election took a back seat to the Eurogroup meetings and poor economic data from the US. Sterling was particularly impressive against the US dollar hitting a fresh one-month high against the US dollar. European Union finance ministers openly vented their frustration towards the Greek government’s unwillingness to negotiate and at one stage sterling was able to push close to its recent one-month high against the euro before slipping back.

The week ahead sees a low volume of data releases from the UK, although each of these does promise to carry a lot of weight. Preliminary economic growth data for the first quarter will be released on Tuesday, and is expected to demonstrate further healthy growth for the UK. Following this, we will see mortgage approvals and consumer confidence data released ahead of the first of this month’s Purchasing Managers’ Index (PMI) figures being released on Friday from the manufacturing industry. Expectations are for a small improvement from last month and manufacturing continuing to be in an expansion phase.

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

Posted April 27th, 2015 by Charles Purdy

Euro holding on

Despite the on-going Greek debt problem, the euro had a reasonable week last week and even gained ground against the US dollar. The IFO German business sentiment data released on Friday was optimistic helping the currency’s positive trend.

This week should be an interesting one; the majority of the European market are certainly keeping a close eye on Greece, whether its current bailout crisis is under control or an exit from the euro is likely. The situation remains on-going and uncertain, so if Greek bailout talks should take a dramatic turn for the worse over the coming weeks the euro can expect to pay with a heavy fall.

On Thursday we have Eurozone inflation and employment data with the unemployment rate expected to show a slight reduction to 11.2%.

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

Posted April 27th, 2015 by Charles Purdy

US Dollar under pressure

The US dollar had a difficult week last week and weakened further against sterling and the euro on Friday as core durable goods orders data released showed a contraction in core orders being placed, although the overall figure had grown more than expected.

It will be interesting to see if the US dollar continues to weaken against its peers this week. Growth figures to be released on Wednesday for the first quarter are expected to highlight a tough winter and be close to 1%, much less than the 2.2% for the last quarter of 2014. We also have the latest Federal Reserve meeting the same day. It is a fairly low key meeting as there is no press conference following the meeting or new economic forecasts and the expectation is that there will be no change in policy. The weekly unemployment claims for the US is due Thursday, with expectations for another high figure – which could build a negative view for the Non-farm employment figures due next week. The ISM Manufacturing Purchase Managers’ Index will be hoping for a positive sign, especially with the US fighting against the current slowdown.

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

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