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Posted June 30th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4042  
GBP/USD   1.5722  
EUR/GBP   0.7116  
EUR/USD   1.1193  
EUR/AUD   1.4556  
GBP/AED   5.7737  
GBP/AUD   2.0435  
GBP/CAD   1.9488  
GBP/CHF   1.4613  
GBP/CNY   9.7511  
GBP/DKK   10.481  
GBP/HKD   12.187  
GBP/HUF   442.94
 
GBP/INR   100.20  
GBP/JPY   191.97  
GBP/NZD   2.3062  
GBP/PLN   5.8913  
GBP/RUB   87.833  
GBP/SEK   12.944  
GBP/THB   53.064
 
GBP/TRY   4.2295  
GBP/ZAR   19.216  

 

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Posted June 30th, 2015 by Charles Purdy

Sterling surprisingly doesn’t come out on top

Sterling briefly hit a fresh 7-year high against the euro in the early hours of Monday morning, as Greece lurched closer towards a default on their debt repayments. No significant economic data was released yesterday, meaning investors were free to focus on the escalating Greek debt crisis.
News broke over the weekend that Eurozone finance ministers had rejected a request to extend the Greek bailout past Tuesday, and that the European Central Bank (ECB) would not increase emergency funding to Greek banks. This pushed sterling up against the euro, although further worrying news from Greece throughout the day did not counter sterling giving back most of these gains throughout the afternoon as the euro recovered across the board. Perversely sterling performed better against the US dollar, as a strong euro recovery throughout the day affected markets elsewhere.

Today is likely to see investor focus still trained on the Eurozone, although the final confirmation of UK economic growth throughout the previous quarter should provide some local interest. Alongside this, the latest UK current account balance will also be released, and a modest reduction in the deficit is expected.

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

Posted June 30th, 2015 by Charles Purdy

Greece situation rumbles on

With all eyes on the euro on Monday, it started the day very badly but regained ground in the afternoon, despite Greece moving a step closer to a default. The Swiss National Bank did intervene by weakening the Swiss franc, therefore supporting the single currency. The current ceiling for the European Central Bank’s emergency loans is €89 billion, and near enough virtually all this money has been spent across the Eurozone. Late yesterday evening, there were reports that the Greek government had stated that they would not be paying the €1.6 billion loan repayment to the IMF due today – this is likely to be todays big news.

In addition to this, German unemployment data and retail sales data are out this morning, but they are likely to have limited effect on the single currency.

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

Posted June 30th, 2015 by Charles Purdy

US dollar affected by euro market correction

Monday wasn’t the best of days for the US dollar, as it managed, over the full 24 hours, to fall against both sterling and the euro. Given the problems in Greece, this was quite a surprise against the euro. There was no significant data that caused this shift -although pending home sales fell below expectation, it wasn’t a huge difference. In many ways, it just appears that the afternoon strength in the Eurozone was just a market correction.

Today sees the release of the Consumer confidence data, and it is expected to be above last month’s result. Hitting expectation or better could cause the dollar to move closer to the 1.10 mark where it was late on Sunday.

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 June 30th, 2015 by Charles Purdy

Good news for Japan on Monday

Monday came with better-than-expected Japanese retails sales figures, which have grown for the second consecutive month. This shows confident signs in public spending.

The Chinese stocks, however, struggled on Monday, as the negative signs from investors dwarfed the central bank’s effort to spur confidence with an interest rate cut.

Today we expect to hear from the Australian Reserve Bank Governor, with the focus on comments made at the previous reserve bank meeting about Australian dollar weakness which is expected to continue.

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

Posted June 29th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4180  
GBP/USD   1.5724  
EUR/GBP   0.7041  
EUR/USD   1.1085  
EUR/AUD   1.4510  
GBP/AED   5.7747  
GBP/AUD   2.0577  
GBP/CAD   1.9378  
GBP/CHF   1.4740  
GBP/CNY   9.7626  
GBP/DKK   10.580  
GBP/HKD   12.189  
GBP/HUF   446.46
 
GBP/INR   100.41  
GBP/JPY   193.21  
GBP/NZD   2.3023  
GBP/PLN   5.9528  
GBP/RUB   87.210  
GBP/SEK   13.110  
GBP/THB   53.196
 
GBP/TRY   4.2359  
GBP/ZAR   19.336  

 

Posted June 29th, 2015 by Charles Purdy

Greece situation continues to push sterling higher

An eventful end to last week saw sterling push higher against the euro as the Greek government rejected a proposal from their creditors for a five month extension to ease their debt burden. They then called a referendum for next weekend and have closed the Greek banks – desperate times and as a result the euro opened this morning nearly two cents down against sterling.

In contrast sterling had a steady week against most other currencies including the US dollar.

The week ahead sees the release of some key UK data. The latest current account balance is released on Tuesday morning, a significant deficit is forecast, followed swiftly by the final update for first quarter growth figures which are expected to show a slight improvement.

Towards the end of the week, we have the release of June Purchasing Manager Indices from the UK manufacturing, construction, and services industries. Although the earlier two releases will be of interest, investors will be waiting intently for the release of data from the services industry on Friday as this sector dominates the British economy. Expectations are for small increases from Mays readings for all three indices.

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

Posted June 29th, 2015 by Charles Purdy

Euro hurt by Greece

The Greek debacle escalated over the weekend as the Greek government called a referendum for next weekend which caused the euro and stock markets to tumble across the board as markets opened in Asia on Monday morning. It would seem, barring a miracle, that the €1.6 billion repayment due to the International Monetary Fund (IMF) on 30th June won’t be paid. It doesn’t mean that the debt is automatically in default because there is a due process that needs to be gone through but it doesn’t help. So we can expect a week of high drama as events unfold for both Greece and the euro.

There is also a fair amount of Eurozone economic data to be released this week. Today we have inflation data in the form of the German Consumer Price Index (CPI) which is forecast to remain the same, followed on Tuesday with the CPI from the whole of Europe. Then later in the week we have the release of Eurozone Purchasing Managers Indices for Manufacturing and for Services for June.

In think it is safe to say that the euro will see movement this week so if you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted June 29th, 2015 by Charles Purdy

Can the US dollar continue its strong week?

Last week was a strong one for the US dollar, and investors will be hoping that this week follows suit as we have a very busy week for US data releases.

Today we have data for pending home sales, forecast to be down from last month, but the big news for the first half of the week will be the consumer confidence and the ISM manufacturing Purchasing Manager Indices data releases. Positive results for these could boost the US dollar.

In the second half of the week the data releases are focused on employment. On Thursday we have initial claims figures and then on Friday the June key non-farm payroll figures plus the June unemployment rate which is expected to show a fall from the previous month’s figures.

A very busy week for the US dollar and therefore 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 June 29th, 2015 by Charles Purdy

The US dollar comes in high against its namesakes

Friday was relatively quiet in terms of data across the board. The Canadian dollar lost ground against its American counterpart as positive data from the USA on Thursday continued to push in its favour – especially as investors continued their assessment of the Greek debt talks.

The Japanese yen gained yet further ground after the release of data on consumer price, household spending and employment came in greater than expected – again especially considering the situation in Greece.

Looking at the week ahead, we have a busy week for Australia with the Governor of the Reserve Bank of Australia speaking on Tuesday, Wednesday sees the release of the Australian trade balance, while Thursday sees the release of Australian retail sales. Tuesday also sees the release of the monthly Canadian GDP figures.

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

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