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Posted June 26th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4052  
GBP/USD   1.5742  
EUR/GBP   0.7114  
EUR/USD   1.1200  
EUR/AUD   1.4538  
GBP/AED   5.7813  
GBP/AUD   2.0423  
GBP/CAD   1.9442  
GBP/CHF   1.4707  
GBP/CNY   9.7733  
GBP/DKK   10.483  
GBP/HKD   12.202  
GBP/HUF   438.41
 
GBP/INR   100.11  
GBP/JPY   194.27  
GBP/NZD   2.2883  
GBP/PLN   5.8629  
GBP/RUB   86.329  
GBP/SEK   12.994  
GBP/THB   53.140
 
GBP/TRY   4.1874  
GBP/ZAR   19.108  

 

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Posted June 26th, 2015 by Charles Purdy

Sterling sees strength

A mixed week for sterling has seen marginal gains against the euro tempered by a disappointing week versus the US dollar. With no significant data released from the UK this week, sterling movements were largely dominated by events elsewhere. At the forefront of investors’ minds has been the ongoing Greek debt crisis – the Greek government have been trying to secure funding at eleventh-hour Eurogroup meetings with European finance ministers.

With Monday’s Eurogroup meetings passing with no word of a deal, sterling strengthened throughout the start of the week to the best levels seen in a month against the single currency. However, with a second round of meetings taking place mid-week, and heightened optimism over the likelihood of a deal being struck, sterling fell away against the euro throughout the latter parts of the week.

Against the US dollar, sterling has steadily lost ground following positive data released from the states. Monday’s existing home sales data beat expectations, whilst economic growth figures on Wednesday saw the economy contract in line with expectations.

Today we will hear from Bank of England (BoE) Governor Mark Carney, and with Barclays yesterday forecasting the first interest rate hike to come in the first quarter of 2016, and increases to follow every 6 months thereafter, investors will be keen to hear any hints from the Governor.

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 26th, 2015 by Charles Purdy

Quiet day for the Euro

Thursday was a pretty quiet day for the euro as there was, yet again, no deal for Greece. The single currency weakened throughout the day against sterling, and was fractionally lower against the US dollar. Time is running out for the Greek government to secure a deal to unlock bailout funds ahead of the looming deadline for a €1.6 billion repayment to the International Monetary Fund (IMF) on 30th June. With little data out except for German consumer confidence, which came out marginally worse than forecast at 10.1, it really was a quiet day.

Without sounding like a broken record, the main focus today will still be in Greece and how matters unfold for them. Other than that, we had French consumer confidence data out earlier this morning.

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 26th, 2015 by Charles Purdy

Positive week so far for the US dollar

It was a good week overall for the US dollar as it strengthened against the pound by 1% and almost 2% against the Euro. It was an almost flawless week for the US in terms of economic data, with all major releases either matching or exceeding expectations, including unemployment claims yesterday, which were as predicted. The Consumer Sentiment is out today and is expected to be the same as last month’s.

With continued strength like this, it is no wonder that some major banks, including the likes of Morgan Stanley and RBS, are forecasting a cross over between the dollar and euro. One false move with Greece and we could see this happen a lot sooner.

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 26th, 2015 by Charles Purdy

Positive week so far for the US dollar

It was a good week overall for the US dollar as it strengthened against the pound by 1% and almost 2% against the Euro. It was an almost flawless week for the US in terms of economic data, with all major releases either matching or exceeding expectations, including unemployment claims yesterday, which were as predicted. The Consumer Sentiment is out today and is expected to be the same as last month’s.

With continued strength like this, it is no wonder that some major banks, including the likes of Morgan Stanley and RBS, are forecasting a cross over between the dollar and euro. One false move with Greece and we could see this happen a lot sooner.

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 26th, 2015 by Charles Purdy

Positive news from Canada, discouraging news from Switzerland

  • The Canadian dollar has strengthened through the week, especially on the back of wholesale figures which rose by 0.8% in March, following recent declines. Positivity is returning to the Canadian dollar following this data release, as we also enter the summer, when economic activity normally increases.
  • Comments made by a Swiss Central Bank member seemed to have weakened the Swiss franc. The mention of potential willingness to cut interest rates to negative territory drove the Swiss franc over a cent against sterling on Thursday – this was accentuated by the effect of the global economy on the Swiss currency.
  • The Japanese economy has been struggling recently, due to low oil prices. It will be interesting to see the results of today’s inflation data, which is expected to be positive. Encouragingly, the country is still showing growth in inflation.

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

Posted June 25th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4011  
GBP/USD   1.5710  
EUR/GBP   0.7132  
EUR/USD   1.1208  
EUR/AUD   1.4500  
GBP/AED   5.7703  
GBP/AUD   2.0313  
GBP/CAD   1.9464  
GBP/CHF   1.4661  
GBP/CNY   9.7517  
GBP/DKK   10.452  
GBP/HKD   12.177  
GBP/HUF   437.11
 
GBP/INR   99.884  
GBP/JPY   194.39  
GBP/NZD   2.2771  
GBP/PLN   5.8443  
GBP/RUB   85.689  
GBP/SEK   12.926  
GBP/THB   53.028
 
GBP/TRY   4.1925  
GBP/ZAR   19.041  

 

Posted June 25th, 2015 by Charles Purdy

Sterling loses ground to the euro and US dollar

Following a positive start to the day, sterling drifted lower against both the euro and US dollar as news from elsewhere once again proved to be the major determinant of rate movements. The UK currency started the day in high spirits, with early gains seen across the board following comments from Bank of England (BoE) policy maker Weale that interest rates could increase as soon as August. This comes in light of strong labour data, although it is unlikely we will see a rate hike arise this early in the year.

Sterling found itself trading within wide boundaries ahead of the evening’s Eurogroup meetings where, Eurozone finance ministers were set to discuss a cash-for-reform deal with the Greek government.

Sterling also struggled throughout the day against the US dollar, as confirmation of 0.2% economic growth throughout the previous quarter saw sterling fall to a one-week low against the US currency.

Once again we will be looking elsewhere for the major news releases today. Fallout from last night’s Eurogroup meetings looks set to dominate headlines, while unemployment claims from the US could provide further support to a US dollar on the rebound.

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 25th, 2015 by Charles Purdy

An air of optimism keeps the euro above water

The euro remained slightly higher against the US dollar and sterling on Wednesday as there was an air of optimism around Greece and the general consensus is that a deal is that a bailout deal is growing closer. However, hopes for any sort of deal faded after Greece’s international creditors refused to accept some of Athens’s most up-to-date proposals. Greek Prime Minister Alexis Tsipras criticised the move ahead of talks with the European Central Bank (ECB) and the International Monetary Fund (IMF) but a deal is still expected in the coming days, as time truly is running out.

This morning we saw consumer confidence data from Germany. Other than this there are no significant data releases from Europe. Investors will be watching the situation in Greece unfold.

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 25th, 2015 by Charles Purdy

Busier day today for the US dollar in terms of data releases

Yesterday was quiet for the US dollar in terms of data releases, with the final growth figure showing an expected increase on last month’s, but still floundering in the negative. With the recent weakness in the euro due to the ongoing Greece-Eurozone talks, the US dollar has strengthened slightly against both the euro and sterling.

The weekly unemployment figures are due this afternoon – a slight increase on last week’s figures is expected. Any surprises on this front could cause movements in US dollar markets.

We will also be seeing key data releases that the US Federal Reserve would like continued strength in – personal spending and personal income. Strength in both should suggest an increase in retail sales. The flash services purchasing managers’ index is also due to show positivity, with continued growth in the sector.

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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