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Posted November 26th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4226  
GBP/USD   1.5088   -
EUR/GBP   0.7027  
EUR/USD   1.0606  
EUR/AUD   1.4677  
GBP/AED   5.5427  
GBP/AUD   2.0874  
GBP/CAD   2.0074  
GBP/CHF   1.5438  
GBP/CNY   9.6405  
GBP/DKK   10.614  
GBP/HKD   11.694  
GBP/HUF   444.38
 
GBP/INR   100.46  
GBP/JPY   184.91  
GBP/NZD   2.2891  
GBP/PLN   6.0782  
GBP/RUB   99.080  
GBP/SEK   13.178  
GBP/THB   53.909     
GBP/TRY   4.3693  
GBP/ZAR   21.405  

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Posted November 26th, 2015 by Charles Purdy

Sterling up on Autumn Statement comments

Sterling fared better on Wednesday, seeing the strongest single day of gains against the euro in over a week as Chancellor George Osborne revealed that the UK economic growth forecast for 2016 had been revised upwards to 2.4% from 2.3%. A tough start to the day had seem sterling fall across the board, and there was little news released throughout the morning to support the currency. However, with an upgraded economic growth forecast and a 2020 budget surplus on track, sterling recovered strongly throughout the afternoon.

Sterling did struggle to some degree versus the US dollar, with US unemployment claims falling further than expected, moving closer to a four-decade low. With this resilience in the labour market likely to increase pressure to raise interest rates in the US, sterling saw a muted benefit against the dollar. Today’s Thanksgiving holiday in the US promises to result in muted trade volumes, and with little significant economic data set to be released from the UK, investors will be looking forward to Friday’s estimate of economic growth over the past quarter. However, events elsewhere may have an impact on sterling strength.

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

Posted November 26th, 2015 by Charles Purdy

Euro weakens to fresh lows

The euro managed to fall to fresh lows against the US dollar on Wednesday, while it also struggled throughout the day against sterling. It reached the lowest point in over seven months against the US dollar as strong US data was released, which then added to expectations that the US Federal Reserve will raise interest rates in December.

UK Chancellor George Osborne also spoke positively about the UK economy in his Autumn Statement, which in turn had a negative impact on the euro in relation to the UK currency. With no data or news out of the Eurozone or its members, there was nothing to support the euro, and so it suffered.

Given the Thanksgiving bank holiday in the US today, the euro could see some improvements from yesterday. However, the main data out today is the Eurozone money supply figure, which is forecast to remain at 4.9%, in line with last month’s reading. However, Friday should be a big day for the Eurozone, as it will be a data-heavy day.

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

Posted November 26th, 2015 by Charles Purdy

Mixed day for US dollar

It was a mixed day for the US dollar in terms of data releases seen on Wednesday. The major release of the day, durable goods data, marked its largest figure in months, with the weekly unemployment claims also showing yet another stable figure. However, personal spending fell just short of the expected figure, failing to show signs of growth from the previous month.

With significant data releases from the US done for the week due to Thanksgiving today, attention will turn to next week’s non-farm employment change figure, which could affect dollar strength.

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 November 26th, 2015 by Charles Purdy

Bank of Japan monetary policy likely to remain unchanged

The Bank of Japan’s Monetary Policy meeting minutes were released late on Tuesday, along with the Services Producers’ Price Index. The latter was slightly below expectation and the meeting suggested that monetary policy will remain unchanged, despite Japan’s growth declining 0.8% in the three months from July to September. Yesterday was quiet for Japan with no economic data out, but today we see the release of household spending and Tokyo core inflation data. Both are expected to be slightly better than last month’s figures – any surprises could affect the Japanese yen.

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

Posted November 25th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4128  
GBP/USD   1.5088  
EUR/GBP   0.7073  
EUR/USD   1.0675  
EUR/AUD   1.4676  
GBP/AED   5.5415  
GBP/AUD   2.0733  
GBP/CAD   2.0065  
GBP/CHF   1.5312  
GBP/CNY   9.6378  
GBP/DKK   10.542  
GBP/HKD   11.693  
GBP/HUF   441.02
 
GBP/INR   99.981  
GBP/JPY   184.49  
GBP/NZD   2.2960  
GBP/PLN   6.0331  
GBP/RUB   98.855  
GBP/SEK   13.110  
GBP/THB   53.782    ▼ 
GBP/TRY   4.3481  
GBP/ZAR   21.218  
Posted November 25th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4128  
GBP/USD   1.5088  
EUR/GBP   0.7073  
EUR/USD   1.0675  
EUR/AUD   1.4676  
GBP/AED   5.5415  
GBP/AUD   2.0733  
GBP/CAD   2.0065  
GBP/CHF   1.5312  
GBP/CNY   9.6378  
GBP/DKK   10.542  
GBP/HKD   11.693  
GBP/HUF   441.02
 
GBP/INR   99.981  
GBP/JPY   184.49  
GBP/NZD   2.2960  
GBP/PLN   6.0331  
GBP/RUB   98.855  
GBP/SEK   13.110  
GBP/THB   53.782    ▼ 
GBP/TRY   4.3481  
GBP/ZAR   21.218  
Posted November 25th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4128  
GBP/USD   1.5088  
EUR/GBP   0.7073  
EUR/USD   1.0675  
EUR/AUD   1.4676  
GBP/AED   5.5415  
GBP/AUD   2.0733  
GBP/CAD   2.0065  
GBP/CHF   1.5312  
GBP/CNY   9.6378  
GBP/DKK   10.542  
GBP/HKD   11.693  
GBP/HUF   441.02
 
GBP/INR   99.981  
GBP/JPY   184.49  
GBP/NZD   2.2960  
GBP/PLN   6.0331  
GBP/RUB   98.855  
GBP/SEK   13.110  
GBP/THB   53.782    ▼ 
GBP/TRY   4.3481  
GBP/ZAR   21.218  
Posted November 25th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.4128  
GBP/USD   1.5088  
EUR/GBP   0.7073  
EUR/USD   1.0675  
EUR/AUD   1.4676  
GBP/AED   5.5415  
GBP/AUD   2.0733  
GBP/CAD   2.0065  
GBP/CHF   1.5312  
GBP/CNY   9.6378  
GBP/DKK   10.542  
GBP/HKD   11.693  
GBP/HUF   441.02
 
GBP/INR   99.981  
GBP/JPY   184.49  
GBP/NZD   2.2960  
GBP/PLN   6.0331  
GBP/RUB   98.855  
GBP/SEK   13.110  
GBP/THB   53.782    ▼ 
GBP/TRY   4.3481  
GBP/ZAR   21.218  
Posted November 25th, 2015 by Charles Purdy

Sterling falls to close to seven-month lows

A poor day for sterling saw it lose ground across the board as the Bank of England (BoE) suggested that UK inflation and economic growth could remain below expectations for a prolonged period. However, the most significant movement was seen during the inflation report hearing when BoE Governor Carney warned that UK interest rates were set to remain low ‘for some time’.

Also sterling’s cause was not helped by positive German business climate data released in the morning or better-than-expected economic growth figures from the US which showed growth through the previous quarter of 2.1% against an expected 2.0%, pushing sterling close to the seven-month low seen earlier in the month against the US dollar.

The main event of the day here in the UK is the Chancellors autumn statement where, given the Conservatives have a parliamentary majority, he will start to implement their long stated goal of reducing public expenditure. It could cause a lot of turbulence for sterling.

Otherwise it is a quiet day for UK data and therefore attention shifts again to the US, where core durable goods orders and unemployment claims data could apply more pressure to an already struggling sterling.

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

 

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