Posted December 1st, 2010 by Charles Purdy
Daily Currency Note
EURO/GBP - 1.1951
US$/GBP – 1.5623
CHF/GBP – 1.5714
CAN$/GBP – 1.5961
AUS$/GBP – 1.6213
ZAR/GBP – 11.0146
JPY/GBP – 130.875
HKD/GBP – 12.1331
NZD/GBP – 2.0936
SEK/GBP – 10.9294
US$/EURO – 1.3066
Sterling climbed against the euro yesterday as concerns over sovereign debt in the euro zone continued to hamper the single currency. As a result, sterling broke the €1.19/ £1 barrier for the first time in around 2 months. The risk aversion that saw investors pull out of the single currency and into sterling also saw sterling lose ground against the US dollar, with sterling dropping to $1.5480/£1 for a time before levelling out at the $1.5530/£1 mark. The sterling/ US dollar rate is a real indicator of investors’ feelings towards risk and with Commerzbank forecasting a return to $1.52/£1 today in the short term, it is a far cry from the giddy heights of $1.6290/£1 that we saw on Bonfire night – just a few weeks ago. This kind of volatility demonstrates why you should be in touch to discuss forward contracts to protect against this kind of movement.
In the Euro zone, the euro plummeted to 10 week lows against the US dollar yesterday as the Irish bail out failed to dampen speculation over the need for further rescue packages in the region. The single currency dropped below $1.30/ €1 for the first time since September as worries over ‘contagion’ hammered the euro zone debt markets. Spain, Italy and Belgium’s cost of borrowing hit record highs yesterday, as many feared these countries would not be able to face their debt obligations. One analyst felt that this risk of default could spread to countries outside the euro zone as there are “no safe sovereign borrowers”. In terms of data, there is German retail sales figures released today, but these are likely to be insignificant in the grand scheme of things. Call in now for a live exchange rate.
In the USA, the US dollar continued to attract demand from risk adverse investors yesterday. The currency has been the ‘safe haven’ for those investors looking to avoid losses, with most buying US government bonds – traditionally one of the safest (but consequentially lowest yielding) investments globally. US data was positive yesterday, with consumer confidence and purchasing data both beating expectations. Out today, there is a wide range of data being released so call in now for a live price.
Elsewhere, the Japanese Ministry of Finance confirmed that it did not intervene in the currency markets between October 28th and November 26th. The Japanese government stepped in on September the 15th and sold $25bn worth of yen to bring the Japanese yen off 15 year highs against the US dollar and help make Japanese exports more competitive.
For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com
Topic: Currency Exchange, Currency Rates, bank of england
Posted September 22nd, 2010 by Charles Purdy
Daily Currency Note
EURO/GBP – 1.177 US$/GBP – 1.569 CHF/GBP – 1.561 CAN$/GBP – 1.603 AUS$/GBP – 1.639 ZAR/GBP – 11.028 JPY/GBP – 133.15 HKD/GBP – 12.172 NZD/GBP – 2.128 US$/EURO – 1.331 Sterling fell to a 2 month low against the euro yesterday after stronger than expected demand for Irish and Greek government bonds eased concerns over Continue Reading…
Topic: Australian Dollar, Currency Exchange, Currency Rates, Euro, Pound, Smart Currency Exchange, Sterling, UK government, US Dollar, USD, bank of england, euro zone, exchange rates, uk economy
Posted September 21st, 2010 by Charles Purdy
Daily Currency Note 21/09/10
EURO/GBP – 1.186 US$/GBP – 1.551 CHF/GBP – 1.558 CAN$/GBP – 1.596 AUS$/GBP – 1.639 ZAR/GBP – 11.052 JPY/GBP – 132.56 HKD/GBP – 12.049 NZD/GBP – 2.131 US$/EURO – 1.308 Sterling fell to a 7 week low against the euro yesterday after poor UK data highlighted a slow UK recovery. Data showed that lending to Continue Reading…
Topic: Australian Dollar, Currency Exchange, Currency Rates, Euro, Pound, Rates, Smart Currency Exchange, Sterling, US Dollar, US economy, USD, bank of england, euro zone, uk economy
Posted September 2nd, 2010 by Charles Purdy
EURO/GBP – 1.203 US$/GBP – 1.540 CHF/GBP – 1.560 CAN$/GBP – 1.620 AUS$/GBP – 1.695 NZD/GBP – 2.155 EURO/US$ – 1.280 Sterling hit a 3 week low against the euro yesterday after UK purchasing manager data came in sharply lower than was expected. The survey asks business purchasing managers whether they have bought more or Continue Reading…
Topic: Currency Exchange, Currency Rates, Euro, Pound, Smart Currency Exchange, Sterling, US Dollar, US economy, USD, bank of england, euro zone, uk economy
Posted September 1st, 2010 by Charles Purdy
EURO/GBP – 1.210US$/GBP – 1.540CHF/GBP – 1.564CAN$/GBP – 1.636AUS$/GBP – 1.709NZD/GBP – 2.189EURO/US$ – 1.272 Sterling fell across the board on Tuesday as concerns over the global economy sent jitters through financial markets. Sterling dropped to a 5 week low of $1.5327/£1 – breaking through the 200 day ‘moving average’ which means there is likely Continue Reading…
Topic: Currency Exchange, Euro, Pound, Smart Currency Exchange, Sterling, US Dollar, USD, bank of england, euro zone, swiss franc
Posted August 31st, 2010 by Charles Purdy
EURO/GBP – 1.216US$/GBP – 1.542CHF/GBP – 1.573CAN$/GBP – 1.634AUS$/GBP – 1.731NZD/GBP – 2.202EURO/US$ – 1.267 Sterling’s movement last week was dictated by risk sentiment as sterling suffered on increased risk aversion at the start of the week but benefitted towards the end of the week due to gains in global stock markets. UK quarterly growth Continue Reading…
Topic: Currency Exchange, Currency Rates, Euro, Pound, Rates, Smart Currency Exchange, Sterling, US Dollar, US economy, USD, bank of england, euro zone, uk economy
Posted August 27th, 2010 by Charles Purdy
EURO/GBP – 1.219US$/GBP – 1.552CHF/GBP – 1.590CAN$/GBP – 1.643AUS$/GBP – 1.749NZD/GBP – 2.203EURO/US$ – 1.272 Sterling benefitted from improved risk sentiment as gains in stock markets gave investors the confidence to seek higher returns elsewhere. Sterling reached $1.5545/£1 against the US dollar as the FTSE 100 gained 1% through the day. Today sees the release Continue Reading…
Topic: Euro, Pound, Smart Currency Exchange, Sterling, US Dollar, US economy, USD, bank of england, euro zone, uk economy
Posted August 26th, 2010 by Charles Purdy
EURO/GBP – 1.223US$/GBP – 1.553CHF/GBP – 1.599CAN$/GBP – 1.640AUS$/GBP – 1.751NZD/GBP – 2.209EURO/US$ – 1.270 Sterling had a fairly quiet day yesterday and remains range bound against the euro and US dollar. With trading volumes still low due to the holiday season any negative surprises could hit confidence in sterling and lead to larger movements Continue Reading…
Topic: Currency Exchange, Euro, Pound, Smart Currency Exchange, Sterling, US Dollar, US economy, USD, bank of england, emergency budget, euro zone, uk economy
Posted August 25th, 2010 by Charles Purdy
EURO/GBP – 1.214US$/GBP – 1.544CHF/GBP – 1.587CAN$/GBP – 1.634AUS$/GBP – 1.738NZD/GBP – 2.188EURO/US$ – 1.271 Yesterday sterling fell to a one month low against the US dollar and ended four days of gains against the euro over fears of a double-dip recession. Martin Weale, a Bank of England Official stated in the Times, “The UK Continue Reading…
Topic: Currency Exchange, Currency Rates, Euro, Pound, Rates, Smart Currency Exchange, Sterling, US Dollar, US economy, USD, bank of england, euro zone, exchange rates, uk economy
Posted August 24th, 2010 by Charles Purdy
EURO/GBP – 1.219US$/GBP – 1.538CHF/GBP – 1.604CAN$/GBP – 1.627AUS$/GBP – 1.736NZD/GBP – 2.189EURO/US$ – 1.261 Sterling hit a 2 month high against the euro yesterday reaching 1.2279/£1. This was short lived and this morning we have seen sterling lose ground against both the euro and the US$. Trading volumes in August are traditionally low which Continue Reading…
Topic: Currency Exchange, Currency Rates, Euro, Pound, Smart Currency Exchange, Sterling, US Dollar, US economy, USD, bank of england, euro zone, exchange rates, uk economy
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