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Posted February 27th, 2013 by Charles Purdy

The Italian elections continue to worry markets | Smart Daily Currency Note

GBP/EUR – 1.1532
GBP/USD – 1.5114
EUR/GBP – 0.8665
EUR/USD – 1.3082
GBP/AED – 5.5514
GBP/AUD – 1.4786
GBP/CAD – 1.5492
GBP/CHF – 1.4077
GBP/CNY – 9.47
GBP/HKD – 11.7152
GBP/HUF – 341.49
GBP/INR – 81.03
GBP/JPY – 138.50
GBP/NZD – 1.8304
GBP/RUB – 46.16
GBP/SEK – 9.7372
GBP/ZAR – 13.3356

Sterling

Sterling had a mixed day yesterday – starting off on the front foot reaching highs of 1.1650 against the euro and 1.5220 against the US dollar before losing ground later in the day. Sterling struggled after one of the Monetary Policy Committee (MPC) members from the Bank of England (BoE) suggested he was open to more monetary easing and furthermore, that the prospect of negative interest rates had been raised at central bank meetings. Furthermore, realised sales data from the Confederation of British Industry (CBI) came out lower than expected. Out today we have the second estimate of the UK’s fourth quarter GDP which is expected to show a contraction of 0.3%, the same as the first estimate. Moreover, more MPC members will be speaking today, and following yesterday’s volatility, the market will pay close attention to what they have to say. Call now for the latest updates on sterling.

Euro

It has been a turbulent few days for the euro, news of the inconclusive Italian election yesterday drove the euro to a seven week low against the dollar – whilst weakening by three cents against sterling. The damage was not as widespread as first feared however, as traders became confident that the European Central Bank (ECB) would intervene to limit the fallout, and the euro strengthened in the afternoon. Today is likely to be just as volatile with two important events. Firstly, we expect an Italian 10 Year Bond auction this morning – a key way for governments to borrow money and high yields mean high borrowing costs for the Italian Government. Secondly, in the afternoon the ECB President is speaking in Germany, we traditionally see a great deal of volatility during his speeches as markets look for hints as to future monetary policy. Get in touch now for the latest news and rates.

US Dollar

The US dollar generally performed well yesterday, strengthening against the majority of its currency partners with Consumer Confidence figures and New Home Sales data (rising in January to the highest since 2008) both coming out much better than expected. Along with this, the Federal Reserve Chairman backed the central bank’s current stimulus program, saying that they will support the asset purchases with “little risk of inflation or asset-price bubbles” causing the dollar to strengthen further. In the testimony he stated that “We do not see the potential costs of the increased risk-taking in some financial markets as outweighing the benefits of promoting a stronger economic recovery.” Although he also warned that the automatic federal budget cuts in line to begin 1st of March will add a “significant” burden to the economy if lawmakers are unable to avert from the reductions. Today we will see Core Durable Goods orders along with the second part of the Chairman of the Federal Bank’s “congressional testimony” on monetary policy.

Worldwide

Elsewhere, the Canadian dollar fell to a eight month low versus the US dollar following better than expected data out of the US and the comments from the Chairman of the Federal Bank. The commodity backed currencies struggled in general yesterday whilst the Japanese yen prospered due to risk aversion driving the markets and traders seeking safer havens for their money. The Russian rouble was one of the worst performers yesterday after GDP data released showed that the economy had contracted by 0.3%. Call in now for a market update and a live quote.

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Posted June 10th, 2010 by Charles Purdy


EURO/GBP – 1.210
US$/GBP – 1.459
CHF/GBP – 1.672
CAN$/GBP – 1.515
AUS$/GBP – 1.737

Sterling recovered yesterday when investors bought back into the pound after analysts stated that the pound had been oversold on Tuesday following comments by credit rating agency Fitch. In the end, the comments made by Fitch added nothing new to what the markets knew already. Concerns over the deficit and a potential credit rating agency have been around since the start of the year, and many investors have been calmed by the aggressive cost cutting measures that have already been announced by the new government. As a result, the pound hit $1.4578/ £1 and was helped along by a strong performance by stock markets as risk aversion eased slightly. The pound is likely to remain under pressure in the run up to the emergency budget on June 22nd as investors remain cautious. There is a lot of data out today, with the main UK news being the Bank of England’s interest rate decision. Whilst it is expected to remain on hold for the considerable future, there could be volatility if any comments are made regarding the £200bn asset purchasing facility. Call in now to ensure you take advantage of any movement.

In the Euro zone, there was little data out yesterday and the single currency took its lead from general sentiment and reaction to other currencies. With sterling having a strong day, the euro fell towards the 18 month low it hit last week, with the pound firmly back over the 1.21/£1 mark. Out later today, we have the European Central Bank press conference in which the bank will outline this month’s interest rate and monetary policy decision. The press conference can cause considerable volatility if any of the comments made are unexpected. In addition, there is some French unemployment data out this morning. Get in touch with a trader to make sure you are buying at the right time.

In the USA, the US dollar fell yesterday as risk appetite increased. There is a fair amount of data out today, with the trade balance expected to show a widening to $42bn. In addition, Treasury Secretary Geithner addresses the Senate on China later this afternoon. There could be some interesting discussion regarding the exchange rate ‘peg’ (i.e. fixed exchange rate) that is in place between the US dollar and Chinese yuan. The US dollar seems to be swinging back and forth at the moment on sentiment – call in now to ensure you catch it at the right time.

Elsewhere, New Zealand raised their interest rates by 0.25% to 2.75% for the first time since the credit crunch hit. A report by Credit Suisse shows that many expect another 0.25% rise at the next meeting in July. Rising interest rates mean a stronger currency – ensure you don’t miss out. The Australian dollar strengthened as data showed an unexpected jump in the number of jobs added to the economy last month. Call in to ensure that any payments you are making do not increase.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted May 21st, 2010 by Charles Purdy

EURO/GBP – 1.153
US$/GBP – 1.443
CHF/GBP – 1.660
CAN$/GBP – 1.534
AUS$/GBP – 1.741

Sterling recovered from yesterday’s 14 month low against the US dollar as investors unwound ‘short’ positions in the pound as fears over European regulation hit investor confidence. German chancellor Angela Merkel’s banned ‘naked short’ selling of national debt – i.e. selling an asset you don’t have, moving the market down and then buying back at a profit. This feels like a very desperate attempt to preserve the euro, and banning naked short selling is not necessarily the best option – a ban on short selling bank shares in 2008 did not prevent those shares tumbling. The UK has suffered since the election as many feel the aggressive spending cuts promised by the government will hurt growth. There are several pieces of data out today. Public sector net borrowing, business investment and mortgage approvals could all cause significant volatility as sentiment towards the UK suffers. The pound has now fallen 11% against the US dollar in the last year – the worst performer of all the major currencies. Call in now for a live price.

In the Euro zone, following the 750bn bailout agreed the other week, there is a key vote today in the German parliament today to ratify using German funds to help Greece. The bailout is deeply unpopular amongst German voters and it poses a dilemma for the German government. Germany was a key player in the creation of the euro and the collapse of the currency would cause the country to lose face as Europe’s big player. Out today, German GDP for the 1st Quarter was confirmed at 0.2% (no change on the estimate). This had very little effect on sentiment – get in touch now as there is a lot of panic in the markets.

In the USA, with a relatively light day on the economic calendar, the US dollar has been trading on sentiment surrounding the Greek crisis. With the short selling ban now in place, the US dollar has dropped as investors close out speculative positions. Yesterday, manufacturing data showed a slight decline which was a little disappointing given previous industrial production data. With the pound still hovering around the 13 month low, there is still scope for it to fall even further. Get in touch now to avoid missing out.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted May 19th, 2010 by Charles Purdy

EURO/GBP – 1.174
US$/GBP – 1.432
CHF/GBP – 1.644
CAN$/GBP – 1.493
AUS$/GBP – 1.673

So the UK parliament met for the first time yesterday following the general election. Some people were sitting next to people they probably thought they would never sit next to ever in Parliament [e.g. David Cameron and Nick Clegg]. But we are in a brand new world after 15 plus years of New Labour and as such everyone was full of smiles and high spirits. Sadly this didn’t flow through to sterling. Sterling had a strange start to the day as consumer price inflation came in at 3.7% which was way ahead of the target of 2% and ahead of market expectations. Initially sterling benefitted but then lost ground as the market realised that interest rates in the UK are not going to increase any time soon [which is normally the solution when inflation is ahead of target] due to our “difficult” economic conditions. Very difficult times for sterling so please call now so that you can properly manage your currency exposure.

Now to the euro zone and the euro. The German government decided to ban the short selling of euro zone government debt. Not sure how effective this is going to be given the ability of the markets to find a way round such bans. And the markets kept the pressure up on the euro, especially against the US$ where the euro hit 4 year lows. Against sterling the euro gave back in the afternoon the gains its had made in the morning. So we seem to be in a fairly narrow range between sterling and the euro and who knows which way the next significant move will be. That is why it is important to give us a ring sooner than later so as to make sure you are not in the wrong place at the wrong time with your currency requirements.

The US$ continues to be flavour of the month/year at the moment and is living up to market expectations increasing in strength against sterling and the euro [hitting 4 year highs against the euro]. Not really surprising given the problems in the UK and the euro zone, the US$’s safe haven status and the expectation that the US is leading the western world out of recession. So call now as it doesn’t seem like a good idea to hold off on buying your dollars.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted May 17th, 2010 by Charles Purdy

EURO/GBP – 1.173
US$/GBP – 1.441
CHF/GBP – 1.643
CAN$/GBP – 1.495
AUS$/GBP – 1.646

Sterling has hit a 13 month low against the US dollar in early trading this morning and also fell against the euro as house price data for the UK raised concerns over the health of the domestic economy. This is a particular worry as the new government is committed to cutting the deficit, therefore investors are concerned that the UK will experience poor growth as a result. A house price survey showed that UK prices in May rose less than they did in April pointing to a slow down in the housing market recovery. The reason for the fall was an increase in supply causing sellers to reduce their price expectations. The pound hit $1.4253/ £1 – the lowest since March 2009 – and also fell against the euro to hit a low of 1.1640/ £1. There is little other data out today and as a result, the pound is likely to continue to trade on sentiment. Call in now for an updated price as we could break through the $1.40/ £1 barrier soon.

In the Euro zone, the euro has hit a 4 year low against the US dollar of $1.2235/1 as sentiment towards the region continues to fall. Concerns that the debt crisis in Europe will undermine the global economic recovery saw Asian stocks fall by 3% overnight – the most since November 2009. This in turn drove risk aversion and saw demand for US dollar surge as a safe haven asset. There is little other data out today in Europe, so expect the sentiment based trading to continue. We could quite conceivable hit $1.15/1 in the next few weeks. Call in now to ensure you don’t lose out.

In the USA, with strong demand for the US dollar today following a poor session on Asian stock markets, expect the trend to continue today. US stock futures suggest that the US stock markets will be down by several points later today. This risk aversion is driving demand for the US currency. Following strong industrial data last week, the Empire manufacturing survey is expected to show similar strength. Later in the week we have the minutes from the Fed’s recent interest rate decision, which could point to when the US Federal Reserve is likely to raise interest rates next. Get in touch now, as we have seen the pound fall by 20 cents over the last year. Stop this from continuing to impact your payments by speaking to a trader today.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted May 14th, 2010 by Charles Purdy

EURO/GBP – 1.165
US$/GBP – 1.458
CHF/GBP – 1.634
CAN$/GBP – 1.493
AUS$/GBP – 1.629

Sterling fell yesterday against the US dollar and euro as the UK’s trade balance widened by more than expected. In March, the UK imported £6.3bn more than it exported and in April this gap increased by more than £1bn to £7.5bn. Exports remained steady and imports jumped, which disappointed the markets. Sterling is weak compared to most major currencies and the fact that this has not encouraged foreign investment into the UK is worrying, but also shows that global demand as a whole is weak. The ongoing saga in Greece could be blamed for a lack of demand for UK goods, but this is likely to continue as the Euro zone looks to curb spending and avoid debt default. Mervyn King hinted that the UK would benefit if Germany injected funds into the economy to encourage spending and ultimately boost UK exports. Elsewhere, the new government sent a clear message of its intentions to cut spending by cutting their own pay by 5% – frozen for 5 years. Whilst this saves roughly £3m (a drop in the ocean compared with the deficit) it is a clear message to the markets. So far, financial markets have welcomed the new coalition. Unfortunately, the pound is in a poor position. If the Greek crisis spreads further, we will effectively lose demand from a major marketplace for UK exporters. Out today we have no real data for the UK, but the currency traders will keep a close eye on David Cameron as he continues to forge ahead with plans for a ‘New Britain’. Call in now for a live exchange rate.

In the Euro zone, Portugal announced tough ‘austerity’ measures including tax hikes and pay cuts for public sector workers. The measures follow yesterday’s announcement by Spain of similar cuts which were met an angry response and threats of public sector strikes. The tough measures are the price that needs to be paid for the 750bn bail out that was announced over the weekend. There was little data out yesterday, but the euro rose against sterling as sentiment improved towards the Euro zone with European stock markets up nearly 8% this week having recovered losses. There is no data out today, so expect more of the same – trading on sentiment. Call in now to get a live rate.

In the USA, unemployment claims fell by 4,000 last month, but this fell short of the expected 8,000 drop. Import prices showed a mild improvement on the month. One analyst made the bold prediction that the USD would strengthen against the euro and reach or go beyond the 1999 entry rate of $1.18/ 1 as European countries are not following budget deficit rules laid down by the Maastricht treaty. The euro’s status as an alternative to the US dollar is in doubt as a result. Out today we have retail sales data for the US which is expected to show a decline month on month. Get in touch now, as many are predicting lower than $1.40/£1 in the coming months.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted May 13th, 2010 by Charles Purdy

EURO/GBP – 1.174
US$/GBP – 1.484
CHF/GBP – 1.645
CAN$/GBP – 1.502
AUS$/GBP – 1.648

After a strong start to the day following the formation of a new government, sterling fell against the US dollar and euro. The pound hit a low of $1.4821/ £1 after opening above $1.5040/ £1. Against the euro, sterling fell from a high of 1.1830/ £1 to finish the day around the 1.17/ £1 mark. The reversal in fortune was as a result of yesterdays Bank of England inflation report, which predicted that inflation is likely to undershoot the 2% target over the next 2 years with interest rates likely to remain at record lows of 0.5% as a result. The initial optimism that boosted the pound following the announcement of a new government faded following the report, as many traders realised that the UK has a hard road ahead of it to clear the deficit which is currently running at 11% of GDP. In addition, despite the unemployment claimant count falling by 27%, unemployment rose to the highest level since 1994. The optimism of the election is likely to fade further (as we saw in the USA following the election of Barack Obama) and as a result it would be worthwhile looking at making any payments now before the pound sinks any further. Out today we have trade balance data, which can occasionally cause large movements if it comes in better or worse than expected. Call in now for a live exchange rate.

In the Euro zone, industrial production rose by slightly more than expected and an initial estimate of 1st Quarter GDP came in at 0.2% against an expectation of 0.1%. This unexpected rise helped the euro strengthen against the pound. There is little data out today as France and Germany enjoy a bank holiday, but the markets are still nervous over the Greek situation and despite the 750bn bail out, there is still a high risk of a European country defaulting. Get in touch now, as despite the bleak outlook in the euro zone we could see the pound suffer in the next few weeks as the implications of the task ahead for the next government take effect.

In the USA, today saw a marginal widening of the trade balance, but this had little effect on the US dollar which continued to strengthen against the pound throughout the day. One analyst suggested that with the scale of spending cuts, tax rises and low interest rates in the UK, we could see sterling hit $1.40/ £1 over the summer. The main data out today is US unemployment claims which are expected to drop marginally which is encouraging. In addition, there is monthly retail sales data which is expected to show an improvement and Fed Chairman Ben Bernanke addresses the Senate. Get in touch now – especially if you need to buy US dollars over the next few months.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted May 12th, 2010 by Charles Purdy

EURO/GBP – 1.182
US$/GBP – 1.501
CHF/GBP – 1.666
CAN$/GBP – 1.527
AUS$/GBP – 1.676

Sterling rose yesterday as Gordon Brown tendered his resignation from office and David Cameron became our new Prime Minister, agreeing a coalition with the Liberal Democrats that sees them part of government for the first time in 70 years. After a volatile day, sterling recovered some of the losses against the US dollar that have seen the pound fall to a 13-month low as markets feared political uncertainty following the UK’s first hung parliament since 1974. There are concerns (as there always are with coalitions) that the deep rooted ideological differences between the two parties will lead to the dissolution of any agreement. However, with a rumoured 4 year ‘no-compete’ clause (i.e. an agreement from the Lib Dems that they will not vote against the Conservatives for 4 years) and the galvanising effect that tackling a record UK deficit will have, there is potential for this coalition to work. Although we shall have to wait and see, the initial reaction from the financial markets is good. The pound jumped to 1.18/ £1 and $1.49/ £1 on David Cameron’s appointment. What is next? The focus will now shift to the Conservative ‘emergency budget’ which is expected within 50 days and will outline the details of how the new government intend to deliver spending cuts of £6bn as a ‘down payment’ on the deficit within a year. Sterling was also boosted by unexpectedly strong manufacturing data. Out today we have unemployment data for the UK and the Bank of England’s inflation report. Call in now to take advantage of today’s jump in the value of sterling as it may not last long.

Following the bailout earlier in the week, the euro zone took a back seat yesterday as the UK election dominated the headlines. A piece of German inflation data showed a better than expected improvement. The big piece of data out today though is the first estimate of GDP for the 1st Quarter of 2010. This can have a large effect and is expected to show growth of 0.1%. Any higher than this and the euro is expected to react well. Get in touch now to take advantage of any movement.

In the USA, the major driving factor behind the US dollar movement against the pound was the UK election. As a degree of certainty returned, the pound strengthened against the US dollar. In other news, the investment bank Morgan Stanley is likely to come under investigation for securities fraud in a similar vein to Goldman Sachs did recently. This could cause uncertainty on Wall Street – get in touch now for a live exchange rate.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted May 11th, 2010 by Charles Purdy

EURO/GBP – 1.165
US$/GBP – 1.484
CHF/GBP – 1.646
CAN$/GBP – 1.518
AUS$/GBP – 1.649

Sterling gained against the US dollar throughout most of yesterday, hitting a high of $1.5054/ £1 as speculation over a deal between the Conservatives and Liberal Democrats helped calm market concerns over the political situation in the UK. Despite being up nearly 1.7% against the US dollar, the pound fell in late trading as news of Gordon Brown’s resignation opened the doors for a potential Labour-Lib Dem coalition and left the markets as concerned as they were at the start of the day. Against the euro, the pound was fairly volatile as traders digested the announcement of a 550bn package to help Greece avoid defaulting on its sovereign debt. The announcement initially caused the euro to strengthen, but the pound recovered ground later in the day as the Bank of England kept interest rates on hold and kept the emergency funding level at £200bn. Out later today we have manufacturing and industrial production data for the month. The key market moving data is the continued uncertainty over the election. Call in now for a live exchange rate.

In the Euro zone, the euro started the day well, recovering losses against the US dollar following the announcement of a new bailout deal. The bailout saw stock markets rally by several percentage points. However, in trading early this morning, the gains made by the euro have been lost again as the wave of optimism created by the 750bn injection has given way to concerns that the support will not avert a slowdown in the region as seen in Japan in the 90’s and in the USA in 2008-09. At this stage, the bailout has eased some of the concern of the last few weeks, but the Euro zone now has a tough few years ahead of it. Out today we have had German inflation data which has shown an unexpected rise. This has had little effect on the euro though. Get in touch now to ensure you plan your next payment efficiently.

In the USA, Deutsche Bank – the world’s biggest currency trader – said that the US dollar is likely to extend its 12% gain against the euro as Europe needs more than just emergency funding to help strengthen the single currency. Looking at purchasing power parity (the equivalent cost of two identical goods in two different currencies), the bank’s ‘fair value’ exchange rate prediction for the /$ is between the 1.15 – 1.20/ $1 marks. Following yesterday’s bailout the US stock markets surged by nearly 4%. Out today, we have some minor economic data which is unlikely to have any effect. Get in touch now for a price.

Elsewhere, Chinese inflation jumped 2.8% since last April and with inflationary measures building, the country’s economy is at risk of overheating. This builds the case for stronger interest rates in the country and a revaluation of the currency to allow it to strengthen. The Chinese yuan is ‘pegged’ (i.e. fixed) against the US dollar. Any revaluation of this could impact UK importers as prices of goods in the country will rise. Additionally, yesterday saw the Polish zloty’s biggest daily gain ever – gaining over 2% against the pound as the currency benefited from the European bailout. However, the currency has reversed some of these gains this morning. Get in touch now to ensure you don’t miss out.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

Posted May 10th, 2010 by Charles Purdy

EURO/GBP – 1.143
US$/GBP – 1.495
CHF/GBP – 1.638
CAN$/GBP – 1.529
AUS$/GBP – 1.649

After a turbulent week for the pound last week, and the most closely fought election for nearly forty years, we are still in store for a turbulent week on the foreign exchange markets. Sterling recovered marginally from Friday morning’s lows against the US dollar as David Cameron and Nick Clegg discussed the possibility of working together in a Liberal/ Conservative coalition. With discussions taking place over the weekend, the markets are awaiting clarity as to what the outcome will be. However, with both parties clear that a major priority is clearing the deficit, we should see sterling recover on the announcement of any power sharing deal. At the same time, if talks fail, we will see another fall in sentiment towards the pound. Despite political factors taking centre stage this week, there is a lot of fundamental data out too. Today we have the Bank of England’s interest rate decision (postponed from last week following the election). It is widely expected that the Bank will keep rates on hold at 0.5% and keep the emergency funding on hold at £200bn. Also, we have retail sales data for the UK. Call in now to avoid the market moving against you.

In the Euro zone, following panic last week over the risk of sovereign debt ‘contagion’, the big news this morning is the announcement of a 500bn comprehensive package to avoid the Greek crisis spreading. The package takes the form of loan guarantees and the European Central Bank pledged to conduct ‘interventions’ in public and private debt markets to ensure ‘depth and liquidity’. This is to all intents and purposes the same as the quantitative easing programme that the US, UK and Japan put in place in 2008. This announcement has seen the return of (some) confidence in the Euro zone and as a result, the euro has jumped back over 1.30/ $1 and has strengthened by 1.5% against sterling. Despite this, UBS and Barclays Capital investment banks both see the euro hitting a ‘fair value’ of 1.20/ $1 in the next few months. Get in touch now to make sure you are protected from these movements.

In the USA, the US dollar has dropped in early trading this morning following a return in broad appetite for risky assets. The US dollar is down nearly 1% since last week against the pound and is currently trading at $1.4925/ £1. The focus for the week in the USA is the numerous speakers from the Federal Reserve and some fundamental data out towards the end of the week. We have seen incredibly high volatility in the last 2 weeks – call in now to make sure you take advantage of the movements.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

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