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 businesses dropped for the 5th consecutive month in July and mortgage approval data showed the lowest number of new mortgages in over a year. Figures also showed that monetary supply – or the amount of money in the economy – dropped by 0.2% in August. All of this led investors and analysts to question the UK’s recovery further and saw renewed calls for an additional round of Quantitative Easing from the Bank of England to stimulate the economy. This saw sterling drop to 1.1887/£1 before recovering marginally to end the day above 1.19/£1. Against the US dollar, sterling slipped to a low of $1.5526/£1 despite holding firm above the $1.56/£1 level over the weekend. Out today, there is key public sector borrowing figures which are highly anticipated and will cause sterling movement. Make sure you don’t miss out by speaking to one of the team today.

In the Euro zone, there were no real data releases yesterday but there was positive news from Italy. The Italian trade deficit of 1.37bn showed a surplus of 1.75bn for last month. There were concerns last week over the debt crisis in Europe, as rumours spread that Ireland was seeking help from the International Monetary Fund (IMF). The Irish government quickly denied these rumours but the euro lost nearly a cent against the US dollar. Yesterday however, the euro recovered ground against the US dollar as markets grew concerned that the Federal Reserve would start a fresh round of emergency stimulus. Speak to one of the team today to prevent your payment costing more.

In the USA, the US dollar has been under further significant pressure yesterday ahead of today’s Federal Reserve interest rate decision. Concerns that a further round of emergency stimulus will be pumped into the economy saw gold reach a record high – testament to the level of uncertainty and concern that is prevalent in the marketplace. Aside from the interest rate decision, today sees new build housing data and building permits figures. All in all a lot in the pipeline, so make sure you have protected yourself by speaking to one of the traders ASAP.

Elsewhere, the Australian dollar continued to surge higher yesterday to hit a 2 year high against the US dollar after Glenn Stevens of the Reserve Bank of Australia stated that economic growth down under is likely to be “above trend” in 2011. This saw interest rate expectations surge with one gauge giving a 29% chance of an interest rate rise at the next meeting. The Japanese yen remained in a tight trading range after intervention from the Japanese government last week saw investors steer relatively clear of the currency.

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…

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…

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…

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…

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…

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…

EURO/GBP – 1.225US$/GBP – 1.558CHF/GBP – 1.610CAN$/GBP – 1.631AUS$/GBP – 1.743NZD/GBP – 2.202EURO/US$ – 1.270 Last week was a strong one for sterling against the euro and this trend has continued this morning as it is trading at 1.2260/£1. During this past week, the Bank of England minutes for the month of August showed that  Continue Reading…

EURO/GBP – 1.217US$/GBP – 1.552CHF/GBP – 1.604CAN$/GBP – 1.617AUS$/GBP – 1.746NZD/GBP – 2.205EURO/US$ – 1.275 Sterling recovered yesterday to jump more than a cent yesterday against the US dollar after far stronger than expected retail sales data boosted hopes that the UK economy can maintain positive momentum in the 3rd quarter. There was an expectation  Continue Reading…

EURO/GBP – 1.213US$/GBP – 1.552CHF/GBP – 1.617CAN$/GBP – 1.598AUS$/GBP – 1.729NZD/GBP – 2.178EURO/US$ – 1.279 Sterling recovered from 3 week lows against the US dollar after the Bank of England’s minutes from their most recent monetary policy meeting eased market speculation that the Bank would loosen monetary policy further. Sterling rose to hit a daily  Continue Reading…