Currency Matters For Overseas Property Buyers

2011-12-12T12:33:00.000Z

EURO/GBP - 1.1701
US$/GBP – 1.5558
CHF/GBP – 1.4439
CAN$/GBP - 1.5960
AUS$/GBP – 1.5362
ZAR/GBP – 12.7188
JPY/GBP – 121.05
HKD/GBP – 12.1171
NZD/GBP – 2.0245
SEK/GBP – 10.5645
AED/GBP - 5.724
US$/EURO - 1.3309

Sterling had a relatively strong week against the euro last week, but failed to push higher on Friday as analysts were left to digest the outcome of the EU summit. David Cameron’s veto of the treaty changes was referred to as “bad for Britain” by Deputy PM Nick Clegg yesterday and there could be signs of cracks beginning to form in the coalition, which could be negative for sterling. However, polls by major newspapers seem to show that the majority of the public are in favour of the veto. The PM speaks to the Commons later today on the veto and reasons behind it. Later this week we have inflation, unemployment and retail sales figures so call in now for a live exchange rate.

In the euro zone, leaders made decent progress towards a solution to the debt crisis at last week’s summit. The measures include a new treaty aimed at a ‘genuine fiscal stability union’ and the adoption of a new rule that the annual structural deficit may not exceed 0.5% of GDP. In addition, punitive measures kick in if this is deviated from. It is already widely known that the UK was the only member of the EU not to sign up to the new measures and it remains to be seen what the impact of this is likely to be. Later this week there is further discussion over amendments to the EFSF so call in now for a live exchange rate.

In the USA, the US dollar was very volatile last week with the market trading back and forth ahead of the EU summit. In the end, investors were somewhat disappointed at the lack of a comprehensive solution to the crisis and the US dollar ended the week marginally down. Market sentiment is set to remain subdued in the coming days as investors and analysts digest the details of the summit. Released this week we have retail sales and inflation figures so call in now to avoid losing out.

Elsewhere, with market movements and concerns over the EU summit, sterling has performed well against the commodity currencies including the New Zealand dollar. Sterling has held above $2.00/£1 for the past few days, but sentiment is fragile and it could easily drop back below 2. Call in 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

2010-10-08T09:26:00.001+01:00

This blog has now moved to http://blogs.smartcurrencyexchange.com/daily-currency-news , please update your links and RSS feeds accordingly.

Sorry for any inconvenience

Charles Purdy

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

2010-10-07T09:38:00.001+01:00

EURO/GBP - 1.136
US$/GBP – 1.589
CHF/GBP – 1.521
CAN$/GBP - 1.602
AUS$/GBP – 1.604
US$/EURO - 1.398

Sterling fell to a 4 ½ month low against a generally stronger euro yesterday as concerns over more monetary easing hurt sterling. However, as has been the case of late, gains from the single currency helped boost sterling against the US dollar and saw the pound hit a high of $1.5940/£1 – the highest since early August. The major concern for the UK is the Bank of England’s monetary policy committee meeting today. After mixed messages from several key decision makers, markets are expecting the worst – more Quantitative Easing. As a result, sterling has slumped to a low of 1.1360/£1 already this morning as investors sell the pound ahead of the news. House price data did not help either, showing that prices fell by 3.6% on the month. The decision is released at 12:00pm, so expect significant sterling/ euro volatility before and after – ensure you speak to a trader asap to avoid losing out.

In the Euro zone, the euro hit an 8 month high against the US dollar above $1.39/1 as the US dollar weakened further as speculation grew that the Federal Reserve will announce further monetary easing in the next few weeks. With the euro/ US dollar prices correlating with sterling/ US dollar, any move above $1.40/1 will see sterling break $1.60/ £1 on US dollar. Aside from that, German factory orders surprised to the upside yesterday after surging to 3.4% growth on the month before against expectations of 0.9% growth. Out today there is industrial production data, but the key moves are going to come from the Bank of England. Speak to one of the team now to time your purchase to the maximum.

In the USA, the US dollar continued to lose ground yesterday as it loses favour amongst global investors as many are now almost certain that the Federal Reserve will start pumping more money into the US economy in the next few weeks. The ADP Non-Farm payroll data showed that the economy shed 39,000 jobs in the last month which doesn’t help ahead of Friday’s ‘headline’ Non-Farm figures. There is unemployment data released today, so call in now for a live price.

Elsewhere, the Australian dollar hit a 27 year high against the US dollar as the Australian economy added 50,000 jobs in the last month. This revived talk of interest rate hikes after the central bank unexpectedly kept interest rates on hold earlier in the week. The Japanese yen is hovering around 15 year highs against the US dollar, which is the level at which the Japanese government started intervention on the 15th September.

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

2010-10-06T08:30:00.001+01:00

EURO/GBP - 1.149
US$/GBP – 1.593
CHF/GBP – 1.540
CAN$/GBP - 1.614
AUS$/GBP – 1.634
US$/EURO - 1.370

Sterling recovered to hit a 2 month high against the US dollar yesterday after stronger than expected UK services sector data and expectations over further monetary stimulus in the USA. Sterling hit a high of $1.5928/£1 on the day as growth in the services sector unexpectedly jumped off of August’s 16 month lows. Analysts were keen to point out that this was not the reversal of the UK’s woes, and as such, any return to favour from the US dollar will see sterling slip back down. Sterling was not so successful against the euro, as euro buying in Asia helped strengthen the single currency. Out tomorrow there is key data released on house price data which is expected to show a slight increase on last month. The data could prove vital ahead of Thursday’s Bank of England interest rate meeting so speak to one of the team now to protect yourself.

In the Euro zone, the last 2 days has seen strong demand for the euro from Asia. There seems to have been a shift from the use of the US dollar as a global reserve currency to the use of the euro. As concerns grow over the state of the US recovery, this seems to have caused the shift and as a result is supporting the euro. In terms of data, retail sales slipped unexpectedly last month to -0.4%, but the services PMI data came in better than expected. Out today, there is final GDP data for the quarter and German factory orders for the month. Speak to one of the team now to prevent yourself losing out.

In the USA, concerns still remain over the widely expected fresh monetary easing that is expected over the next few weeks. As a result, the US dollar fell to the lowest level against the euro in 8 months hitting a session high of $1.3851/1. Combined with the diversification of currency holdings by Asian banks, it was a poor day for the US dollar. US data showed that services sector activity improved slightly more than expected in September which helped slightly, but the overriding concerns over further Quantitative Easing prevailed. Out today, there is the first Non-Farm measure of the week. Speak to a trader now to ensure you take advantage of any large movements.

Elsewhere, the Australian central bank kept interest rates on hold despite being expected to raise them to 0.25% for the first time in 5 months. In addition, the Bank of Japan unexpectedly cut interest rates to help devalue the Japanese yen and manage the value of their exports which have become prohibitively high after the yen hit a 15 year high against the US dollar. Speak to one of the team now about the challenges ahead 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

2010-10-05T08:33:00.001+01:00

EURO/GBP - 1.153
US$/GBP – 1.580
CHF/GBP – 1.535
CAN$/GBP - 1.619
AUS$/GBP – 1.652
US$/EURO - 1.370

Sterling recovered against the euro on Monday as better than expected construction data helped investors feel more confident in the UK recovery. Construction PMI data showed that construction activity picked up in September, rising to 53.8 against an expectation of a fall to 51.6. Concerns over the ‘peripheral’ European countries also saw the euro suffer, but the atmosphere is still nervous ahead of Thursday’s Bank of England interest rate after last week’s comments by Adam Posen. The Bank of England policymaker made clear last week that a fresh round of Quantitative Easing should be used to pump more money into the economy and provide stimulus for growth. This contrasts with Andrew Sentance, who has been voting for a 0.25% rise in interest rates for the last 4 meetings. Either way, the meeting has the potential to cause significant movement, so call in and speak to a trader now to make sure you don’t lose out. Key house price and service sector data is released today also.

In the Euro zone, despite jumping in overnight trade after strong demand from Asia, the single currency slipped by 0.9% yesterday against sterling and US dollar. Concerns over the economies of Portugal, Ireland and Greece saw confidence slide. The Irish government yesterday said that the Irish economy will grind to a halt this year, and Greek budgetary forecasts show that the country expects a contraction of 2.6% next year followed by a 4% contraction in 2010. It seems that after a month of inexplicable euro strength, the markets seem to have recognised that there are still significant issues being faced. Out later today there is retail sales data, so call in and ensure you are buying at the right time.

In the USA, concerns still remain over the widely expected fresh monetary easing that is expected over the next few weeks. However, the balance of power shifted back towards the US dollar as the euro lost ground after the budgetary and growth announcements detailed above. There was some respite as data showed sales of previously owned homes rose to a 4 month high, but the effect was not long lived. The US dollar may have recovered some ground against the euro, but it slipped to a 2 ½ year low against the Swiss franc and again hovered near to a 15 year low against the Japanese yen. Speak to one of the team to make sure you take advantage.

Elsewhere, tomorrow sees the Australian interest rate decision which is widely expected to see the Australian central bank raise interest rates by 0.25% for the first time in 5 months. This would bring rates to 4.75%, and a Credit Suisse gauge of expectations has 52% of market participants pricing this in already. Demand from China for commodities has been driving the currency – call in now to ensure you do not miss out, as this could see the AUS dollar strengthen significantly against sterling.

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

2010-10-04T09:46:00.001+01:00

EURO/GBP - 1.151
US$/GBP – 1.578
CHF/GBP – 1.537
CAN$/GBP - 1.611
AUS$/GBP – 1.631
US$/EURO - 1.370

Sterling fell to a 4 month low on Friday against euro as worries over further Quantitative Easing and poor data saw investors sell the pound. Sterling fell below 1.15/£1 and dropped to a low of 1.1423/£1 in Asian trading overnight. Against the US dollar, sterling performed well as investors looked elsewhere over concerns that the Federal Reserve would pump more money into the economy over the next few weeks. Data on Friday showed that the UK manufacturing sector weakened more than expected in September, as export orders dropped fro the first time in a year. In a speech to the conservative party conference, Chancellor George Osborne has said that the UK has moved out of the financial “Danger Zone” and is set for a steady and sustainable recovery. Data out later is expected to show that UK construction activity declined for the 4th consecutive month and slumping to the lowest level since February. Call in now for a live exchange rate and to protect yourself from poor movements.

In the Euro zone, the euro had a strong week as concerns over the state of the UK and US recoveries helped boost demand for the currency. News that fewer banks had drawn down on available credit from the European Central Bank helped boost confidence. Market reaction seems fairly bizarre, as when news was announced that Spain’s credit rating had been downgraded and that the bill for the Irish banking bailout would probably top 29bn – the financial markets hardly batted an eyelid. There are some serious structural issues that need resolving but it seems that the markets feel it is a better bet than the US dollar or sterling at the moment. Speak to one of the team about protecting yourself.

In the USA, concerns over further Quantitative Easing and monetary stimulus are still hurting the US dollar – expect this to continue in the run up to the next meeting of the Federal Reserve on 2nd November. Pending home sales and factory order data are both expected to show lower rates of growth later today. Ensure you are covered over the next few months by discussing forward contracts.

Elsewhere, Australian inflation jumped to a 4 month high in September with the annual rate growing to 3.2%. This boosted expectations that the Australian central bank would look to start raising interest rates again at this week’s policy meeting. In addition, the Japanese yen tumbled on speculation that the Bank of Japan would start monetary easing to help weaken the currency and improve exports.

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

2010-10-01T09:12:00.002+01:00

EURO/GBP - 1.152
US$/GBP – 1.574
CHF/GBP – 1.540
CAN$/GBP - 1.622
AUS$/GBP – 1.626
US$/EURO - 1.366

Sterling fell to a 4 month low against the euro yesterday after large flows related to the annual EU farming subsidy saw investors covering short positions after a surprise jump in orders for euros into sterling. The EU subsidy saw a large amount of euros moved into sterling, which caused sterling to drop. Once that had happened, many started taking advantage of the strong euro prices to move more euros into sterling, which saw a lot of speculators (who had been betting on a swift rebound) scramble to reverse their positions and avoid losing money. All in all, the effect of this was that sterling dropped from an earlier high of 1.1675/£1 to a 4 month low of 1.1535/£1. Despite this, sterling had a strong day against the US dollar – hitting $1.5920/£1 as house prices edged higher and Adam Posen (who earlier in the week stated that there should be more Quantitative Easing) said that he had not yet decided which way he would vote at the next Bank of England meeting. This eased concerns, but consumer confidence weakened more than expected. There is further house price data out today and manufacturing data. Call in now for a live exchange rate.

In the Euro zone, it was a poor day but the euro reacted counter-intuitively against sterling. Firstly, credit rating agency Moody’s downgraded Spain’s credit rating the day after mass ‘austerity protests’ that brought much of the country to a halt. Secondly, the Irish Finance Minister Brian Lenihan outlined that the final bill for bailing out and recapitalising the country’s ailing banks could top 29bn which he described as “astonishing”. This saw the euro slip generally against the major currencies, but this was soon reversed after data showed that banks in the region had requested less emergency funding than was available to them, which helped boost sentiment. Out today, there is unemployment data so speak to one of the team and protect your profit margins.

In the USA, following the news that Euro zone banks were relying less and less on bank funds, the US dollar dropped to a 5 month low against the euro. US dollar losses were limited though, as data showed stronger than expected business activity, lower unemployment claims and a 0.1% upward revision in 2nd Quarter GDP data. There is key manufacturing activity data today. Call in now for a live price.

Elsewhere, Canada’s GDP contracted for the first time in over a year due to weakness in the manufacturing, construction and retail sales data. This left it highly unlikely that the Bank of Canada will look to continue its programme of interest rate hikes. Financial markets now expect interest rates to stay on hold for the remainder of the year. Have a fantastic weekend!

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

2010-09-30T09:36:00.002+01:00

EURO/GBP - 1.164
US$/GBP – 1.585
CHF/GBP – 1.550
CAN$/GBP - 1.636
AUS$/GBP – 1.637
US$/EURO - 1.361

Sterling fell again against the euro yesterday after Tuesday’s downbeat comments by a key Bank of England policy maker left sterling under severe pressure from investors. Sterling dropped to a 4 month low of 1.1590/£1 as markets became more and more concerned over the prospect of further Quantitative Easing. Sterling held steady against the US dollar. In a speech on Tuesday, Monetary Policy Committee member Adam Posen said that the central bank should start pumping more money into the economy in order to avoid a prolonged slump of the sort that Japan saw in the 1990’s. These comments certainly came as a surprise and saw sterling follow the US dollar down against the euro. Despite dropping a long way on Tuesday, poor UK data saw sterling drop further. The pace of service sector activity came in worse than expected and mortgage approvals stayed flat. In terms of data, there is key house price data which could see sterling drop even further if this dents the UK’s prospects. Call in now to speak to one of the team and prevent yourself from losing out further.

In the Euro zone, there was no real data out yesterday and the euro continued to trade on weak US and UK sentiment hitting a 4 month high against sterling and breaching the $1.36/1. A number of technical levels were breached which also pushed the euro higher. ‘Technical levels’ are points on the graph of a currency price which traders follow very closely. Any deviation upwards or downwards means that traders buy or sell based on where they feel the prices are going. In terms of data out today, there is German unemployment data and inflation data for the Euro zone. Expect the single currency to continue to strengthen on poor UK and US sentiment, so speak to a trader today to secure your exchange rate.

In the USA, the US dollar continued to suffer yesterday – especially against the euro - as concerns remained over further Quantitative Easing by the Federal Reserve. This is widely expected to be announced at the end of the Fed’s next meeting on November 2-3rd. There was no real data released yesterday, but last night there was an interesting Bill passing through the US Senate. The house is expected to enact a law that treats the artificially weak Chinese exchange rate as a subsidy and impose duties on goods imported from China to remove the artificially unfair advantage that the Chinese yuan currently enjoys in the global market. Given that most Chinese goods brought to the UK are paid for in US dollars, this could have far reaching consequences. Speak to one of the research team about what effect this is likely to have.

Elsewhere, a major hedge fund reported that the Japanese central bank is preparing a fresh round of monetary easing after a poor manufacturer’s survey and a stubbornly strong currency. Japan wants to boost exports by keeping the Japanese yen low, and given the struggling recovery and the fact the currency is near a 15 year high against the US dollar, this is understandable.

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

2010-09-29T09:09:00.001+01:00

EURO/GBP - 1.164
US$/GBP – 1.586
CHF/GBP – 1.544
CAN$/GBP - 1.628
AUS$/GBP – 1.631
US$/EURO - 1.362

Sterling fell by over 1% against the euro yesterday after downbeat comments by a key Bank of England policy maker left sterling floundering despite hitting a 7 week high of $1.5896/£1 against the US dollar. In a speech to the Hull Chamber of Commerce, Monetary Policy Committee member Adam Posen said that the central bank should start pumping more money into the economy in order to avoid a prolonged slump of the sort that Japan saw in the 1990’s. The markets were not expecting the negative comments and they contrasted sharply with his colleague Andrew Sentance who stated that the Bank didn’t need to restart the Quantitative Easing programme. Sterling hit a low of 1.1634/£1 and $1.5720/£1 following Posen’s comments despite strong data elsewhere. The UK’s trade deficit showed a stark improvement, jumping from -£9.6bn to -£7.4bn which shows that exports are improving. In addition, a survey by the CBI showed a marked increase in sales volume amongst retailers which was positive. However, this data was surpassed by the panic that the unexpected comments made. Today, we have lending data and consumer confidence figures. Speak to a trader now to stay abreast of the volatility.

In the Euro zone, it was a mixed day. Initially, the euro fell against the US dollar after speculation that Spain’s credit rating may be downgraded further by rating agency Moodys. However, weak US data and comments from European Central Bank Board member Juergen Stark helped boost the euro. Mr. Stark stated that the ECB may not renew some of the monetary support measures when they expire later in the year. In addition, there were reports that a former Chinese bank adviser had described the US dollar’s devaluation as “inevitable”. In terms of data, consumer climate data came in better than expected. There is no real data out today – although the euro is expected to give back ground to sterling as the annual EU farm subsidy is converted into sterling. Call in now for a live exchange rate.

In the USA, the US dollar suffered yesterday as concerns remained over further Quantitative Easing by the Federal Reserve. This is expected to be announced at the end of the Fed’s next meeting on November 2-3rd. Gold yet again hit a record high today, and US bond yields followed suit as investor confidence plummeted and investors looked for safer haven assets to invest in. Consumer confidence fell in September after poor business conditions and weak employment figures. This, combined with the fact that house prices fell to within touching distance of multi-year lows in July saw the US dollar drop further. Get in touch now to ensure you take advantage of this volatility.

Elsewhere, the Japanese yen has strengthened back up to pre-intervention levels against the US dollar. This sparked concerns that the Japanese government will step in to the currency markets in order to maintain an artificially weak currency and protect their export market.

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

2010-09-28T08:33:00.001+01:00

EURO/GBP - 1.178
US$/GBP – 1.578
CHF/GBP – 1.554
CAN$/GBP - 1.633
AUS$/GBP – 1.650
US$/EURO - 1.339

Sterling rose against the US dollar to hit a 7 week high of $1.5867/£1 as the US currency struggled to shake off concerns that the Federal Reserve would ease monetary policy further to stimulate the flagging recovery. The movement is clearly more down to US dollar weakness than sterling strength, as sterling’s continued weakness against the euro shows. Sterling continued to languish around the 1.1750 mark against the single currency, as the pound continued to track the euro’s recent strength against the US dollar. UK data didn’t help either, with a survey from property market researcher Hometrack showing that UK house price growth has fallen by 0.4% in September – the lowest rise for 18 months. However, the impact of this was limited, as a flagging housing market has already been priced in to sterling’s value. In terms of data today, the main release is the trade balance figures. Investors are desperate for exports to increase and start driving a ‘rebalancing’ of the economy from debt led growth to export led growth, and this figure will give a good idea of the situation. Additionally, the final GDP figure for the 2nd Quarter is released. This should remain unchanged at 1.2%. Call in now to ensure any unforeseen surprises don’t end up costing you more than they should do.

In the Euro zone, the euro continues to benefit from concerns in the USA. Against the US dollar, the euro is holding strong at $1.3480/1 as market participants back the single currency with the prospects of further Quantitative Easing in the USA. Monetary supply in the Euro region came in higher than expected showing a 1.1% increase against an expectation of 0.4%. More money flowing round the economy means better growth prospects, so this data helped the euro. It is quite incredible that sentiment towards Europe is as good as it seems given the serious structural issues that remain with debt in most of the region. There is a fair amount of data released today, with consumer spending, preliminary German inflation data and German consumer confidence data. Call in now to speak to one of the team about managing your risk in the run up to Christmas.

In the USA, gold hit an all time high of $1,300 per ounce and demand for US treasury bonds shot up. Further US bond auctions later this week are expected to see similarly high demand. The jump in demand for these ‘safe haven’ assets is as a direct result of the market expectation of further easing of US monetary policy by the US Federal Reserve. There was no real US data released yesterday, and today sees US consumer confidence which is expected to drop off marginally on last month. Call in now for a live price.

Elsewhere, the concerns over further US Quantitative Easing saw crude oil and commodity prices drop with Oil dropping below $77/barrel. Concerns over the global recovery left investors and analysts querying future demand for energy. As a result, commodity and resource based currencies – notably the Canadian dollar – fell yesterday as the currency tracked falls in the Canadian stock market. Get in touch now to ensure you don’t miss out due to adverse volatility

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

2010-09-27T10:03:00.001+01:00

EURO/GBP - 1.174
US$/GBP – 1.580
CHF/GBP – 1.559
CAN$/GBP - 1.620
AUS$/GBP – 1.648
US$/EURO - 1.345

Sterling rose against the US dollar towards the end of last week and in early trading so far today. Sterling reached a high of $1.5842/£1 – a 6 week high – after poor US housing data added to an already weaker US dollar. Strong business sentiment in Germany helped the euro jump against sterling after the figures came in far better than expected. So far today, UK house prices have fallen by 0.4% in September according to a survey by property market researcher Hometrack. This is the 3rd consecutive decline in prices and the largest drop in 18 months. Analysts cited continued uncertainty regarding the economic outlook and concerns over the impact of the coming spending cuts and tax hikes. The rate of decline in house prices is likely to fall as new supply coming onto the market moderates and demand falls. For the rest of the week, keep an eye out for GDP data and consumer confidence figures. Call in and speak to one of the team to ensure you are protected.

In the Euro zone, the euro had a strong end to the week, strengthening to 1.1750/£1 as German consumer business confidence data came in far better than expected. There were some worries last week over the Irish economy. 2nd Quarter GDP for Ireland showed a 1.2% decline against an expectation for 0.5% growth which highlighted the struggle being faced by the country and other ‘peripheral’ European economies. Out today there is money supply data for the Euro zone, which is expected to show a rise of 0.4% in the year to August. Whilst this is positive, it is clouded by the lack of lending to ‘non-financial’ entities – i.e. everyone aside from the banks. This is a key issue globally in that banks have cheap credit available from governments and they have not been passing that on to consumers. Call in now to ensure that you protect yourself against adverse market movements.

In the USA, data was mixed last week with unemployment claims unexpectedly jumping from 453,000 to 465,000. However, later on data was released that showed existing home sales had increased from 3.8m to 4.1m. New home sales data on Friday was poor which saw the US dollar finish the week poorly – especially with the prospect of further Quantitative Easing looming. Out this week, there is 3rd quarter GDP released on Wednesday which could see some significant volatility in the build up to the announcement.

Elsewhere, Japan’s trade balance surplus shrunk to Y103.2bn as export growth fell for the 6th consecutive month. Exports to the USA and China increased the least since November 2009. The outcome hints that Japan’s export led recovery is stalling and that the Japanese government will need to step in yet again to artificially manage the value of the currency in order to promote exports and keep Japanese goods competitively priced. Speak to a trader today to ensure you have covered your next few payments.

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

2010-09-24T09:04:00.002+01:00

EURO/GBP - 1.175
US$/GBP – 1.566
CHF/GBP – 1.538
CAN$/GBP - 1.617
AUS$/GBP – 1.646
US$/EURO - 1.333

Sterling rose against the euro yesterday as Euro zone data came in worse than expected and cast doubts over the validity of the region’s recovery. European Purchasing Manager’s data (which shows how much companies are buying) came in far worse than expected causing concerns that the business outlook for the region is looking poor. Sterling rose to 1.1799/£1 on the news and left Wednesday’s 4 month low behind. However, according to Spencer Dale (chief economist at the Bank of England), the UK faces “substantial headwinds” attributable to government spending cuts and tight lending conditions. This leaves a distinct possibility that the Bank of England will inject further money into the economy to stimulate growth. One question needs to be asked though – is the bank’s negative rhetoric a ploy to keep sterling weak and drive exports and a rebalancing of the UK economy? We shall have to wait and see… There is no data out today, so speak to a trader today to avoid missing out on sentiment based trading.

In the Euro zone, the euro had a poor day yesterday falling 0.6% against sterling and 0.5% against the US dollar after worries surfaced over the Irish economy. 2nd Quarter GDP for Ireland showed a 1.2% decline against an expectation for 0.5% growth which highlighted the struggle being faced by the country and other ‘peripheral’ European economies. Wednesday saw the Irish government deny that neither the country itself nor any of the banks within it would default on their debt. Bond markets reacted poorly to the news with the spreads on Irish bonds rose to a record high – a clear sign that investors are avoiding the country’s debt. Out tomorrow there is German business climate data so call in to ensure that you protect yourself against adverse market movements.

In the USA, data was mixed yesterday. Initially, the US dollar fell against the Japanese yen as the number of unemployment claims unexpectedly jumped from 453,000 to 465,000. However, later on data was released that showed existing home sales had increased from 3.8m to 4.1m. The US dollar recovered a lot of the ground lost against the euro in the last few days, but with the prospect of further Quantitative Easing looming it is hard to see the US dollar going much further at the moment. Out today, there is new home sales data – speak to a trader now to minimise your losses.

Elsewhere, the New Zealand dollar fell against its major counterparts after 2nd Quarter GDP growth figures disappointed. The data showed figures of 0.2% against an expectation of 0.7% growth. It marks a sharp drop in the currency and demonstrates the volatility that is prevalent in the commodity backed currencies. Call in now to discuss hedging strategies.

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

2010-09-23T08:42:00.001+01:00

EURO/GBP - 1.168
US$/GBP – 1.566
CHF/GBP – 1.546
CAN$/GBP - 1.614
AUS$/GBP – 1.637
US$/EURO - 1.339

Sterling fell to a 4 month low against the euro yesterday of 1.1662/£1 and a 2 month low against a basket of major currencies after the minutes of the Bank of England’s recent interest rate meeting showed that the Monetary Policy Committee were more willing to consider a fresh round of Quantitative Easing. Members voted 8-1 to hold rates with Andrew Sentance yet again standing alone in his call for an interest rate hike of 0.25%. The general consensus was that there were risks on both sides and stood ready to respond in either direction, with many feeling that it was more likely that they would need to inject further stimulus in the coming months. There was one upside today for sterling. The pound jumped against US dollar early this morning and broke the $1.57/ £1 barrier but this was more a function of a relatively weaker US dollar than sterling strength. Out today we have mortgage approval data which is expected to show a decline. Speak to a member of the team to protect yourself in case sterling drops even further.

In the Euro zone, the euro benefited from the prospect of further monetary stimulus in both the UK and the USA after the Federal Reserve left the door open to pump money into the economy if required. The euro saw a boost earlier in the week when Irish and Greek bond auctions saw higher demand than expected. With investors concerned over the UK and the US recoveries, the euro surged to a 5 month high of $1.3437/1 and a 4 month high against sterling of 1.1662/£1. Out later today there is a raft of Purchasing Manager Index data for France, Germany and Europe as a whole. Ensure you are taking advantage of this volatility – especially if you need to move euros into sterling. Speak to a trader today about fixing your budget into the next year.

In the USA, the financial markets were digesting the impact of the Federal Reserve’s interest rate decision that was released on Tuesday evening. There was a slight change in the language used, which effectively ramped up the level of readiness for an increase in the ‘accommodation’ level that the Fed provides. Effectively, this prepared the markets for more quantitative easing without actually altering monetary policy. In terms of data, there is weekly unemployment claims and existing home sales data. Speak to a member of the team to protect yourself against adverse market movements.

Elsewhere, New Zealand’s current account balance deficit widened to 3% of GDP in the 2nd quarter, marking the first drop in cross-border commerce’s contribution to economic growth since December 2008. This saw the NZ dollar drop off marginally against major counterparts as a result as investors looked elsewhere with concerns that the recovery there was stalling. Get in touch to prevent the markets from disrupting your payment.

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

2010-09-22T08:37:00.001+01:00

EURO/GBP - 1.177
US$/GBP – 1.569
CHF/GBP – 1.561
CAN$/GBP - 1.603
AUS$/GBP – 1.639
US$/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 European sovereign debt. Ireland sold 100% of the 1.5bn worth of bonds on offer and Greece managed to sell 390m worth of bonds – 72% of what was on offer. This saw sterling hit a low of 1.1810/£1 as the single currency surged on the strong sentiment that was generated by the bond auction. Sterling wasn’t helped after data was released showing that UK public sector borrowing hit a record high for August as interest payouts on UK government bonds shot up as a result of stubbornly high inflation. The data showed that the UK public sector spent £15.3bn more last month than it took in. In terms of today, there is yet more risk that sterling will drop in the form of the minutes of the Bank of England’s recent interest rate meeting. With concerns that the Bank are considering further Quantitative Easing, investors are keen to cast an eye over the discussions and thoughts of the decision makers. Speak to a trader now to protect yourself against further movements.

In the Euro zone, 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). These were quickly allayed yesterday as the bond markets gave the emerald isle a vote of confidence by snapping up the bonds that were on offer. Greece also surprised many, and despite only selling 72% of the bonds that were on offer, this was seen as a huge step towards recovering some confidence in the financial markets. Out later today there is some business sentiment data for Belgium which is unlikely to cause too much of a stir. Speak to a trader now as the euro is likely to remain volatile – especially vs. sterling and the US dollar.

In the USA, despite the US dollar coming under significant pressure on Monday ahead of yesterday’s Federal Reserve interest rate decision, the announcement turned out to be a bit of a damp squib. There had been concerns that a further round of emergency stimulus would be pumped into the economy, but the Federal Reserve issued an almost identical statement to last month stating that “additional accommodation would be given [to the economy] if required” i.e. they would pump further money to stimulate as and when it was required. Early reaction following the announcement saw risk appetite improve and sterling strengthen by a cent on the day to just over $1.56/£1. Call in now and speak to one of the team about how best to take advantage of economic events such as interest rate announcements.

Elsewhere, Canadian inflation was milder than expected in August as energy price rises slowed and the Canadian recovery lost steam. This gives the Bank of Canada much more reason to pause its current interest rate hiking scheme and is likely to see the Canadian dollar pull back. The currency – known as the Looney – has recently come very close to parity (1:1) against the US dollar. Poor inflation data is not going to push it beyond that barrier anytime soon.

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

2010-09-21T09:10:00.001+01:00

EURO/GBP - 1.186
US$/GBP – 1.551
CHF/GBP – 1.558
CAN$/GBP - 1.596
AUS$/GBP – 1.639
US$/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.

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

2010-09-20T09:49:00.001+01:00

EURO/GBP - 1.193
US$/GBP – 1.564
CHF/GBP – 1.571
CAN$/GBP - 1.612
AUS$/GBP – 1.652
NZD/GBP – 2.140
EURO/US$ - 1.310

Sterling slipped against the US dollar on Friday, coming off an earlier 5 week high of $1.5730/£1 but holding firm above the $1.56/£1 level. A lack of UK data on Friday left sterling at the mercy of movements in other currencies and as concerns over Euro zone sovereign debt resurfaced, riskier currencies came under renewed pressure. In the last few weeks, huge swings between positive and negative sentiment mean that sterling is generally tracking the movements between euro and US dollar. It is a relatively quiet day on the economic calendar with the key data being the August mortgage approvals figure. The figure is expected to come in at just under 50,000 – historically a figure that does not correlate with a sustained house price boom. A lot of data points to further slowing in the sector. Later in the week, there is public sector lending figures and the Bank of England Monetary Policy Committee’s minutes from their recent meeting. Ensure you are protected over the coming weeks by speaking to a trader today.

In the Euro zone, Friday saw a fresh round of concerns 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 despite being the best performing currency for the week. This shows how sensitive traders are to any sign of problems with debt in the region. There are no real data releases today with the key releases of the week being a business sentiment survey and advanced wholesale price inflation later in the week.

In the USA, the US dollar has been under significant pressure over the weekend and in Asian trading today ahead of a busy week of data. The key area of concern for many is Tuesday’s Federal Reserve meeting in which many are expecting the Fed to start printing money again after stubbornly high unemployment figures and a run of poor data. The idea was raised at last month’s policy meeting and could be implemented this week. Housing data is the only real data released today, so call in ahead of tomorrow’s meeting to ensure you are covered.

Elsewhere, the Australian dollar surged higher 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.

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

2010-09-17T09:52:00.000+01:00

EURO/GBP - 1.194
US$/GBP - 1.570
CHF/GBP - 1.597
CAN$/GBP - 1.606
AUS$/GBP - 1.659
ZAR/GBP - 11.192
JPY/GBP - 134.83
HKD/GBP - 12.192
NZD/GBP – 2.143
US$/EURO - 1.314

Sterling fell to a 7 week low against the euro yesterday as retail sales unexpectedly fell for August and high demand for Spanish debt strengthened the single currency. Sterling slipped to €1.1904/£1 as retail sales fell by 0.5% against an expected gain of 0.3%. Many analysts took the data as a sign that consumers are reigning in spending ahead of spending cuts/ tax hikes expected later in the year. Sterling stayed relatively flat against the US dollar after a strong performance earlier in the week. A survey showed that British factory orders dropped a little more than expected against last month and export figures fell slightly. The UK needs to rebalance from an economy driven by debt to an economy driven by exports and with a weak currency this should happen automatically. Poor export figures are therefore a concern. There is no real data out today, so call in and speak to a trader – especially if you need to move euros into sterling.

In the Euro zone, the single currency had a strong day yesterday. Data showed that the trade deficit fell by more than expected. Analysts expected the deficit to shrink to €-0.7bn but in fact it came in at just €-0.2bn. In addition, the Spanish government auctioned a number of bonds today and demand was far higher than expected. With the current concerns over European debt that are prevalent, the high demand surprised analysts and investors and drove sentiment higher for the euro. This resulted in it hitting a 7 week high against the pound. It is again a relatively light day on the economic calendar today, with German inflation data the only real data released. Call in now to ensure you are protected as currency markets are incredibly volatile.

The USA had a poor day after data showed the US recovery was weakening. Risk aversion crept back in and saw high demand for US government bonds as investors looked for safer assets to hold. Data showed that business conditions contracted in the US in August and weekly claims for unemployment benefits remained high. This pushed the euro to the highest level in a month against the US dollar reaching a rate of $1.3112/€1. Call in to speak to one of the trading team about protecting yourself against adverse market movements.

Elsewhere, after heavy yen selling by the Japanese government on Thursday the markets settled down somewhat. However, investors were hesitant to go near the currency in case further intervention adversely impacted them. Prime Minister Naoto Kan pointed to more intervention over the coming weeks, so watch this space. Have a great weekend.

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

2010-09-16T09:26:00.001+01:00

EURO/GBP - 1.199
US$/GBP - 1.559
CHF/GBP - 1.562
CAN$/GBP - 1.601
AUS$/GBP - 1.666
ZAR/GBP - 11.079
JPY/GBP - 133.21
HKD/GBP - 12.115
NZD/GBP – 2.147
US$/EURO - 1.300

Sterling performed well against the US dollar yesterday as traders bought the pound following an increase in employment. Early data showed an unexpected rise in the number of people claiming unemployment benefits which saw the pund drop to its lowest level against the euro since early July. However, when figures showed that the number of people in work rose by a record 286,000 to July, investors shook off earlier concerns which saw sterling rise to a daily high of $1.5650/£1 against the US dollar. In an address to the Trades Union Congress, Bank of England Governor Mervyn King said that the Bank “stood ready to act” if the economy needed further stimulus, but gave no clues as to whether they were preparing a fresh round of Quantitative Easing – leaving traders to wait until the Bank of England minutes are released next week. In terms of data, today sees monthly retail sales data and consumer inflation expectations. Speak to one of the team today to take advantage of higher US dollar prices.

In the Euro zone, yearly and core inflation data for the Euro zone was released yesterday. The yearly figures came in as expected at 1.6% and the core price inflation moved marginally higher to 1.0%. Aside from this, Europe had a quiet day as other news dominated trading headlines. Out today is trade balance data for the region. Call in now and speak to a trader and ensure you don’t miss out.

In the USA, the US dollar had a turbulent day – especially against Japanese yen. Yesterday saw the Japanese yen rise to a 15 year high against the US dollar of JPY 83/ $1 after PM Naoto Kan’s victory in the leadership election. With much of Japan concerned over the impact that an incredibly strong yen will have on their export led economy, victory by Prime Minister Naoto Kan in Monday’s leadership election had a huge effect. The PM beat rivals who had been arguing for moves to weaken the currency and as a result of his victory; many thought there would be no intervention. However, overnight Japan started selling large amounts of yen in order to weaken the currency and protect exports. The US dollar rose by 3.3% against yen after Japan bought a reported $17.7bn. 2004 was the last time Japan intervened in the open markets. Call to speak about how using Order to Buys can take advantage of such volatility.

Elsewhere, the Swiss franc hit parity (1 to 1) against the US dollar. Canadian manufacturing data unexpectedly dropped by 0.9% against an expected gain of 1%. This saw the Canadian dollar drop off against the US dollar. The Canadian dollar had been approaching parity, but this weaker than expected data saw it pull back. Get in touch to ensure you are not buying at the wrong time.

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

2010-09-15T09:40:00.000+01:00

EURO/GBP - 1.192
US$/GBP - 1.546
CHF/GBP - 1.550
CAN$/GBP - 1.593
AUS$/GBP - 1.650
ZAR/GBP - 10.969
JPY/GBP - 131.70
HKD/GBP - 12.013
NZD/GBP – 2.110
US$/EURO - 1.297

Sterling performed well against the US dollar yesterday as UK inflation beat expectations and helped eased concerns that the Bank of England would increase their programme of Quantitative Easing. By close of play yesterday, sterling had hit a daily high of $1.5585/£1 against the US dollar as the stubborn inflation data saw investors back sterling as speculation grew that the US Federal Reserve would look to stimulate the US economy. Yearly inflation moved back up above 3.0%, coming in at 3.1% despite expectations that price growth would tail off as the austerity packages take effect. The Bank of England seems rather obsessed with the inflation figures and seems to be using the data as an excuse not to implement measures to help stimulate the economy. This was alluded to by many analysts as poor house price data demonstrated that the economy is still in trouble. A survey by the Royal Institute of Chartered Surveyors showed the biggest one month fall in house prices since June. Out later today there is unemployment data and Bank of England governor Mervyn King speaks to the Trades Union Congress in Manchester. Speak to a trader today to make sure you get the best price on your foreign exchange.

In the Euro zone, it was a mixed day for data with ZEW economic sentiment, industrial production and French inflation data all underperforming expectations. The key figure of economic sentiment came in at -4.7 against an expectation of 10.7 as a result of concerns over the European banking sector in the past few weeks. Despite this, the euro strengthened to a one month high against the US dollar gaining over 1% to hit $1.3031/€1 after breaking through a key technical level on the exchange rate graphs. In terms of data, there is yearly and core inflation data for the Euro zone released today. Speak to one of the team now to ensure you don’t miss out.

In the USA, retail sales data showed the biggest growth in the last 5 months with figures coming in as expected at 0.4% growth and core sales up 0.6% on the month. This saw higher yielding ‘riskier’ currencies benefit including the Australian dollar which jumped to a 10 month high against its US counterpart. In terms of data, today sees a range of industrial data so call in now and speak to one of the team to protect yourself against poor exchange rates.

Elsewhere, the Japanese yen strengthened to a 15 year high against the US dollar of JPY 83/ $1 – with the all time high of JPY 79.75/ $1 not far off on the horizon. With much of Japan concerned over the impact that an incredibly strong yen will have on their export led economy, victory by Prime Minister Naoto Kan in yesterday’s leadership election had a huge effect. The PM beat rivals who had been arguing for moves to weaken the currency and as a result of his victory; this is unlikely to happen and attracted buyers. Speak to a trader now about the global impacts of Japanese currency 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

2010-09-14T10:30:00.001+01:00

EURO/GBP - 1.198
US$/GBP - 1.540
CHF/GBP - 1.545
CAN$/GBP - 1.585
AUS$/GBP - 1.651
ZAR/GBP - 11.017
JPY/GBP - 128.27
HKD/GBP - 11.965
NZD/GBP – 2.118
US$/EURO - 1.285

Sterling performed well against the US dollar yesterday as positive Chinese data and new banking rules helped boost risk appetite amongst global investors. Sterling gained 0.5% against a generally weaker US dollar to hit $1.5488 as sentiment towards the pound was positive throughout the day’s trading. There was very little data out but the impetus came from Strong Chinese data that showed Chinese factory data was strong – despite efforts by the Chinese government to curb the buoyant economy and avoid an asset bubble. As a result, investors felt happier taking risks and moved funds out of US dollars and into ‘riskier’ currencies. In terms of data, there is inflation data released later this morning which will be very closely watched as many analysts fear a ‘double dip’ recession is looming in the UK. Any sign of this in the inflation figures and we will likely see sterling suffer. Call in now to ensure you don’t lose out.

In the Euro zone, the single currency held firm against sterling throughout the day with risk appetite seeing more demand for the euro than sterling. In Europe, risk appetite was helped by the announcement of the new Basel rules on capital adequacy. Known as ‘Basel III’, the rules force banks to almost treble the amount of capital they must hold on reserve in order to avoid a repeat of the financial crisis. This clarification has helped investors feel more confident about the recovery and saw European bank shares soar throughout much of the day, bringing European stock exchanges with them. Data wise, there is industrial data released tomorrow that is expected to show a mild improvement so call in now to take advantage of sentiment driven prices.

In the USA, the US dollar headed for its biggest fall against the euro since early July 15th as global risk appetite boosted high yield ‘riskier’ currencies. In addition, the new banking rules saw the single recovery receive an added boost and the US dollar slipped above $1.28/€1 for the first time since July. In terms of data, there is key monthly retail sales data that is expected to show a slight improvement. If it doesn’t, expect the US dollar to strengthen as investors look to move back into safer haven currencies. Call in now and speak to a trader to make sure you are protected.

Elsewhere, the Canadian dollar continues to hold its ground against other major currencies after last week’s interest rate hike and a strong employment report last week. Many traders expect a further hike in interest rates in October which is in clear contrast to other central banks around the world which are holding rates or potentially looking at injecting further money into the economy. Canada’s booming economy (similar to Australia) is as a result of strong demand for commodities – especially from China. Speak to a trader today 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

2010-09-13T10:21:00.001+01:00

EURO/GBP - 1.207
US$/GBP - 1.547
CHF/GBP - 1.570
CAN$/GBP - 1.596
AUS$/GBP - 1.658
NZD/GBP – 2.112
US$/EURO - 1.272

Sterling fell on Friday against the US dollar and euro after uncertainty regarding the UK economy lead market analysts to recommend selling sterling. Thursday saw the UK post a record trade deficit and then Friday’s wholesale price inflation came in far weaker than expected which left many feeling that the Bank of England would not raise interest rates until well into 2011. Spending cuts were back in the spotlight as £4bn worth of welfare cuts were announced on top of the existing plans to cut the bill by £11bn. With October’s spending review on the horizon, traders expect it to be a close fought race between sterling and euro as fresh concerns circulated last week over the European banking sector. Many expect sterling to end up the weaker of the two after a real autumn chill seems to have taken a grip of the data coming from the UK. There is no real data released today, with all eyes on inflation figures tomorrow. Speak to a trader now to ensure you are protected.

Generally speaking, economic data coming from the Euro zone has been encouraging. Business sentiment for example has been boosted by strong demand from Asia for European exports. However, despite many analysts expecting this trend to continue, last week saw relatively disappointing figures. German factory orders showed a 2.2% month on month decline and industrial production only showed a 0.1% gain. This will be reflected in regional industrial data released tomorrow. Similarly, there is no data released today so call in now to take advantage of sentiment driven prices.

In the USA, the US dollar fell in overnight trade as Chinese factory data was strong – despite efforts by the Chinese government to curb the buoyant economy and avoid an asset bubble. As a result, investors felt happier taking risks and moved funds out of US dollars and into ‘riskier’ currencies. In addition, risk appetite was boosted by the announcement of the new Basel rules on capital adequacy. Known as ‘Basel III’, the rules force banks to almost treble the amount of capital they must hold on reserve in order to avoid a repeat of the financial crisis. This clarification has helped investors feel more confident about the recovery. It is a quiet day in the USA too, with retail sales data released tomorrow that is likely to have a large effect.

Elsewhere, the Japanese yen has fallen this morning following the surge in risk appetite. Demand for the traditionally safe haven currency tends to fall in a similar fashion to the US dollar as and when investors feel happy buying into riskier currency. Speak to a trader 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

2010-09-10T10:24:00.001+01:00

EURO/GBP - 1.213
US$/GBP - 1.544
CHF/GBP - 1.580
CAN$/GBP - 1.593
AUS$/GBP - 1.672
NZD/GBP – 2.128
EURO/US$ - 1.272

Sterling fell against the US dollar yesterday after the UK reported a record goods trade deficit and on speculation that the Bank of England would further stimulate the economy with additional Quantitative Easing. Sterling dipped as figures showed that the UK’s trade deficit unexpectedly jumped to a record £8.667bn. Whilst this entails imports outpacing exports – suggesting increased domestic demand – analysts are sceptical that this will help boost UK growth as the pending spending cuts take full effect over the next few years. The Bank of England held their interest rate meeting yesterday and kept interest rates on hold at 0.5% as expected, but many commentators expect further money to be pumped into the economy at a later stage as the ‘fiscal austerity’ measures cut growth and output. The main UK data out today is wholesale price inflation, which is expected to show a 0.2% rise. Get in touch now for a live exchange rate and to ensure you are protected.

In the Euro zone, the single currency rose by 0.4% on the day against sterling as investors bought in following poor sentiment towards the UK. There was also speculation that several European banks had orders in place to buy significant amounts of euros which added a boost. In terms of data, French non-farm payroll data came in slightly under the 0.2% that was expected, showing 0.1%. German inflation data also came in as expected at 0.0%. There is French and Italian industrial production data out today so call in to ensure you don’t miss out.

In the USA, the US dollar strengthened against sterling to hit a low of $1.5396/£1 after the concerns hit sterling over potential further emergency funding being pumped into the UK economy. This saw the US dollar break through the 200 day moving average. In addition, the US trade deficit dropped and unemployment claims fell which added a boost to sentiment towards the US recovery. There is no real data out today so call in now for a live price.

Elsewhere, Australian employment jumped by 30,900 in August – far more than the 25,000 that had been expected. This in turn saw the Australian dollar receive a boost as investors feel that the economy is stronger than expected. Speak to a trader today to prevent your payments costing more than planned.

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

2010-09-09T10:18:00.001+01:00

EURO/GBP - 1.210
US$/GBP - 1.539
CHF/GBP - 1.563
CAN$/GBP - 1.594
AUS$/GBP - 1.664
NZD/GBP – 2.120
EURO/US$ - 1.272

Sterling recovered from 6 week lows against the US dollar after strong housing data and stock market strength that saw global investors buy into riskier assets. Data released by mortgage lender Halifax showed that UK house prices rose for the second month running in August coming in at a 0.2% rise against expectations of a 0.3% drop. Manufacturing production rose by 0.3% in July taking the annual level to the highest level since 1994 which is helping to rebalance the economy away from debt based growth to manufacturing based growth. The main data out today is the Bank of England’s interest rate decision – released at 12:00pm today. Whilst the market expects rates to stay the same and the emergency funding level to stay at £200bn, a recent run of poor data may reignite the debate about expanding the emergency asset purchasing facility to stimulate the economy. The announcement could potentially see some significant volatility if anything unexpected happens. Call in now for a live exchange rate.

In the Euro zone, the single currency fell off against sterling as concerns crept back over the European banking system following an article earlier in the week criticising the European bank stress tests earlier in the year. The ‘spread’ (the difference in interest paid on government bonds vs. a German bond) increased in Portuguese and Irish bonds as uncertainty increased. Investors closely follow bond spreads and widening spreads indicate uncertainty. Final consumer price inflation for Germany (which came in at 0.0% for the month) is the only real data. Expect the euro to trade on sentiment. Call in now for a live price.

In the USA, the US dollar was not helped by Vodafone as the phone giant sold its minority share in China mobile that resulted in a market moving amount of US dollars being exchanged into sterling – boosting the pound. This triggered ‘stop losses’ – which are orders at specific levels on the exchange rate – and saw many investors pull out of trades that had been betting against the pound. Get in touch now for a live exchange rate.

Elsewhere, the Central Bank of South Africa is expected to cut interest rates by 0.5% from 6% to 5.5%. However, after recent strong wage data, rates might remain unchanged.

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

2010-09-08T11:02:00.001+01:00

EURO/GBP - 1.217
US$/GBP - 1.543
CHF/GBP - 1.557
CAN$/GBP - 1.619
AUS$/GBP - 1.686
NZD/GBP – 2.150
EURO/US$ - 1.267

Sterling fell to a 6 week low against the US dollar yesterday after concerns over the European banking sector and financial difficulties in the housing sector. Social housing maintenance firm Connaught suspended trading in its shares on Tuesday after failing to secure enough funding to pay its debts. The BBC said that the firm is on the brink of administration. Data from the British Retail Consortium showed that sales grew in August, but consumers remained cautious. With investors spooked by risk aversion, sterling hit $1.5298/ £1 – the lowest in 6 weeks. Sterling dropped to a 6 week low against the euro on Monday. There has been some respite however, as a Halifax survey of house prices came in better than expected showing that prices rose by 0.2% against an expectation of a 0.3% drop. Later today we have industrial production and manufacturing data. Call in now to ensure you minimise your risk.

In the Euro zone, fresh worries over the European banking sector were sparked after an article published in the Wall Street Journal stated that the much criticised European bank stress tests had understated the exposure of many of the banks to risky assets. This followed an announcement by Germany’s banking association that the country’s 10 largest banks would need an additional €105bn injection in order to comply with new banking regulations regarding capital adequacy. There is industrial production data out today. Call in now for an exact exchange rate.

In the USA, as a result of the investor jitters over Europe, risk aversion jumped which saw a boost in demand for the US dollar as investors looked for safer haven to invest their funds. In a week of light data releases for the USA, there is some data released later on consumer credit. Call in now for a live exchange rate.

Elsewhere, the Japanese yen gained 0.4% overnight against major counterparts as stock exchanges slumped in Asia and investors moved riskier investments back in to the safe haven of the yen. Speak to a trader today about your upcoming requirements to ensure you are adequately protected.

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

2010-09-07T11:35:00.000+01:00

EURO/GBP - 1.206
US$/GBP - 1.538
CHF/GBP - 1.558
CAN$/GBP - 1.601
AUS$/GBP - 1.689
NZD/GBP – 2.133
EURO/US$ - 1.275

Sterling has had a difficult seven days with the release of poor UK economic data raising significant concerns on the UK’s recovery. On Thursday we have the Bank of England meeting and sterling is being undermined by the worry that the BoE may revisit their programme of quantitative easing given the poor data. This has been on hold since the last quarter of last year and in the past when utilized has led to sterling losing value. Given these worries I would suggest you get in touch to minimise your risks in these highly volatile times.

Sterling continues to hover around the €1.20 level which is a key level of support. Economic data following the summer season is in short supply. The German economy is still the key driver for the euro zone and so long as this keeps on moving forward then we will see support for the euro.

As highlighted yesterday economic data out of the US has been mixed and a bit like the UK the markets are wondering what this means with regard to quantitative easing. The Federal Reserve meets later this week and just like here in the UK the markets are nervous as to what may happen. So this week although starting quietly on the data front could have a highly volatile ending and hence the need to minimise your risks by getting in touch now.

Commodity backed currencies continue to gain on the back of increase investor confidence. The Far East seems to be moving forward while the western world falters.

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

2010-09-06T10:42:00.002+01:00

EURO/GBP - 1.194
US$/GBP - 1.538
CHF/GBP - 1.563
CAN$/GBP - 1.596
AUS$/GBP - 1.680
NZD/GBP – 2.130
EURO/US$ - 1.288

Sterling suffered last week as fundamental data showed signs that the UK recovery is abruptly running out of steam. Purchasing manager data gives a bearing on how much companies are buying and is a useful tool in gauging the relative health of the economy. This came in at the lowest level for 9 months. In addition, Nationwide house price data showed that house prices dropped by 0.9% last month – the second consecutive monthly drop. New construction orders also fell by 14% on Friday which added further concern to investors over the growth prospects in the UK economy as the spending cuts take effect. It is a busy week this week, with manufacturing data, wholesale inflation, retail sales and the Bank of England interest rate decision. There is likely to be significant volatility and the outlook doesn’t look ideal for sterling strength. Call in now to ensure that you have protected yourself and your upcoming payments.

In the Euro zone, last week saw the European Central Bank announced that it would extend its credit line to banks until January 2011 and kept interest rates on hold. Monetary policy stays fairly loose too. Caution remains in the region, with mixed data leaving investors a little uncertain. Germany continues to outperform the rest of Europe with strong export and manufacturing figures, but this contrasts sharply with the ‘Southern European’ states of Greece, Spain, Portugal and Ireland. Sentix consumer confidence data is released today ahead of a more comprehensive figure later in the week and should give a good bearing on institutional risk appetite which many feel has improved marginally over the last few months. Call in now to ensure you don’t miss out.

In the USA, Friday’s Non-Farm Payroll figures showed that the US economy shed only 54,000 jobs last month beating analyst expectations of a 100,000 drop. Despite significantly beating expectations and seeing a slight surge in risk appetite, the fact remains that the US economy is still shedding jobs at a significant rate as the employment rate edged up to 9.6%. There is no data out today, as US markets are closed for the Labour Day public holiday. As a result, expect relatively thin trading so call in now to ensure that you get the best price on your foreign payments.

Elsewhere, a gauge of Australian inflation showed that the annualized growth rate moved higher to 3% in August. The outcome did very little for rate hike expectations as the Reserve Bank of Australia gets ready for the next interest rate decision later on in the week. A survey by investment bank Credit Suisse points to no further rate hikes over the course of the coming year. Speak to a trader now to minimise your exposure to foreign exchange risk.

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

2010-09-03T10:06:00.000+01:00

EURO/GBP - 1.201
US$/GBP – 1.541
CHF/GBP – 1.565
CAN$/GBP - 1.626
AUS$/GBP – 1.695
NZD/GBP – 2.154
EURO/US$ - 1.282

Sterling fell against the euro and US dollar yesterday as weaker than forecast housing and construction data added to concerns that the UK recovery may be faltering. House price data showed that house prices fell by 0.9% last month against an expectation of a 0.3% drop. Construction PMI data also came in much worse than expected. This added to the view of many analysts and investors that the recovery that the UK has seen over the first half of the year is not sustainable and the UK will follow the USA in faltering after an initial period of recovery. After a period of weak data, there are also concerns that the new austerity measures will impact on UK growth. After briefly recovering against the US dollar on Wednesday, a German bank was responsible for selling large quantities of sterling which saw sterling fall against the US dollar and drop to a 3 week low against the euro. Ensure you don’t miss out if sterling drops any further by speaking to a trader today.

In the Euro zone, European data came in very much as expected with quarterly GDP remaining unchanged at 1%, monthly PPI data for the region showing the expected 0.2% improvement and the European Central Bank keeping interest rates on hold at 1%. The Central Bank surprised a few people with their decision to keep policy unchanged, but the press conference later in the afternoon provided a little more clarity. In terms of data today, there is final services PMI data out today and monthly retail sales data which is expected to show a mild 0.3% increase on last month. Get in touch with a trader to ensure you get the best price.

In the USA, unemployment claims fell marginally from last week coming in at 472,000 – a 6,000 drop from last time. Pending home sales data also showed a surprising jump showing 5.2% more than last month against an expectation of a decline. All eyes are on today’s Non-Farm payroll data. After a shock 131,000 decline in July, the general consensus is for another 100,000 drop in the level of employment this month. The employment rate is also released at the same time. Both of these figures have a market moving effect so get in touch sooner rather than later to take advantage of the volatility before and after the release.

Elsewhere, the Brazilian economy is expected to show year on year expansion of 7.6% reflecting stronger than expected household spending and strong Chinese demand for commodities over the last year. With the Brazilian base interest rate at 10.75%, many are expecting further aggressive hikes to keep the economy in check.

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

2010-09-02T09:55:00.001+01:00

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 less this month, and is a key indicator of business activity. It dropped by nearly 3 points on last month to hit the lowest level since November last year. Sterling fell to 1.2007/£1 as a result and struggled against other currencies such as the Australian dollar. Against the US dollar however, sterling broke through a key technical level which saw it hit a high of $1.5444/£1 – above the key 200 day moving average level of $1.5434/£1 which is watched so closely by many traders. However, sterling has shed these gains this morning to drop to $1.5390/£1 as poor data released this morning increased demand for US dollars. The Nationwide house price index showed that house prices have dropped by 0.9% last month sparking concerns over the health of the UK recovery. There is construction sector data released later today which sees further potential for sterling to fall. Call in now for a live price.

In the Euro zone, German retail sales disappointed coming in at -0.3% against an expectation of 0.6% growth. Final European manufacturing purchasing mangers data showed a slight improvement, coming in at 55.1 against an expectation of 55.0. Eurozone PMI data has been boosted recently by a boost in Asian demand for European exports and relief following the recent EU bank ‘stress tests’. The latest figure is released today alongside revised GDP figures and the European Central Bank interest rate decision. This is expected to remain on hold, but get in touch now for a live exchange rate and to ensure any data doesn’t adversely impact your payment.

In the USA, whilst manufacturing purchasing data showed an improvement that was better than expected, the ADP non-farm payroll figures came in a lot worse than expected. There was an expectation that the figures would show that the US econo9my added 20,000 jobs last month, but the data showed a drop of 10,000 sparking fears that Friday’s ‘main’ non-farm payroll data will be worse than expected. Out today, there is further Unemployment data in the form of the US claimant count and pending home sales data released. Fed Chairman Ben Bernanke also testifies to the Senate. Call in now for an exchange rate.

Elsewhere, Australia’s trade balance surplus narrowed for the first 3 months in July. Exports slumped by 4.6% with shipments to China falling by 7.9%. Chinese demand for mined goods from Australia has kept the antipodean economy afloat. Overseas sales of coal dropped by 16%, sparking fears that the boost from China is drying up. Call in 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

2010-09-01T09:35:00.002+01:00

EURO/GBP - 1.210
US$/GBP – 1.540
CHF/GBP – 1.564
CAN$/GBP - 1.636
AUS$/GBP – 1.709
NZD/GBP – 2.189
EURO/US$ - 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 to be further downward movement. Sterling also hit the lowest level against the Swiss franc since January 2009 and fell significantly against the Japanese yen. The Swiss franc, US dollar and Japanese yen are all ‘safe haven’ currencies and the extent of the demand for these safer holdings shows the level of poor sentiment that is prevalent in the global economy. Despite data showing that UK mortgage approvals increased and consumer credit improved last month, there was a clear feeling yesterday that the best of the UK data has already been seen and it is now a ‘high risk’ currency to invest in. In terms of data released today, there is manufacturing data which is expected to show a mild decline. Call in now to ensure you do not buy when the market has fallen further.

In the Euro zone, the euro also strengthened against sterling by 1.1% to hit 1.2064/£1 which is the highest in roughly 3 weeks. Many traders cited ‘month end’ demand for euro and one UK bank apparently moved a significant amount of sterling into euro which would have had a significant market moving effect. In terms of data yesterday, German unemployment dropped by 2,000 less than expected but Italian data surprised to the upside with retail sales improving by 0.3% and the unemployment rate dropping by 0.1% to 8.4%. Out today there is manufacturing data which is expected to remain the same. Get in touch now for a live price.

In the USA, yesterday saw poorer than expected purchasing manager data with the Chicago PMI figure showing a decline from 62.3 to 56.7. The minutes of the FOMC interest rate meeting were also published yesterday which did not show anything unexpected. The attention now shifts to the ISM index – another measure of purchasing managers’ sentiment towards the economy. This is expected to show a decline, and the ADP non-farm payroll figure is expected to show a much more modest 20,000 increase in monthly private employment. Call in now to ensure you don’t buy at a poor time.

Elsewhere, the Australian dollar surged in overnight trade as 2nd quarter GDP growth figures jumped to 1.2% against an expectation of 0.9%. This beat analyst forecasts and showed the biggest rise in 3 years. Chinese manufacturing data showed that industrial sector growth had accelerated for the first time in 3 months which is seen as supportive for Australian exports as China is the largest consumer of the nation’s mined goods. Speak to a trader now about where the Australian dollar price is heading.

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

2010-08-31T09:54:00.001+01:00

EURO/GBP - 1.216
US$/GBP – 1.542
CHF/GBP – 1.573
CAN$/GBP - 1.634
AUS$/GBP – 1.731
NZD/GBP – 2.202
EURO/US$ - 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 was revised upwards which is encouraging due to the fiscal consolidation which will take place. However a closer look at the figures revealed this revision was largely down to an 8.5% increase in construction output which will be very difficult to sustain for the remainder of 2010. This has seen many analysts argue that growth is very likely to slow later in the year. This week is a fairy quiet week for data in the UK. Call in now to speak to a trader about your risk management strategies.

The euro has been little changed overnight against sterling and the US dollar. German unemployment figures will headline the European economic calendar today, with expectations calling for jobless claims to fall 20,000. The unemployment rate is expected to remain unchanged at 7.6%. This is a further sign that the euro is being supported by the good performance of Germany whose export economy is benefitting from the Euros weakness against the US$. Call in now for a live exchange rate.

The US dollar continues to move with risk appetite after a series of negative data since the beginning of June. Today is a busy day in the US for economic releases with consumer confidence and the Federal Open Market Committee minutes for August released later tonight. Call in now to ensure you do not miss out on any favourable movements.

Elsewhere, the Bank of Japan has tried to address the recent appreciation of the Japanese Yen by expanding its special loan programme. In Australia retail sales and building approvals both showed better than expected figures overnight.

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

2010-08-27T09:48:00.001+01:00

EURO/GBP - 1.219
US$/GBP – 1.552
CHF/GBP – 1.590
CAN$/GBP - 1.643
AUS$/GBP – 1.749
NZD/GBP – 2.203
EURO/US$ - 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 of GDP data in the UK and a surprise to the upside could benefit Sterling. Get in touch now to speak to our traders so you can plan ahead accordingly.

The Euro was well supported against Sterling and the US dollar on Thursday as consumer confidence figures pushed German shares higher. Euro zone lending still remains in a fragile situation with data showing that there has been a growth in loans to euro zone households whereas loans to companies have declined by 1.3% over the year. Call in now for a live exchange rate.

The US dollar continues to move with investor risk appetite and today the focus will be on GDP data as well as the Federal Reserve Chairman Ben Bernanke’s speech at the central banker summit in Jackson Hole.

Commodity linked currencies also performed well on the back of improved risk sentiment as both the Australian and Canadian dollars made gains against the US dollar.

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

2010-08-26T10:14:00.000+01:00

EURO/GBP - 1.223
US$/GBP – 1.553
CHF/GBP – 1.599
CAN$/GBP - 1.640
AUS$/GBP – 1.751
NZD/GBP – 2.209
EURO/US$ - 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 than normal. Today sees the release of the CBI Distributive Trade Survey which gives an indication of how retailing activity has faired in August. Get in touch now to speak to our traders so you can plan ahead accordingly.

The euro was initially well supported on Wednesday after the German IFO business climate (survey for German business sentiment) unexpectedly rose in August. Germany are clearly benefitting from a weaker euro as they are an export driven economy. The euro had been under pressure due to risk aversion as Ireland’s sovereign credit rating was downgraded by Standard and Poor. Today sees the release of economic data which should confirm that the pace of contraction in loans to non-financial corporations are continuing to ease. Call in now for a live exchange rate.

The US dollar continues to benefit against the euro and sterling as investors pile into safe haven assets due to the uncertainty surrounding the future for the global economy. Today is a relatively quiet day for the US dollar so ensure you are taking advantage of any movements in your favour by speaking to a trader today.

Elsewhere the Canadian dollar rebounded from the weakest level in almost two months as equities rallied and crude oil rose. The Canadian dollar is strongly correlated to the price of crude oil as it is its biggest export.

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

2010-08-25T10:16:00.002+01:00

EURO/GBP - 1.214
US$/GBP – 1.544
CHF/GBP – 1.587
CAN$/GBP - 1.634
AUS$/GBP – 1.738
NZD/GBP – 2.188
EURO/US$ - 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 faced a significant risk of falling back into recession.” If risk aversion continues to weigh on the market, sterling could suffer further against the US dollar. Sterling will be dictated by risk trends today as there is limited economic data due for release. Call in now for a live exchange rate.

The euro still remains under pressure following Axel Weber’s comments last week. Further comments from the renowned economist Joseph Stiglitz also weighed on the euro as he fears that the European economy could drift back into a downturn due to efforts to reduce their budget deficits. Today sees the release of German IFO expectations data which is one of the country’s key business sentiment surveys. Get in touch now to speak to our traders so you can plan ahead accordingly.

The US dollar has been well supported due to renewed risk aversion as financial markets continue to cope with the possibility that the economic recovery is running out of steam. There was further evidence yesterday that the US housing market is stalling as existing home sales were much weaker than expected at 3.83 million in July against a market expectation of 4.65 million. This was the worst figure for 15 years. Data on new home sales and durable goods orders are due for release today. Ensure you are taking advantage of the best prices by speaking to a trader today.

Global equities and commodities also fell sharply as investors sought the safety of government debt. This sent UK, German and US bond yields to a record lows. Further evidence of investors exiting risky assets can be seen in the Japanese yen’s rise against the US dollar which is now trading at a 15-year high.

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

2010-08-24T09:09:00.002+01:00

EURO/GBP - 1.219
US$/GBP – 1.538
CHF/GBP – 1.604
CAN$/GBP - 1.627
AUS$/GBP – 1.736
NZD/GBP – 2.189
EURO/US$ - 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 means that we can see rapid movements even when there is a lack of supporting data. That is why it is so important to get in touch as early as possible so that we can best help you manage your exposure.

In the Euro zone, sentiment in the region has deteriorated following comments from Axel Weber, German Bundesbank president and a member of the ECB’s governing council last week. He is pushing the ECB to extend its ultra loose monetary policy for as long as possible amid concerns that the difficulties caused by the sovereign debt crisis are not over. This seems sensible to me as the risk factors are still extreme. Second quarter growth in Germany was confirmed at 2.2% this morning as exports and investment fuelled Germany’s record breaking economic growth. Get in touch now for a quote to ensure you do not miss out.

The US dollar is performing well against the euro and sterling this week on the back of renewed risk aversion. Today sees the release of US existing home sales which is expected to have fallen to 13.2% in July. Make sure you are taking advantage of the best prices by speaking to a trader today.

The Australian dollar has suffered at the start of this week as their election failed to produce a clear winner. The prospect of a hung parliament caused the Australian dollar to fall. This morning we have seen a slight pull back but the next few days are expected to be volatile as economic compromises will be made by both parties.

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

2010-08-23T10:21:00.000+01:00

EURO/GBP - 1.225
US$/GBP – 1.558
CHF/GBP – 1.610
CAN$/GBP - 1.631
AUS$/GBP – 1.743
NZD/GBP – 2.202
EURO/US$ - 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 the decision to keep interest rates unchanged was not unanimous for a third successive month as Andrew Sentance was once again the lone dissenter, calling for an increase of 25 basis points to 0.75 percent. Sterling was initially well supported after the Bank of England minutes as there was no talk about a further bout of quantitative easing. For this upcoming week broader risk trends will dictate sterling price action as sterling faces a light economic calendar. Call in now for a live exchange rate.

In the Eurozone, the euro finished the week on the slide against sterling which has continued into this morning. This was despite good German data which showed that German manufacturing has enabled the country to return to pre-crisis levels for exports of goods, with renewed demand for German cars and machine tools. There seems to be a feeling that Germany is carrying the rest of Europe on its own with Greek, Portuguese, Irish, Italian and Spanish debt interest rates all rising sharply. Today sees Purchasing Managers Index (PMI) data released today for various member states. PMI data is generally seen as a good barometer for industrial trends. Get in touch now for a quote to ensure that you don’t miss out.

The US dollar rallied last week due to poor US data and losses on equity markets around the globe. The number of new claims for unemployment benefits unexpectedly jumped to 500,000. In addition, a key measure of manufacturing production showed a further than expected decline. As a result of this poor data, there are yet again concerns over the state of the US recovery and as such – the global recovery as a whole. With a stalling housing market and poor economic data expect this week’s trading to revolve around risk aversion as investors look to avoid unnecessary risks to their investments. There is little data out today – ensure you are taking advantage of the best prices by speaking to a trader today.

In Asia the Japanese government increased pressure on the Bank of Japan to try to stop the increase of the Japanese yen. The strong yen is hurting Japanese exports, making them less competitive abroad and has caused the stock market to fall, with the Nikkei falling nearly 2% on Friday. In Australia we have the spectre of a hung parliament with whichever party who manages to form a government very dependent on the 4 independent members of parliament. This is likely to lead to some uncertainty for the Australian economy and the Australian dollar.

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

2010-08-20T10:54:00.001+01:00

EURO/GBP - 1.217
US$/GBP – 1.552
CHF/GBP – 1.604
CAN$/GBP - 1.617
AUS$/GBP – 1.746
NZD/GBP – 2.205
EURO/US$ - 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 that sales would fall last month after World Cup related electronic goods sales tapered off. However, the figures surprised with a 1.1% jump which saw a surge in confidence in sterling. What pleased analysts was that there was no anomalous factors – such as Christmas spending – that could have artificially affected the figure. Public sector borrowing figures were also down and data showed that money supply increased – this is good for growth, as it shows more money is ‘flowing’ through the system, which causes growth. However, mortgage lending figures were poor and so far this morning this has seen investor sentiment drop as concerns grow over the UK’s growth prospects. This sums up the ebb and flow in sentiment over currency. With an absence of any ‘hard’ data today, call in now to ensure you catch the sentiment at the peak.

In the Eurozone, the single currency took a back seat yesterday as most of the data releases came from both the UK and the USA. However, the main release was German PPI purchasing manager data which came in better than expected at 0.5%. Sterling performed relatively well against the euro but fell short of breaking through the 1.22/£1 barrier. There is no real data out off the Euro zone today, but following poor US unemployment figures yesterday, the euro is likely to trade on poor sentiment and suffer against the US dollar. Get in touch now for a live exchange rate.

In the USA, there was two key pieces of economic data released yesterday. Firstly, unemployment claims. After falling to 478,000 last week, the number of new claims for unemployment benefits unexpectedly jumped to 500,000. In addition, a key measure of manufacturing production showed a further than expected decline. As a result of this poor data, there are yet again concerns over the state of the US recovery and as such – the global recovery as a whole. Expect today’s trading to revolve around risk aversion as investors look to avoid unnecessary risks to their investments. Get in touch now for a live price.

Elsewhere, New Zealand credit card spending fell by 1.2% in July bringing the annual growth rate to a meagre 2.7%. Bank of New Zealand governor also effectively pleaded to firms to keep underlying inflation low and avoid hiking prices so that the Bank could avoid further interest rate hikes. Get in touch now and speak to a trader.

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

2010-08-19T09:56:00.001+01:00

EURO/GBP - 1.213
US$/GBP – 1.552
CHF/GBP – 1.617
CAN$/GBP - 1.598
AUS$/GBP – 1.729
NZD/GBP – 2.178
EURO/US$ - 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 high of $1.5689/£1 after hitting $1.5498/£1 as speculation grew that the Bank had discussed adding further emergency funding to the economy. However, the Bank kept rates and the Asset Purchase Facility on hold and briefly discussed expanding the £200bn in the economy if it was needed, but none of the rate setters voted for any expansion in the programme. Lone member Andrew Sentance yet again called for a 0.25% interest rate hike for the 3rd month in a row. That was the only data out yesterday of importance – out today there is key monthly retail sales data which is expected to show a slight decline after last month’s World Cup related boost to retail sales. Get in touch now for a live exchange rate and to ensure you don’t lose out if the data doesn’t come in as expected.

In the Eurozone, it was a fairly quiet day for the region with most of the focus on the UK. However, the euro slipped against sterling and the US dollar after a report in German newspaper Der Spiegel stated that the austerity measures put in place to fix Greece are damaging the German economy. Euro dropped by 0.4% against the US dollar to hit $1.2805/1 and it fell by around 0.2% against sterling to hit 1.2134/£1. In terms of data, German purchasing manager data came in at 0.5% - better than expected. Get in touch now for a live exchange rate.

In the USA, the US dollar strengthened against the Japanese yen this morning as investors wait to see whether the Japanese government will take measures to rein in the strength of the currency. With yen in high demand when investors are looking for safe currencies to hold, the Japanese currency has appreciated in value as demand grows. However, with an export led economy, a strong currency makes goods less attractive so there has been speculation that the Japanese government may devalue the currency with a round of Quantitative Easing. In the USA, there is unemployment claims data and manufacturing data released later on – ensure you plan your next payment effectively by speaking to a trader today.

Elsewhere, Australian weekly wages figures rose 0.8% in the 3 months to May – the smallest quarterly increase in 4 years. This points to little inflationary pressure over the coming months and justifies the Central Bank’s outlook that interest rates will stay on hold for some time to come. New Zealand producer prices rose for the second consecutive quarter and consumer confidence rose for the first time in 3 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

2010-08-18T10:23:00.003+01:00

EURO/GBP - 1.209
US$/GBP – 1.555
CHF/GBP – 1.619
CAN$/GBP - 1.605
AUS$/GBP – 1.726
NZD/GBP – 2.182
EURO/US$ - 1.286

Sterling fell yesterday against the US dollar and euro yesterday after inflation data showed a slow down in UK price growth. Sterling hit a high of $1.57/£1 in early trading yesterday before a US bank sold a large amount of sterling, and in thin trading, this caused the pound to drop down to a session low of $1.5560/£1. CPI inflation data didn’t necessarily help sterling either, coming in lower than last month at 3.1% for the year against last month’s reading of 3.2%. This is the eighth straight month that inflation has exceeded the Bank of England’s 2% target and yet again requires Governor Mervyn King to write an explanatory letter to Chancellor George Osborne. King is adamant that inflationary pressures are short term and will ease over the next 2 years. This remains to be seen, but with the Bank of England minutes released tomorrow, it is likely that this will be the tone that was set. Speak to a specialist now to ensure you are buying at the right time.

In the Eurozone, German ZEW economic sentiment fell by more than expected after recent poor GDP data, but European sentiment as a whole improved. This mixed data had little impact as the euro rose 0.8% against sterling following a boost in risk sentiment towards the single currency after a better than expected bond auction saw investor confidence jump. The reason for this was that the Irish government successfully auctioned 1.5bn worth of bonds despite major concerns over the country’s banking sector. Call in now for a live exchange rate.

In the USA, the US dollar strengthened after a US bank sold a large amount of sterling. In addition, US industrial production jumped to 1% on the month – 0.5% better than expected. This saw Asian stock markets rise overnight despite a boost to the US dollar and Japanese yen related to risk aversion. There is little data out today, with the main US release being unemployment claims on Thursday. Get in touch now for a live exchange rate.

Elsewhere, a leading measure of economic growth in Australia stalled in June and showing an overall figure of 1.9% for the second quarter – the smallest since September. The reason behind this is clearly the increased interest rates over the last few months that have filtered through to the ‘real’ economy and have impacted consumer spending. Contact a trader now for a live price.

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

2010-08-17T09:52:00.002+01:00

EURO/GBP - 1.216
US$/GBP – 1.565
CHF/GBP – 1.625
CAN$/GBP - 1.628
AUS$/GBP – 1.736
NZD/GBP – 2.201
EURO/US$ - 1.286

Sterling reclaimed some of the ground lost against the US dollar last week, rising 0.4% yesterday to hit $1.5665/£1 after risk sentiment improved in trading yesterday. Against the euro, sterling slipped after house price data showed that the housing market had faltered in the last month. Data from Rightmove showed that prices slipped by 1.7% against an expected gain of 0.6%. This saw sterling drop by 0.4% against the euro as additional positive data added to the single currency. Aside from the house price data, it was a relatively quiet day for sterling. However, there is key inflation data out today and retail sales data released later in the week with the most important release being Wednesday’s Bank of England minutes likely to cause the most market movement. What most investors are looking for is whether any of the Monetary Policy Committee members joined Andrew Sentance in voting for an interest rate rise, as he did last month. Call in and speak to a trader to ensure you protect yourself from the markets moving against you.

In the Euro zone, sentiment towards the region improved yesterday and risk appetite improved after the European Central Bank revealed that it had bought minimal government bonds from the region last week. This encouraged financial markets, as it shows that there is a demand for European government bonds despite serious concerns over the ability of many governments to repay debt. As a result, the euro experienced higher demand as investors looked for riskier assets to invest in. In terms of data, inflation data came in as expected at 1.7%. Out today, there is economic sentiment data for the region which could see a surprise jump upwards after the last month. As always, get in touch to avoid missing out.

In the USA, the boost in risk appetite in the Euro zone saw the US dollar drop off against sterling and the euro. Global stock markets recovered as investors looked to pick up relatively cheap stocks and shares after last week’s risk aversion devalued stock markets. Elsewhere, data showed that there was a net overall outflow of capital out of the USA in June. One of the major reasons was that the Chinese government has started buying Japanese government over the US equivalent as it feels that Japanese bonds are a lot less risky than their US counterparts. This general lack of interest for US investments is not great news for the US dollar. Call in now to make sure you take advantage.

Elsewhere, minutes from the Reserve Bank of Australia’s August interest rate meeting showed that the current interest rate levels were ‘still appropriate’ given the increased uncertainty in the global outlook and the cooling demand in the domestic market. Interest rate hikes that started in October have filtered through into the ‘real economy’ and as such, credit and borrowing is down. Get in touch now to take advantage of the 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

2010-08-16T10:07:00.001+01:00

EURO/GBP - 1.216
US$/GBP – 1.555
CHF/GBP – 1.618
CAN$/GBP - 1.619
AUS$/GBP – 1.748
NZD/GBP – 2.218
EURO/US$ - 1.278

It was an interesting week last week for sterling after the Bank of England’s quarterly inflation report gave a downbeat assessment of the UK’s prospects over the next two years. After a lot of positive sentiment following the new coalition government and the emergency budget over the last 3 months, the Bank of England’s Monetary Policy Committee put a dampener on things by slashing their growth forecasts and inflation expectations. Sterling suffered against the US dollar as a result and many are expecting sterling to hit $1.55/£1 or lower in the next few weeks. Sterling performed well against the euro after concerns over euro zone sovereign debt hurt the single currency. The big data out this week in the UK is the release of the minutes of the Bank of England’s most recent meeting which, given the tone of the inflation report, could add to sterling’s recent decline. Housing data has shown that house prices dropped by 1.7% in August. This is the largest decline in 8 months, so ensure you don’t miss out by calling in for a live exchange rate.

In the euro zone, German GDP came in much stronger than expected last week posting figures of 2.2% against an expectation of 1.3% initially boosting the euro. However, towards the back end of the week, a poor Italian bond auction left the euro struggling. Demand was a lot lower than expected for the Italian debt, and as a result, investors became concerned over the risk of sovereign default in the region and as a result the euro fell to a 6 week low against sterling. Out later today, there is year on year CPI inflation data, which is expected to show an increase of 1.7%. Call in now to speak to a trader about your risk management strategies.

In the USA, last week saw the Federal Reserve vote to add further funding to boost the economy. As a result, risk aversion came back to the fore and there is strong demand for the safe haven US dollars despite major concerns over the US economy. Now might be a good time to secure prices to stop the market moving further against you as some analysts are predicting a return to the $1.40s. In the meantime, many analysts expect a move to $1.5505/£1 which is a key technical average of the last 200 day’s worth of price movement and an important signal for many. Call in to ensure you don’t miss out.

Elsewhere, Australian motor vehicles fell 2.6% - the third consecutive decline, and many have linked this to the increased borrowing costs that have come from the 1.5% rise in interest rates. New Zealand’s services sector posted figures showing that the sector was expanding at the slowest level for 10 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

2010-08-13T10:02:00.000+01:00

EURO/GBP - 1.217
US$/GBP – 1.563
CHF/GBP – 1.645
CAN$/GBP - 1.622
AUS$/GBP – 1.737
NZD/GBP – 2.193
EURO/US$ - 1.284

It has been a mixed week for sterling which ended the week up against the euro and down against the US dollar as a fresh wave of risk aversion hit global markets. Sterling hit a new 6 month high of $1.5999/ £1 on Monday but then dropped to a 2 week low of $1.5565/£1 on Thursday. The reason for this sudden increase in risk aversion was as a result of Wednesday’s Bank of England quarterly inflation report. This was a key assessment of the new government’s spending cuts and tax hikes and as a result, growth forecasts were slashed and inflation is expected to be well within the target 2% level within 2 years. More importantly, the Bank left the door wide open for further emergency Quantitative Easing if it is needed. This left financial markets concerned over UK recovery. Poor housing data and lower consumer confidence added to sterling’s problems and the strength against the Euro was related to risk aversion caused by the US economy. Call in now to ensure you don’t lose out on further poor market movements

In the Euro zone, sterling has broken out of the tight range we have seen over the last 2 weeks against the euro after the US Federal Reserve voted to inject further money to jumpstart the flagging US recovery. This saw investors pull out of riskier euro assets and buy into the safer currencies of US dollar and sterling. As a result, the euro lost over 2% against the US dollar and 1% against sterling. Poor data from Greece and a drop in European industrial output on Thursday kept the euro under pressure. Out today, there is GDP data for the region so call in now to ensure that you don’t miss out.

Against the US dollar, sterling jumped to a 6 month high against US dollar this week, but since Monday sterling has been on a downward trend after the Federal Reserve announced further Quantitative Easing. On Wednesday, the decision was made that the US economy had underperformed for the last quarter and as such, it needed a further boost. As a result, risk aversion is back in play and there is strong demand for the safe haven US dollars despite major concerns over the US economy. Now might be a good time to secure prices to stop the market moving further against you as some analysts are predicting a return to the $1.40s. Today could be interesting too, as according to some research, an estimated 17-21 million people in the USA are afflicted by a fear of Friday the 13th (or friggatriskaidekaphobia) and the US economy loses between $800-$900m as people become too afraid to leave the house – ensure you don’t miss out by speaking to a trader today.

Elsewhere, retail sales in New Zealand came in far better than expected and as a result, the New Zealand dollar has outperformed major counterparts overnight. This countered last week’s disappointing unemployment rate and many traders questioned whether the central bank would in fact need to raise interest rates further in the year. Call in 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

2010-08-12T09:32:00.001+01:00

EURO/GBP - 1.215
US$/GBP – 1.569
CHF/GBP – 1.658
CAN$/GBP - 1.642
AUS$/GBP – 1.746
NZD/GBP – 2.197
EURO/US$ - 1.291

Sterling dropped by nearly 1% against the US dollar yesterday after the Bank of England’s quarterly inflation report said that inflation would drop below the 2% target level in the next 2 years. In addition the Bank left the door wide open for further emergency funding or ‘Quantitative Easing’. The Bank also slashed growth forecasts on the grounds that there is significant uncertainty ahead for the UK, European and US economies. With markets pricing in increased inflation following next year’s VAT hike to 20%, a downward revision came as a bit of shock to many investors and set the pound on track for the biggest daily drop against the US dollar since the election. The economic prospects for the UK were described as “highly uncertain” and as such further emergency funding could be used if needed. There is hardly any data out today, and as such expect the pound to underperform against the US dollar as a result of continued poor sentiment. Get in touch now for a live exchange rate.

In the Eurozone, the euro dropped by over 1% sterling and over 2% against the US dollar as investors pulled back from riskier investments after the US Federal reserve announced a further round of quantitative easing. The move sparked investors in European assets to pull back as concerns over growth left them fleeing towards safer currencies. Sentiment towards the pound is better than the euro and as such, despite a poor assessment from the Bank of England, sterling strengthened by over 1% to hit a high of 1.2160/£1. Out tomorrow, there is the European Central Bank monthly bulletin and monthly industrial production data.

In the USA, the main news was that the Federal Reserve announced that they will add additional emergency funding into the US economy to counter the flagging economy. In addition, poor data added to the US dollar’s problems as the trade deficit widened by nearly $8bn. Out tomorrow, there is further data on Unemployment claims. Call in now for a live exchange rate to ensure you don’t miss out.

Elsewhere, New Zealand’s manufacturing sector shrank for the first time in 11 months which points to waning demand that will put pressure on employment. In addition, the Australian economy added 23,500 jobs in July, but the full time employment rate dropped for the first time in nearly a year. Ensure you don’t miss out and speak to one of the team 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

Currency Rates and Comments - 10th August 2010

2010-08-11T09:42:00.002+01:00

EURO/GBP - 1.210
US$/GBP – 1.578
CHF/GBP – 1.665
CAN$/GBP - 1.636
AUS$/GBP – 1.748
ZAR/GBP – 11.491
JPY/GBP – 134.40
HKD/GBP – 12.257
NZD/GBP – 2.196
EURO/US$ - 1.304

Sterling fell sharply yesterday against a stronger US dollar, hitting a 1 week low of $1.5750/£1. Weak housing and retail sales data in the UK added to the downward movement for the pound. A house price survey showed that 8% more of estate agents reported that prices had fallen and a retail sales monitor came in worse than expected. The house price data was the first time that house prices had fallen for the first time in a year and this raised concerns that the UK recovery might be faltering. Out later today in the UK, we have unemployment data on the number of people claiming unemployment benefits. This is expected to show a reduction of 17,000. In addition, later this morning, the Bank of England releases their inflation report which assesses the impact of the new coalition’s spending cuts on growth and inflation. This could be quite negative so get in touch to ensure you don’t miss out.

In the Euro zone, German monthly inflation came in marginally better than expected at 0.3% against an expectation of 0.2% but wholesale price inflation fell by 0.3%. In addition, monthly French industrial production data came in worse than expected and showed a 1.7% drop on last month. So far this morning, the pound has jumped against the euro to break through the 1.21/£1 barrier for the first time in a few days. There is very little data out in the Eurozone today so call in now for a live exchange rate.

In the USA, there were concerns at the beginning of the week that the Federal Reserve would pump further money into the economy to stimulate the flagging US recovery. The markets are still awaiting full details of the plan, but the Federal Reserve announced that it will take further actions to inject more money into the economy. This was an important shift in policy, as only a few months ago the Federal Reserve was talking about how to scale back the emergency stimulus. However, the recovery has not gone as well as expected and further stimulus is clearly necessary. The US dollar has hit a near 15 year low against the Japanese yen – get in touch now for a live exchange rate.

Elsewhere, Australian consumer confidence jumped 5.4% in August to the highest level in 7 months. Analysts attribute the boost in confidence to the Reserve Bank of Australia’s decision to keep interest rates steady. 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

2010-08-10T09:20:00.001+01:00

EURO/GBP - 1.199
US$/GBP – 1.580
CHF/GBP – 1.664
CAN$/GBP - 1.629
AUS$/GBP – 1.731
NZD/GBP – 2.185
EURO/US$ - 1.316

Sterling hit a daily high of $1.5998/£1 but slipped away as the pound yet again struggled to break through the $1.60/£1 barrier. Sterling strengthened as the fallout from Friday’s poor US jobs data continued to hammer the US dollar. With many financial options ready to trigger at the $1.60 level, as well as it being a key ‘psychological’ level there is a need for a large ‘boost’ for the pound to push through – and hold firm – away from the $1.50s. This week, we might have just that with the FOMC (the US equivalent of the Monetary Policy Committee) meeting getting under way yesterday evening. There is speculation that there may be further emergency funding injected into the US economy to help jumpstart the floundering economy. The decision is announced today. Aside from that, it was a quiet day on the economic calendar. Out later today, there is UK trade balance data and consumer confidence figures. Ensure you don’t miss out and call in now for a price.

In the Eurozone, it was yet another quiet day. The euro has kept a low profile in the last few weeks, and as one Reuters reporter rightly asked today – whatever happened to the eurozone crisis? The euro is up nearly 10% against the US dollar, lending markets have improved and demand for sovereign debt in the region has increased. One argument put forward is that the risks were wholly over exaggerated. Talk of financial Armageddon and total collapse of the single currency was the norm a few months back, but now there is nothing. There are still significant risks, and several long years worth of tough spending cuts, but the panic has (for the moment) died down. This is likely to keep the pound from hitting 1.25/£1 in the short term, so get in touch now to maximise the size of your payments.

In the USA, the fallout from last week’s unemployment data continues to cause issues for the US dollar. Speculation over further quantitative easing has been high today and with the FOMC meting starting late last night. No recovery occurs in a straight line, and a run of poor data does not necessarily instantly mean that the US is entering a ‘double-dip’ recession. Lloyds TSB are predicting that the UK will enter a similar phase in 6-12 months and that we will see prices back towards the $1.40s. Call in now to take advantage of current pricing.

Elsewhere, Australian business confidence fell to the lowest level in 14 months in July raising the likelihood that the central bank will hold off on the series of interest rate hikes that began last October. The rate rises have been filtering through into the ‘real’ economy of late, with a raft of consumer data showing that lending to consumers has dropped off. 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

2010-08-09T10:12:00.001+01:00

EURO/GBP - 1.199
US$/GBP – 1.594
CHF/GBP – 1.655
CAN$/GBP - 1.637
AUS$/GBP – 1.733
NZD/GBP – 2.179
EURO/US$ - 1.328

Last week was a strong one for sterling – especially against the US dollar where the pound finished up 1.74% on the week. We saw sterling hit a 6 month high of $1.5999/ £1 against the US dollar on Friday after poor US employment data showed a worse than expected decline in July. As expected, last week saw the Bank of England Monetary Policy Committee keep interest rates and the £200bn asset purchase facility on hold. This week sees the publication of the Bank of England’s inflation report on Wednesday, which should give some idea of what the bank is likely to do with monetary policy over the next few months. Many are expecting an upward revision to the interest rate forecast, but growth expectations following the new government’s spending cuts are likely to be key. Also out on Wednesday is unemployment claimant count data. Call in now for a live exchange rate.

In the Eurozone, the euro finished the week 0.04% up against sterling – testament to the lack of data released, but more that the focus has been between sterling and the US dollar of late. German industrial production and factory orders came in better than expected on Friday which helped the euro. Recently, there has been a slow return of confidence in the euro after the bank stress testing and Spanish bond auctions. Another quiet week for the euro, with the only potential market mover being the German GDP figures out on Friday. Get in touch now for a quote and to ensure that you don’t miss out.

In the USA, concerns over the US recovery were compounded on Friday after July’s Non-Farm Payroll figures showed a drop of 131,000 jobs on the month against an expected drop of 63,000. In addition, June’s figures were revised downwards by almost 100,000. This was clearly a disappointment for the markets – especially with the US interest rate decision tomorrow, and the poor figures fuelled speculation that the Federal Reserve will take further action to stimulate the economy. There is little other data out today – ensure you are taking advantage of the best prices by speaking to a trader today.

Elsewhere, Australian home loans dropped by 3.9% against an expected drop of 2%. However, this is hardly surprising after a series of interest rate hikes since October that have totalled 1.5%. These rate rises have filtered through to the ‘real’ economy and combined with cut backs on support to new homebuyers, private individuals have cut back on their borrowing. Call in now to ensure you are getting the best price.

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

2010-08-06T10:43:00.002+01:00

EURO/GBP - 1.203
US$/GBP – 1.587
CHF/GBP – 1.661
CAN$/GBP - 1.613
AUS$/GBP – 1.733
NZD/GBP – 2.180
EURO/US$ - 1.318

It has been a strong week for sterling – especially against the US dollar. We saw sterling hit a 6 month high of $1.5968/ £1 against the US dollar earlier in the week after a run of strong banking earnings from HSBC, Lloyds TSB, Barclays and RBS. The return to profit from UK banks saw the FTSE 100 surge as investors felt that the major risk to the UK economy had now passed. This in turn saw demand for the pound rise. Better than expected manufacturing data helped increase demand for sterling, but construction data was worse than expected highlighting that there are still areas for concern. Sterling is likely to struggle to break through $1.60/£1 without significant data giving it a reason to move. The Bank of England Monetary Policy Committee kept interest rates and quantitative easing on hold as was widely expected. Out later today there is manufacturing data for the UK – call in now for a live exchange rate.

In the Eurozone, Sterling strengthened earlier in the week against euro on the strong bank earnings. Since then it has stayed in a very tight range between 1.2040/£1 and 1.2070/£1. European data has been fairly limited this week, with monthly retail sales figures showing no growth from last month. In addition, the French trade balance improved by around 2bn and the European Central Bank kept rates on hold as was expected. There is always opportunity to take advantage of volatility – despite the lack of movement this week. Get in touch now to avoid missing out and to ensure that you are minimising the cost of your international payments.

In the USA, investors have been concerned over the state of the US recovery, which has lead to the US dollar’s decline this week. Federal Reserve Chairman Ben Bernanke opened the door for further emergency funding stimulus this week. Speaking to the Senate, Bernanke said that he would pump further money into the economy if it was needed. Today sees the release of the ‘Non-Farm’ Payroll data – essentially a measure of employment that excludes seasonal workers, as they can cause spikes in the figures. Pre-cursors this week have been positive, with the claimant count dropping yesterday. However, the Non-Farm Payroll has potential to move the markets when it is released later this afternoon. Many clients have been taking advantage of better GBP/ USD rates – ensure you don’t miss out and speak to us now.

Elsewhere this week, unemployment in New Zealand rose by 0.8% which came as a surprise. In addition, quarter on quarter employment declined by 0.3%. This saw the NZ dollar weaken, as interest rate expectations fell. The Australian dollar strengthened significantly in the second half of the week after the trade surplus increased more than expected after strong demand for iron ore and coal from China. ‘Commodity’ currencies are very volatile, so speak to one of the team now to avoid losing 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

2010-08-05T09:57:00.001+01:00

EURO/GBP - 1.204
US$/GBP – 1.583
CHF/GBP – 1.663
CAN$/GBP - 1.606
AUS$/GBP – 1.733
NZD/GBP – 2.181
EURO/US$ - 1.315

Sterling slipped off Tuesday’s highs as weaker than expected data on the UK services sector highlighted the possibility that the UK economy may struggle to match the better than expected growth posted in the first half of the year. The figure showed that the services sector was still growing, but not at the rate that had been expected. As a result, sterling fell off from the $1.5968/£1 level seen on Tuesday and is now trading around the $1.58/£1 level. House price data helped sterling, showing prices rose by 0.6% and strong earnings data from Lloyds TSB also helped keep the pound afloat. So far today, Barclays has released strong earnings figures, but a drop in Investment Banking profits has concerned investors. Out later today, there is the Bank of England’s interest rate decision for the month – widely expected to remain on hold. In other news, the Chinese government investment fund is rumoured to have sold $558m worth of shares, equating to £351.4m – the exact amount of Liverpool FC’s club debt, sparking rumours that the Chinese government will announce a takeover. Call in now for live exchange rates (and up to date progress on the Liverpool takeover story).

In the Eurozone, the single currency had a fairly quiet day, gaining marginally against sterling after the poor UK PMI data. Data in the region showed that retail sales were flat for the month, and European services data showed a small drop. In terms of data, the interest rate decision for the Eurozone is released later today, with ECB President Jean-Claude Trichet scheduled to take questions in a press conference following the announcement. Get in touch now for a live exchange rate to ensure you are buying at a good rate.

In the USA, data released yesterday was positive. The ADP non-farm payroll (an important precursor to the key government figures released tomorrow) showed that the US economy added 42,000 jobs last month. Purchasing manager data came in better than expected. Today, there is important unemployment data on the number of claims made for unemployment benefits. Get in touch now for a live price, as Non-Farm payroll is released tomorrow and this can cause volatility.

Elsewhere, unemployment in New Zealand rose by 0.8% which came as a surprise. In addition, quarter on quarter employment declined by 0.3%. This saw the NZ dollar weaken, as interest rate expectations fell. Call in 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

2010-08-04T09:24:00.001+01:00

EURO/GBP - 1.207
US$/GBP – 1.593
CHF/GBP – 1.660
CAN$/GBP - 1.634
AUS$/GBP – 1.746
NZD/GBP – 2.176
EURO/US$ - 1.319

Sterling hit a new 6 month high against the US dollar yesterday after improved sentiment towards the UK and concerns over the state of the US recovery. The pound hit $1.5968/£1 at lunchtime yesterday, buoyed by robust bank earnings data and recent strong UK economic data from the manufacturing sector and better than expected growth figures on Friday. However, sterling’s run was held back after construction activity data fell to a four month low. As a result, sterling stopped just short of the key level of $1.5970/£1, which is an important ‘technical’ recovery point from May’s $1.4225/£1 low. Whilst we might see sterling push through this level after today’s service sector data (which is expected to show growth) there is expected to be strong resistance at the $1.60/£1 level – firstly from a psychological perspective, and as there are reportedly numerous ‘sell’ orders set to trigger at that price, which will see sterling drop should we hit that price. Either way, get in touch now to ensure you are taking advantage.

In the Eurozone, the euro had a flat day against sterling but strengthened to a high of $1.3262/1 as concerns over the US economy saw the US dollar lose ground across the board. Inflation data for the Eurozone came in slightly worse than expected, showing 0.3% against an expectation of 0.4%. Out today, there is purchasing manager data and also retail sales which are expected to be flat. Despite a quiet day on the sterling/ euro front, there is always potential for significant volatility. Call in now for a live exchange rate.

In the USA, personal spending and income figures came in worse than expected; pending home sales fell by 2.6% on the month and factory orders for the month dropped by 1.2% – again, far worse than expected. In addition, Ben Bernanke alluded to further emergency funding in a speech last night in order to jump start the US recovery after several months of poor US data. This added to the US dollar’s woes. Ensure you don’t miss out – especially if you need to move US dollars into sterling at any point in the future.

Elsewhere, Australia’s trade balance surprised sharply to the upside with the surplus widening to $3.5bn unexpectedly. Exports rose unexpectedly after a 23% jump in metal ore sales and a 15% increase in coal shipments. Call in now for a live price.

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

2010-08-03T09:27:00.000+01:00

EURO/GBP - 1.206
US$/GBP – 1.595
CHF/GBP – 1.653
CAN$/GBP - 1.636
AUS$/GBP – 1.753
NZD/GBP – 2.178
EURO/US$ - 1.322

Sterling continued to strengthen against the US dollar and euro yesterday after the FTSE jumped by 2.5% following strong earnings data from the banking sector. Sterling hit a 6 month high of 1.5950/£1 against the US dollar and a 4 week high of 1.2111/ £1 against the euro. Shares in Europe’s largest bank HSBC jumped by 5.2% after first half profit more than doubled to $11.1bn – significantly beating expectations. The strong results helped drive appetite for riskier currencies as strong performance from HSBC showed evidence of a healthy banking sector, and given the banking sector’s contribution to the UK economy this in turn drove demand for sterling. Data on the UK manufacturing sector came in better than expected, with demand and employment higher than expected. Later today, there is data released on house prices and construction sector activity which are expected to show a mild decline on last month. House price data has been relatively poor over the last few months, but one report out today suggested that house prices would rise by 20% over the next 2-3 years. Call in now for a live exchange rate.

In the Eurozone, the euro strengthened against the US dollar hitting $1.3125 after demand for riskier currencies helped drive demand for the euro. However, the euro weakened against the pound after rumours circulated over a proposed sale of UK branches of RBS to Spanish bank Santander which could yield £1.8bn, which would need to come from euros. Manufacturing data came in slightly better than expected and later today we have purchasing manager data which is expected to show a slight improvement. Call in now for a live exchange rate.

In the USA, the US dollar fell broadly against both sterling and the euro as risk appetite saw investors relinquish ‘safe haven’ US dollar holdings in favour of riskier assets. Relatively poor US data over the last few months has left the US dollar reeling – especially after the poor GDP data last Friday. Manufacturing and construction data were positive today, but analysts feel that the US dollar is rebalancing against sterling. After a sustained period where the price of the pound has reflected disaster in the financial sector, today’s HSBC results have for many seen that risk disappear. Whilst this is not strictly true, a return to a strong banking sector in the UK is a very good thing – let’s hope it isn’t just a flash in the pan. Call in now for a live price and to ensure you are taking advantage of strong prices.

Elsewhere, the Australian dollar was little changed after the Reserve Bank of Australia kept interest rates on hold at 4.5%. RBA Governor Glenn Stevens said that the current levels were appropriate – especially given the time lag between rate changes and the eventual effect on the ‘real’ economy. Consumer credit dropped sharply last week – attributed to the rate hikes of 6 months ago. 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

2010-08-02T09:46:00.001+01:00

EURO/GBP - 1.208
US$/GBP – 1.578
CHF/GBP – 1.652
CAN$/GBP - 1.616
AUS$/GBP – 1.730
NZD/GBP – 2.155
EURO/US$ - 1.306

It was a strong week for sterling – especially against the US dollar. The pound has already breached the 5 month high of $1.57/ £1 that was seen on Friday. The reason for sterling’s strength was that the previous week, GDP data exceeded expectations to show 1.1% growth for the 2nd Quarter in the UK. Also, Retail sales data was far better than expected last week. Investors now feel better about the UK’s prospects. However, Bank of England chief Mervyn King was still cautious, stating that the ‘UK economy still faces significant headwinds’. He stated that there was still a possibility that interest rates could go down or more money could be pumped into the economy. Overall though, it was a strong week for sterling, but areas for concern still remain. Ahead today, there is manufacturing purchasing manager data which is expected to show an improvement. Call now for a live price to ensure you don’t miss out.

In the Euro zone, the news was dominated last week by the results of last Friday’s European bank stress tests which showed that only 7 out of 91 banks needed further capital. Whilst on the face of it, this may seem positive, the tests were heavily criticised for not giving a true picture of the sheer scale of the debt situation in the region. One analyst went so far as to say he was ‘bemused’ by the relative strength of the euro last week, and in early trading today we have seen the pound recover back above the 1.20/ £1 mark to hit a 4 week high. Given market estimates of 1.25/ £1 many see this as a good time to take advantage and protect yourself if you need to move euros into sterling. Call in now for a live price.

Sterling jumped by nearly 6 cents against the US dollar last week after the release of UK GDP data and retail sales data. This morning, the pound has already hit $1.5790/£1. After strong UK data and relatively weak US data, investors now see the UK as a better investment. The US dollar did strengthen briefly last week after strong US housing data, but US unemployment claims were fairly unimpressive. The big data of the week was Friday’s GDP data, which showed that the US economy grew by 2.4% in the last quarter. This was worse than expected and shows a fall from last quarter’s figure of 3.7%. The US recovery is stalling, but there is still scope for volatility over the next few months. This week we have a wide range of data including non-farm payroll data. Many clients have been taking advantage of better GBP/ USD rates – ensure you don’t miss out and speak to us now.

Elsewhere, New Zealand raised interest rates last week to 3.0% and the NZ dollar weakened after the governor of the Royal Bank of New Zealand downplayed expectations of further interest hikes. In addition, Australian inflation slowed dramatically in July falling to 2.8% from 3.6%. This reinforced expectations of flat monetary policy.

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

2010-07-30T10:00:00.000+01:00

EURO/GBP - 1.198
US$/GBP – 1.562
CHF/GBP – 1.621
CAN$/GBP - 1.613
AUS$/GBP – 1.736
NZD/GBP – 2.166
EURO/US$ - 1.303

Sterling hit a further 5 month high of $1.5660/£1 yesterday on speculation over month end ‘rebalancing’ after strong performances on the US stock market. Strong earnings from many US firms over the last week has left many analysts expecting investors to sell their US dollar share holdings, putting pressure on the US dollar. Sterling also broke through a key technical barrier on the graph this week, breaking through the 200 day ‘moving average’, which is a strong positive signal for sterling. In terms of data, house prices and lending data in the UK disappointed, which serves as a reminder that the UK is not quite out of the woods yet. There is little or no data out today for the UK – call in now for a live exchange rate.

In the Euro zone, German unemployment data came in better than expected, as the level of unemployment dropped by 20,000 – 2,000 more than expected. The euro maintained its relative strength against the pound, keeping sterling from breaking above the 1.20/ £1 barrier. In terms of data, there is German retail sales data and European inflation data alongside Italian unemployment figures. The Euro has had a relatively good week, but many are confused as to why the euro has performed so well, given the issues with sovereign debt in the region. Call in now for a live exchange rate.

In the USA, unemployment claims came in as expected with 457,000 people claiming unemployment benefits last month. With weak US data and relatively strong UK data, some analysts have been predicting prices above $1.57/£1 as the next realistic level. However, this is not expected to last long, as the effects of the long awaited ‘fiscal squeeze’ have yet to be seen and this is likely to impact on the price of the pound moving forward. Out later today, US GDP is the key piece of data and it is expected to show that the pace of the US recovery is slowing. Call in now for a live price to ensure you don’t miss out.

Elsewhere, Australian private credit figures came in worse than expected. This is a natural progression after an aggressive period of interest rate hikes. Analysts point out that an interest rate rise can take 6 months to feed into the economy, and this is clearly the case. Many are expecting that the Australian central bank will shy away from further rate rises for the rest of the year. 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

2010-07-29T09:34:00.001+01:00

EURO/GBP - 1.198
US$/GBP – 1.561
CHF/GBP – 1.646
CAN$/GBP - 1.615
AUS$/GBP – 1.735
NZD/GBP – 2.153
EURO/US$ - 1.302

Sterling breached the $1.56/ £1 barrier as investors ignored downbeat comments from the Bank of England Monetary Policy Committee after a run of better than expected UK data. The pound continued to ride the wave of strong GDP and better than expected retail sales data and this saw investors treat sterling with optimism. Bank of England governor Mervyn King warned that strong second quarter growth data should not mean that monetary policy should tighten up; pointing out that significant risks still face the UK economy and that interest rates could drop further if needed. The pound shrugged off these comments and continued to strengthen against the US dollar after poor data from the USA left investors feeling happier holding sterling. Out today there is key house price data and lending data. Call in now as this could take the edge of the pound’s strong run.

In the Euro zone, the euro weakened against sterling marginally and the pound briefly broke through the 1.20/£1 barrier before falling back off. Data from the euro zone showed that German inflation remained the same at 0.2%. Out later today, the key European data released is German unemployment figures which are expected to show an improvement, but not at the same rate as last month. There is still concern from some analysts that the euro is far too overvalued following the heavily criticized stress tests. Get in touch now to avoid losing out if the pound does jump.

In the USA, the US dollar fell against the pound after data on durable goods orders came in far worse than expected. ‘Durable goods’ orders are orders placed for the manufacture of trains, machines etc. – anything that takes several months to build. It is used as a measure of future growth in the economy, and this month showed a drop of 0.6% when it was expected to rise by 0.6%.The poor figures saw investors move funds into sterling as the UK is increasingly becoming a more attractive investment versus the USA. Get in touch now, as we have already seen further strength this morning from the pound.

Elsewhere, the New Zealand dollar fell against other currencies despite a widely expected interest rate rise, after the Royal Bank of New Zealand governor actively downplayed the recent strength of the NZ dollar and said that further rate rises should not automatically be assumed. Call in 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

2010-07-28T09:36:00.000+01:00

EURO/GBP - 1.197
US$/GBP – 1.558
CHF/GBP – 1.652
CAN$/GBP - 1.608
AUS$/GBP – 1.742
NZD/GBP – 2.133
EURO/US$ - 1.300

Sterling continued to strengthen to a 5 month high against the US dollar after better than expected retail sales data boosted the pound further off the back of last week’s strong GDP data. Sterling hit a high of $1.5570/£1 as better than expected bank earnings data saw investors look to riskier investments away from ‘safe haven’ US dollar holdings. UBS beat profit forecasts and Deutsche bank delivered stronger than expected results after a fall in losses from loans. However, the same appetite for risk that saw the pound strengthen so much against the US dollar kept the pound below 1.20/£1 as the euro is the more ‘riskier’ investment option when compared to sterling. Later today, the Monetary Policy Committee appears before the Treasury Select Committee to present on monetary policy and growth expectations. Some analysts are fearful that given the recent minutes of the Bank’s last meeting, the rhetoric is likely to be negative which could impact sterling. Get in touch now for a live exchange rate.

In the Euro zone, the euro continues to enjoy relatively strong support despite the heavy criticism that the bank stress tests have attracted in recent days. One analyst went so far as to express complete bemusement at the support the euro was seeing, after the methodology behind Friday’s test results has widely been shown to be flawed, and as such, the result that showed only 7 banks need further capital is a huge underestimation of the true situation. Regardless, the euro briefly pushed past 1.30/$1 for the first time since early May. Out later today there is German inflation data. Get in touch now for an exchange rate.

In the USA, consumer confidence fell by more then expected posting a figure of 50.4 against an expectation of 51 in polls. With fiscal and monetary stimulus fading, concerns over the labour market and market concerns over European sovereign debt, the US recovery is seemingly faltering and as a result it is no surprise that confidence fell. This saw investors look to the pound and the US dollar fell off considerably yesterday. Out later today there is data on durable goods orders which gives a good idea of business optimism. Call in now for a live exchange rate.

Elsewhere, the Australian dollar dropped after inflation data came short of what was expected. Prices rose by 0.6% putting the annual inflation rate at 3.1% to the end of June. Economists had been expecting at least a 3.4% increase, and as such this saw interest rate expectations fall and the Australian dollar weaken. Get in touch now for a live price.

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

2010-07-27T09:45:00.000+01:00

EURO/GBP - 1.190
US$/GBP – 1.547
CHF/GBP – 1.632
CAN$/GBP - 1.594
AUS$/GBP – 1.714
NZD/GBP – 2.105
EURO/US$ - 1.300

Sterling hit a 5 month high against the US dollar in early trading this morning, tentatively reaching $1.5530/£1 in early trading as investors looked to target ‘riskier’ trades. Following Friday’s generally benign stress test results for European banks, stock markets rose globally yesterday as appetite for risk grew amongst global investors despite heavy criticism of the tests from many commentators for not going far enough. Sterling has benefited from strong economic data recently and this has seen strength against the US dollar. Many analysts pointed to the fact that the pound is limited in where it can go against the US dollar simply by the sheer performance it has put in over the last week, but there is potential for the pound to strengthen further against the euro. After a very quiet day yesterday on the data front, there is CBI realised sales data out today which is a useful indicator of sales volume/ performance amongst retailers and wholesalers. Call in now for a live exchange rate.

In the Euro zone, the results of the European stress tests on Friday continue to be the main source of trading movement. 91 banks passed and only 7 failed, which has prompted a surge in investor risk appetite, but the manner of the tests has attracted criticism for not delving far enough into the balance sheets of banks which are clearly in trouble. So far today German consumer confidence has showed a mild improvement and later today there is money supply and private loans data. There is scope for significant movement – get in touch now to avoid missing out.

In the USA, the major piece of data was US new home sales which provided a rare ray of light in an otherwise gloomy housing market. The figures showed a jump of 23.6% to an annual rate of 330,000 from a downwardly revised figure of 267,000 units in May. This was the largest percentage jump since May 1980 and has been attributed to the expiry of tax credits in April which saw a record low figure in June. Out later today there is consumer confidence data which is expected to show a mild decline following recent poor data. Call in now to take advantage of the best US dollar prices for 5 months.

Elsewhere, Asian stock markets added 0.6% overnight following the rebound in US home sales data. A measure of Japanese inflation showed a decline of 1% in the year to June, pointing to more deflation, and Australian price data showed a rise of 0.3% following growth in rural goods exports. Ensure you don’t miss out by getting in touch to avoid higher yielding currencies strengthening too far against the pound.

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

2010-07-26T09:45:00.001+01:00

EURO/GBP - 1.196
US$/GBP – 1.547
CHF/GBP – 1.629
CAN$/GBP - 1.602
AUS$/GBP – 1.724
NZD/GBP – 2.118
EURO/US$ - 1.292

Sterling jumped sharply on Friday after stronger than expected economic data saw demand surge for the pound. Sterling jumped by more than 1% against the euro and US dollar after the 1st estimate of 2nd Quarter GDP growth for the UK almost doubled analyst estimates. Most had been expecting a mild improvement of 0.6% - and even then many were skeptical after the last 2 first estimates came in woefully under par. However, when the data showed that the UK economy had grown by 1.1%, many investors started to bet that the Bank of England would start raising interest rates sooner than expected. On the other hand, with many economic headwinds to come, this could be the best growth we see for some time as the government slashes spending over the coming months. Elsewhere on Friday, data showed that mortgage approvals in the UK fell by 8% on the June before. There is not much on the horizon this week with the exception of a speech from Mervyn King on Wednesday. Get in touch now for a live exchange rate.

In the euro zone, the major news on Friday was the release of the European bank stress tests. The tests – where the European Central Bank ran hypothetical scenarios to see the effect on bank balance sheets – were failed by several banks in the region. 7 banks need to raise a combined 3.5bn in capital to shore up the ailing balance sheets. However, many (including the Financial Times) have been heavily critical of the exercise, which did not go far enough. One major flaw in the tests was that the scrutiny only fell on the ‘trading book’ and not the overall debt picture. In addition, the figure of 3.5bn was seen as far too low given the rather shocking state of debt in the region. The result of Friday’s exercise has been that any upside for the euro has been cancelled out, and sentiment has fallen for the single currency. Call in now for a live price.

In the USA, following the stronger than expected UK GDP data, the US dollar weakened against the pound. Ahead this week there is US GDP data released on Friday, unemployment and consumer confidence data. On the horizon, a Bloomberg report has hinted at potential issues facing China as they face the repayment of a $1.1 trillion loan. The report hints that revenues are failing to appear in the country and as such they may face a shortfall of 23%. Watch this space to see how this develops. Get in touch now for a live exchange rate.

Elsewhere, the Australian and New Zealand dollars strengthened overnight for a third consecutive trading day as Asian stocks strengthened as sentiment suggests that the global recovery may be stabilising. This in turn led to a surge in demand for higher yielding currencies. 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

2010-07-22T09:41:00.000+01:00

EURO/GBP - 1.187
US$/GBP – 1.521
CHF/GBP – 1.587
CAN$/GBP - 1.589
AUS$/GBP – 1.725
EURO/US$ - 1.281

Sterling fell yesterday after the minutes from the Bank of England’s latest policy meeting on interest rates showed a dampened outlook for growth. As a whole, there was a lack of confidence from the policy makers as further quantitative easing (injection of money into the economy) was discussed. Despite a general agreement that inflation would stay stubbornly high, the committee felt that the outlook for growth was poor. Against the US dollar, the pound slipped back below $1.52/ £1 and despite a strong start against the euro, the pound fell back below 1.19/ £1. One member – Andrew Sentance – yet again called for a 0.25% rise in interest rates, and some analysts expected that he would be joined by another member calling for increased rates. However, the vote showed that all 7 other members voted for rates (and the emergency funding programme) to be kept on hold for another month. Out tomorrow, there is monthly retail sales data which is expected to show a 0.5% rise. However, this could see an unexpected World Cup related boost. Call in now for a live exchange rate, as rates are likely to be volatile ahead of the GDP figures which are released on Friday.

In the Euro zone, the euro weakened in early trading against both the US dollar and sterling as a bond auction in Portugal was surprisingly undersubscribed. The lower than expected demand saw yields on the bonds jump sharply, which caused investors to sell the euro, as low demand for government debt spooked investors. After the Bank of England minutes were released, the euro recovered against the pound. There was no real data released today in the Euro zone, but tomorrow sees a raft of purchasing manager data and industrial manufacturing data which is expected to show a mild decline. Get in touch now for a live exchange rate and to ensure that you don’t miss out.

In the USA, the US dollar strengthened yesterday as strong earnings data from the US stock markets helped drive demand for the US currency. iPhone makers Apple announced stronger than expected earnings and an upbeat earnings forecast, and several other companies also posted strong results. However, concerns over Fed Chairman Ben Bernanke’s half-yearly monetary policy speech to the US Senate tempered the dollar’s rally as investors were concerned that the recent poor data would impact on monetary policy and see the Chairman go back on the exit strategy he had outlined earlier in the year. Out today, there is unemployment claims data and existing homes sales data. Get in touch now for a live price.

Elsewhere, New Zealand consumer confidence fell by 5% for the second month to hit the lowest level since August 2009 and Australian business confidence dropped to the lowest level in a year in the second quarter. Call in 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

2010-07-21T10:04:00.000+01:00

EURO/GBP - 1.188
US$/GBP – 1.528
CHF/GBP – 1.607
CAN$/GBP - 1.584
AUS$/GBP – 1.729
EURO/US$ - 1.286

Sterling recovered from Monday’s losses yesterday as concerns over European bank stress tests saw investors taking profit from the stronger euro. Despite starting the day poorly after data on UK public finances came in worse than expected, the pound recovered against the euro and US dollar breaking back above 1.18/£1 and $1.5250/£1. Yesterday morning, data showed that the UK government was borrowing nearly £1.5bn more than expected. This was disappointing for many, who had expected the budget and spending cuts to have had an immediate impact. Falling share prices in the euro zone saw many investors take profit from the euro ahead of stress test results on Friday. This helped the pound recover against the euro. The key data out today is the minutes from the Bank of England’s recent interest rate policy meeting. It is again expected to show that only one member (Andrew Sentance) argued for an interest rate rise – if any more members join him, we could see strength from the pound. Call in now for a live price.

In the Euro zone, the results of this week’s bank stress testing are released on Friday and have been the source of most of the euro’s movement this week. Tumbling stock markets in the region yesterday afternoon dented sentiment and prompted many investors to pull out of euro positions in case Friday’s results were worse than expected. German purchasing manager data showed an improvement – coming in at 0.6% against an expected improvement of 0.2%. There is little data out today, as the pound takes centre stage related to the Bank of England minutes – call in now for a live price.

In the USA, the big news so far this morning was the sudden 1 ½ cent drop of sterling against the US dollar in early morning trading. However, this has been put down to a trading error (or ‘fat finger trade’) by a Dutch bank and the pound has already recovered ground. The major news out today is Federal Reserve Chairman Ben Bernanke’s presentation of the half yearly monetary policy report to the US senate. The US economy appears to be losing momentum, so today’s speech will be key. Get in touch now for a live exchange rate.

Elsewhere, a gauge of economic performance over the last 6-9 months in Australia has slowed for the second consecutive period. The Westpac Leading Index appeared to show a peak, but the data is still strong and shows significant growth despite falling off. The Japanese yen rose overnight, as traders took up defensive positions in the ‘safe haven’ currency ahead of a lot of risky data releases for the rest of the week. 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

2010-07-20T09:51:00.001+01:00

EURO/GBP - 1.177
US$/GBP – 1.529
CHF/GBP – 1.608
CAN$/GBP - 1.605
AUS$/GBP – 1.737
EURO/US$ - 1.298

Sterling fell yesterday against the euro to hit a 7 week low against the euro as higher demand for the single currency saw investors cut short positions in the currency – particularly against the pound. Sterling hit a low of 1.1724/ £1, as a quiet day for UK data releases left investors trading on European news. Rumours circulated over the weekend that China is looking to bolster its foreign currency reserves with large amounts of euros and a large buy order in early trading saw many investors jump on the euro band wagon. Despite comments over the weekend from Andrew Sentance (a Bank of England policymaker) in which he reiterated his comments that the UK needed to raise interest rates sooner rather than later, traders preferred to wait until the Bank of England’s minutes from this month’s meeting are released on Wednesday. That release, alongside the GDP first estimate on Friday, forms the only significant data this week. Get in touch now to avoid missing out.

In the Euro zone, despite trade balance data unexpectedly showing a widening in the trade deficit, the euro had a bumper day. Initially, the euro weakened after rating agency Moody’s cut Ireland’s credit rating by one level citing a ‘significant loss of financial strength’. However, optimism over the results of European bank stress testing (the results of which are released on Friday) helped drive the euro forward. Out today there is purchasing manager’s data for Germany. Call in now for a live price and to ensure that you don’t miss out.

In the USA, the US dollar fell against the euro following the optimism over the stress testing. However, the euro levelled out as many analysts are concerned that the results will show that the region needs more help. In addition, the US economy’s poor run of data continued, with a key piece of data on the housing market coming in lower than expected. The NAHB/ Wells Fargo Housing Index fell to the lowest level since April 2009. There is building permit data released tomorrow which should give a further idea of the state of the US property market. Call in now for a live exchange rate.

Elsewhere, minutes from the reserve bank of Australia’s recent meeting were positive. The bank saw signs that private demand was growing and also argued that some moderation in demand in Asia would be positive for the Australian economy. Call in 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

2010-07-19T10:05:00.001+01:00

EURO/GBP - 1.181
US$/GBP – 1.532
CHF/GBP – 1.603
CAN$/GBP - 1.610
AUS$/GBP – 1.758
EURO/US$ - 1.297

Sterling fell on Friday, hitting the lowest level against the euro since June 1st as strong European stock markets helped drive demand for the single currency. Strong corporate earnings from the USA have also helped drive demand for higher risk currencies. Given the concerns over sovereign debt in the region, the euro is perceived as one of the highest risk currencies, and as such, saw a surge in value on Friday as investors bought in. The euro’s strength also helped pull the pound away from the 2½ month highs against the US dollar, but the pound’s losses were limited against the US currency after it closed above a key technical level on Thursday. The start to the week is fairly quiet ahead of key data later in the week. Friday sees the 1st estimate for 2nd Quarter GDP alongside monthly retail sales data released on Thursday. The market is likely to move in relation to expectations over the GDP figure – call in now to ensure you get the very best rate.

In the Euro zone, the single currency strengthened on Friday, retracing some of the ground lost between March and June against both the US dollar and sterling. One of the major drivers behind Friday’s strength was the recent rise in bank-to-bank cash lending rates, which saw European stock markets rise. The big event this week in Europe is the long awaited stress tests of European banks. Stress tests are where the banks run theoretical scenarios to ensure that they have enough capital to avoid collapse. Get in touch now to ensure that you don’t miss out - especially if you are moving euros into sterling.

In the USA, the US dollar continued its decline last week, with recent sluggish data raising concerns that the US recovery is slackening. A fall in wholesale prices for June and poor manufacturing data added to the US dollar’s woes. This contrasted sharply with UK data last week which showed a sharp fall in the number of people claiming unemployment in June. The pound also benefitted after closing above a key technical (i.e. mathematical figure on the chart) level on Thursday. It is a quiet week in the USA as well, aside from Ben Bernanke addressing the Senate on Wednesday. Call in now for a live price.

Elsewhere, overnight, the Australian and New Zealand dollars fell as Asian stock markets underperformed following worse than expected earnings data from some US banks on Friday. Call in 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

2010-07-16T09:46:00.001+01:00

EURO/GBP - 1.192
US$/GBP – 1.542
CHF/GBP – 1.607
CAN$/GBP - 1.608
AUS$/GBP – 1.761
EURO/US$ - 1.293

Sterling continued its rally against the US dollar yesterday, hitting a 2½ month high of $1.5393 as risk appetite helped drive demand for the pound. Data in the UK was fairly thin on the ground and the movement was driven by strong data out of the USA. In addition, key ‘technical’ (i.e. mathematical analysis of exchange rate graphs) levels were breached – notably $1.5310/ £1 which has been a technical resistance point versus the November 2009 high of $1.6880/ £1. Breaking this barrier opened the door (from a technical perspective) for the pound to keep going towards $1.55/£1. In terms of fundamental data, there is little out today, but investors and traders are waiting for the first estimate of 2nd Quarter GDP for the UK – out next week. This should provide the impetus to push volatility and see the pound shoot up or drop back down. Get in touch now to ensure you don’t miss out on decent rates.

In the Euro zone, poor sentiment towards the region eased as the Spanish government experienced better than expected demand for 15 year bonds. This saw the euro strengthen against sterling after the pound started the morning strongly above 1.20/£1. However, the pound’s early gains were short lived but one analyst felt that there is potential for the pound to strengthen further against the euro over the coming year. Get in touch now – especially if moving euros into sterling, as the current rate feels too low to last much longer.

In the USA, with corporate earnings season well under way, JP Morgan’s earnings per share came in far better than expected. In addition, unemployment claims fell by more than expected with 429,000 people claiming unemployment benefits – a drop of nearly 20,000 on last month. This positive data drove a wave of risk appetite that saw investors move from US dollars into the ‘riskier’ assets of the pound and euro. So far this morning, we have seen this risk appetite drive the pound over $1.54/ £1. It seems set for $1.55/ £1 – call in now for a live price.

Elsewhere, the New Zealand Consumer Price Index rose 0.3% from the 1st Quarter to the 2nd Quarter. That was below the expected 0.4% rise, and 1.3% rise in the previous period. New Zealand consumer inflation has been relatively poor, with prices up 1.8% year-over-year. Lower inflation means less urgency for rate hikes, which is in itself is not great news for the NZ dollar. Get in touch now for a live price.

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

2010-07-15T09:56:00.001+01:00

EURO/GBP - 1.199
US$/GBP – 1.531
CHF/GBP – 1.606
CAN$/GBP - 1.581
AUS$/GBP – 1.740

Sterling hit a 2 month high against the US dollar yesterday as UK jobs data came in better than expected. The number of people claiming unemployment fell by more than expected, showing a fall of 20,800 people against an expectation of 20,0000. In addition, the rate of unemployment fell from 7.9% to 7.8% driven by a record boost in part time employment. The data was the catalyst to see sterling jump by nearly 1% to nearly $1.53/ £1 - the highest rate in 2 months. Concerns over the banking sector held sterling back, as the FTSE 100 traded down 0.4%. Against the euro, the pound gained marginally to trade back above the 1.20/ £1 level. However, movement between sterling and the euro has been fairly limited this week with most off the volatility coming against the US dollar. In terms of data, there is little out today in the UK so get in touch to ensure you take advantage of the strong US dollar price.

In the euro zone, inflation figures came in as expected with year on year CPI inflation showing 1.4% the ‘core’ CPI showing 0.9% - both of which had been widely predicted. Month on month industrial production underperformed however, posting 0.9% growth against an expectation of 1.2%. Despite holding at around 1.20/ £1 for the last few days, analysts are still expecting the euro to weaken against sterling but this is reliant on the Bank of England raising interest rates or at least ending the asset purchase programme, which is still on pause. Sovereign debt is still a concern, but seems to have taken a back seat. It is not lurking far below the surface though – call in now to ensure you buy at the right time.

In the USA, monthly retail sales figures improved, but by a lot less than was expected. Sales fell by 0.5%, but were expected to decline by 0.2%. Import prices also declined by 1.3% - all of which added to the US dollar’s decline against the pound. Out later today, producer prices are expected to decline alongside CPI inflation data which is expected to show a similar decline as inflationary pressures remain low. There is an expectation that the US labour market figures out today will continue to show a gradual improvement. Call in now for a live exchange rate.

Elsewhere, China announced lower than expected GDP data for the 2nd quarter and also lower inflation figures. The Chinese government has been actively trying to cool the economy, and the figures suggest that their efforts have been successful. As a result, risk appetite got a boost, as traders speculated that tight restrictions on bank lending would be eased. Call in now, as the commodity based currencies have yet to take stock of this new development.

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

2010-07-14T10:20:00.000+01:00

EURO/GBP - 1.198
US$/GBP – 1.525
CHF/GBP – 1.613
CAN$/GBP - 1.573
AUS$/GBP – 1.726

Sterling rose yesterday against the US dollar after inflation data remained above the Bank of England’s target rate. The CPI year on year inflation figure fell from 3.4% for May to 3.2% for June. The Bank’s target rate is 2.0%, and many investors felt that yesterday’s figures showed that inflation is stubbornly high and may prompt the Bank of England to raise interest rates earlier than predicted. Many currently expect this to start happening in the second quarter of next year, but the figures yesterday meant there was speculation that this could happen sooner. As a result the pound recovered by nearly 1% on the previous day, hitting a high of $1.5258/ £1 in early trading this morning – recovering from $1.4949/ £1 on Monday. Out today there is claimant count unemployment data for the UK, which is expected to show a drop of 20,000 and a more inclusive measure of employment is likely to show little growth in the sector. Call in now to ensure you are not losing out to the current volatility.

In the Euro zone, data released yesterday showed that economic confidence fell in Germany. The ZEW economic sentiment survey is a key measure of European sentiment as a whole, and it showed a worse than expected drop from 28.7 to 21.2. Overall though, the euro has taken a slight backseat this week against key data from the UK, and the euro held its ground against the pound – maintaining a price below 1.20/£1. Out later today we have inflation and industrial production data for the euro zone. Call in now to make sure you don’t miss out.

In the USA, retail sales for June are expected to show a small monthly rise. Retail sales fell by 1% in May, and the trade balance unexpectedly worsened as data out yesterday showed that the deficit had widened by $2.3bn. Get in touch now for a live exchange rate.

Elsewhere, New Zealand’s retail sales slumped by 0.2% in June – far less than the expected 0.6% upturn and marking the second month’s consecutive decline. Australian consumer confidence jumped by 11.1% - the most in 13 months – presumably related to the ousting of former Prime Minister Kevin Rudd. Call in now for a live exchange rate and to effectively plan your next payment.

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

2010-07-13T09:46:00.000+01:00

EURO/GBP - 1.196
US$/GBP – 1.499
CHF/GBP – 1.594
CAN$/GBP - 1.553
AUS$/GBP – 1.721

Sterling fell against the US dollar on Monday after concerns resurfaced over the UK’s triple A credit rating. Standard & Poor’s said it was maintaining the negative outlook on Britain’s economy as the challenging spending cuts announced in the recent emergency budget have yet to be made and the economy may not grow as fast as the government has predicted. Despite the recent budget announcement, the government has yet to implement the required spending cuts and this is what concerns the credit rating agency. Elsewhere, GDP for the 1st Quarter remained unchanged at 0.3% and the current account deficit unexpectedly jumped by £5bn. The key data today is the UK inflation figures, which are likely to show a decline from last month’s annual rate of 3.4% - reflecting the spare capacity of the economy. Mervyn King has been saying for some time that inflation will fall off through the year – justifying his decision to keep interest rates and the asset purchase programme on hold. Call in now for a live exchange rate.

In the Euro zone, news has just been announced that Portugal’s credit rating has been downgraded. This reflects the ongoing concerns over sovereign debt in the region, and yesterday saw the euro give back gains to the US dollar and pound on concerns on what bank ‘stress testing’ would uncover. Recent euro strength – against sterling and US dollar – has been seen as a reflection of weakening prospects in the UK and the USA and not as a reflection of any reduction in the issues surrounding sovereign debt in the region. Out today, there is economic sentiment data released. Call in now for a live exchange rate.

In the USA, the US dollar gave back some of the gains made against the pound. However, the US dollar is still holding firm below the $1.50/ £1 level – currently trading at $1.4990/ £1. Out later today there is trade balance data which is expected to show a narrowing in the trade deficit. Call in now to make sure you buy at the best price.

Elsewhere, the New Zealand dollar benefited overnight and was the best performing currency against the US dollar after speculation over interest rate hikes saw investor expectations increase. A survey showed that many are expecting a rise of 130 basis points – up from 118 points the other week. Higher interest rates mean better returns for investors, therefore demand increases for the currency and it strengthens. Call in 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

2010-07-12T10:01:00.000+01:00

EURO/GBP - 1.190
US$/GBP – 1.497
CHF/GBP – 1.595
CAN$/GBP - 1.545
AUS$/GBP – 1.717

Sterling slipped against the USD dollar and euro on Friday as the post-election and budget rally seems to be coming to an end. After hitting $1.5141/ £1 on Thursday – the highest level since May – the pound is now trading at $1.4970/ £1. Data showed that factory gate inflation slowed more than expected, suggesting that the recent rise in prices may indeed be temporary as the Bank of England had predicted. Since the election and the emergency budget, the pound has performed well as investors feel that there is a clear plan in place to clear the deficit. However, it now seems clear that this will come at the cost of slow growth and as such sterling has begun to retrace gains seen recently. Out today, the focus is on final GDP figures for the 1st quarter, which is expected to remain at 0.3%. Out next week, there is the 1st estimate for 2nd Quarter GDP which is estimated at 0.7% by many. Get in touch now to ensure you buy at the right price.

In the Euro zone, there are likely to be some sore heads and very little economic activity in Spain today following last night’s football success. The euro fell 0.3% in overnight trade against the US dollar as the single currency gave back gains made last week. The euro has strengthened against the pound and is currently trading around the 1.19/ £1 level. Confidence in the euro zone seems to be creeping back in after ECB Bank President Jean-Claude Trichet pledged to take the necessary steps to deliver price stability. However, there is still a high possibility that the euro will lose ground again versus the pound. European finance ministers meet today in Brussels. Call in now for a live price.

In the USA, today marks the start of US ‘earnings season’ – when US companies release financial earnings data to the financial markets. With US data taking a notable turn for the worse over the last few months, many companies could trim their profit expectations. With the world taking the lead from the US economy, the next few weeks could see some interesting swings in sentiment and volatility on the currency markets. Federal Reserve Chairman Ben Bernanke speaks later today. Get in touch now to avoid missing out.

Elsewhere, Australian home loans to owner-occupiers rose 1.9% in May – the first increase since September 2009. The value of loans declined a bit, but overall the data was positive – especially following last week’s better than expected jobs report. The Australian dollar is strengthening – call in now if you have any payments to make, and 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

2010-07-09T09:41:00.000+01:00

EURO/GBP - 1.195
US$/GBP – 1.518
CHF/GBP – 1.599
CAN$/GBP - 1.583
AUS$/GBP – 1.733

Sterling fell yesterday against the US dollar and euro as mixed economic data triggered a sell off of sterling positions. Despite hitting a 2 month high of $1.5241/ £1 – the highest since early May – the pound struggled to make ground. This happened despite data showing a larger than expected rise in industrial production. However, house prices fell and the Bank of England kept the interest base rate and quantitative easing programme on hold as expected. It was revealed a few weeks ago that Bank of England member Andrew Sentence had voted for an increase in interest rates at the last meeting. We will need to wait for 2 weeks until the minutes of yesterday’s meeting are released to see whether any other members of the Bank of England followed suit. Out later today there is monthly PPI data and trade balance data which is expected to show a slight contraction in the UK’s trade deficit. Call in now for a live exchange rate.

In the Euro zone, Germany’s trade surplus shrank by 3bn and the European Central Bank kept rates on hold at 1%. The press conference comments by bank president Jean-Claude Trichet helped boost the euro to above $1.27/1 for the first time since May. The bank president stated that he felt that the recovery was well under well and details over the proposed ‘stress tests’ of government and bank debt helped push the currency higher. The euro pushed below 1.20/ £1 as a result. Out later today, there is Italian and French industrial production data and German PPI purchasing data. Call in for a live exchange rate.

In the USA, initial claims for unemployment benefits fell to 454,000 from 475,000 the week before. This was much better than expected and helped boost the US dollar against most of its counterparts and saw US government bond yields rise (a sign that investors are looking for riskier assets to invest in). In other news, the US administration pledged to monitor the Chinese yuan exchange rate, to ensure that China is living up to its commitments to help rebalance the global economy. Call in now to ensure you get the best exchange rate.

Elsewhere, the Australian dollar is on track for the biggest weekly gain in 9 months as signs that the global economic recovery is intact boosted demand for higher yielding currencies. The NZ dollar also gained. Get in touch now especially if you need to buy AUS dollars, as the price is getting significantly worse. Have a fantastic weekend!

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

2010-07-08T10:00:00.001+01:00

EURO/GBP - 1.199
US$/GBP – 1.517
CHF/GBP – 1.600
CAN$/GBP - 1.587
AUS$/GBP – 1.736

Sterling had a good day yesterday, recovering lost ground against the US dollar and euro as a recovery in UK shares on the FTSE stock market helped ease concerns over the fragility of the economy. Data on UK jobs growth was relatively poor and this put a cap on the strengthening pound. Against the euro, the pound was broadly stronger but sterling seems to have lost the post-budget momentum as gains related to sentiment have given way to concerns that the tax hikes and spending cuts will dampen growth and harm the UK recovery. Many analysts are concerned that the government will struggle to effectively implement the spending cuts, with industrial action being a potential stumbling block. Despite these concerns, the pound has strengthened this morning to a 2 month high against the US dollar as sentiment towards the Euro zone improves and investors look to ‘riskier’ assets in the UK and Euro zone. The big event today is the Bank of England interest rate decision. The rate is expected to stay the same and the emergency funding is likely to remain on hold. However, if this does change, there will be considerable volatility. Call in now for a live exchange rate.

In the Euro zone, final GDP for the quarter came in as expected at 0.2%. There was however slightly poor data in the form of the French trade balance whereby the deficit increased by 1.5bn. In addition, against an expected increase of 0.5%, German factory orders fell by 0.5%. Out today there is data on the German trade balance and also a press conference by the European Central Bank following the interest rate decision – the press conference is normally fairly scripted, but the ‘free questions’ can sometimes prompt volatility if there are any controversial statements. Get in touch now for a live exchange rate.

In the USA, there was a lack of data released in the region yesterday, and the US dollar traded on sentiment. Similarly today, there is very little relevant data as the US dollar takes a back seat ahead of a busy set of data from the UK and Euro zone. Already this morning, the US dollar has given away ground to other currencies on risk sentiment movements. Get in touch now to avoid missing out on the best rates.

Elsewhere, Australian employment figures surprised many with the economy adding 45,900 jobs in June – easily beating the 15,000 estimate. The rate of unemployment for May was also revised downwards. This saw the Australian dollar strengthen against all other major counterparts as increased employment boosted expectations for higher inflation. Call in 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

2010-07-07T10:06:00.002+01:00

EURO/GBP - 1.200
US$/GBP – 1.508
CHF/GBP – 1.603
CAN$/GBP - 1.599
AUS$/GBP – 1.783

Sterling rose overall against the US dollar but fell against the euro as investors bought riskier investment assets as concerns eased over the global recession. Sterling jumped above $1.52/£1 in early trading as data in the USA came in worse than expected. This left sterling within spitting distance of Friday’s 9 week high of $1.5230 and prompted some analysts to suggest that there is scope for the pound to strengthen towards $1.55/ £1 if the conditions allow it, however this is likely to take some time. The pound fell to 1.1990/ £1 as improved sentiment towards the euro saw investors moving funds into riskier investments in the region. This morning however, data showing a decline in jobs growth has seen the pound lose ground again and in addition, the UK Shop price index has shown a decline in the growth of retail inflation for June. Out later today there is Halifax house price survey data which has been rescheduled to be released today. This data can cause volatility – especially as housing data has disappointed recently. Call in now for a price.

In the Euro zone, there was little data out in the region yesterday, and the euro traded on improved sentiment following better than expected data last week. The single currency gained against both the pound and the US dollar hitting $1.2630/ 1 and strengthening below the 1.20/ £1 for the first time in several days. The euro’s strength has come as investors moved to close short positions that were in place ahead of last week’s Spanish bond issues and 442bn loan facility, as these were expected to cause the euro to perform badly. However, those events passed by without any issues, and investors have needed to buy back euros to avoid losing money – causing strength. Out today, there is final GDP data for the region, which is expected to remain unchanged at 0.2%. In addition, there is German factory order data for the month which is expected to show a decline on last month.

In the USA, yesterday saw the US dollar decline as global risk appetite improved after concerns over the recovery eased. US stock markets were up 2.8% by late afternoon which prompted investors to move funds to ‘higher risk’ currencies – including the euro, pound and ‘commodity’ currencies such as the AUS dollar. However, since opening this morning, the US dollar has recovered ground as stock markets fell overnight following poor US service sector growth. Out later today there is very little data so expect the US dollar to trade on sentiment. Call in now for a live exchange rate.

Elsewhere, data showed that activity in the Australian construction sector fell for the first time in 6 months, after a sharp drop in private construction. This is likely to be as a result of the aggressive interest rate hikes that have seen 1.5% of interest rate hikes added to borrowing costs between September 2009 and May of this year. With markets very volatile, 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

2010-07-06T09:44:00.000+01:00

EURO/GBP - 1.206
US$/GBP – 1.517
CHF/GBP – 1.611
CAN$/GBP - 1.609
AUS$/GBP – 1.791

The pound fell yesterday after weaker than expected data on UK services sector activity highlighted the fragile state of the country’s recovery. This saw many investors booking in profits after the pound’s late rally against the US dollar at the end of last week. The measure of PMI service sector activity showed a drop form 55.4 to 54.4 due to subdued business confidence and a record drop in confidence. As a result, sterling slumped from a daily high of $1.52/ £1 to hold above $1.50/£1 and against the euro the pound traded in a fairly narrow range between 1.2050/ £1 and 1.21/£1. Out today, there is house price data for the month which is expected to show a slight increase in prices. However, the last few sets of results have disappointed and caused the pound to weaken. Call in now to ensure that you don’t lose out due to negative movements.

In the Euro zone, the euro took advantage of the dip in service sector activity to gain 0.3% against the pound but the single currency fell marginally against the US dollar, ending the day down 0.2% after concerns that the European Central Bank will keep interest rates at a record low as efforts to trim national budgets is hampering regional growth in Europe. Many analysts feel that the European economy does not warrant interest rate hikes for the considerable future and as such, the euro fell. PMI data came in as expected and investor confidence increased by more than was expected with a drop of -1.3% on the month versus an expected drop of -4.5%. Out later today, there is no real data for the Euro zone, so expect the currency to trade on general sentiment.

In the USA, with the markets closed for the Independence day weekend, there was no economic data released and as such quite limited movement as there was fewer places that banks could buy currency from each other. Out today, there is PMI purchasing manager’s data that excludes manufacturing. Including this data with the fact that the markets have been shut for 3 days could see a large amount of volatility. Get in touch now to avoid missing out.

Elsewhere, the Reserve Bank of Australia has held the latest monetary policy meeting and decided to keep interest rates on hold at 4.5%. This was largely expected by the financial markets, but as a result, the Australian dollar did strengthen marginally. Get in touch 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

2010-07-05T09:37:00.001+01:00

EURO/GBP - 1.210
US$/GBP – 1.517
CHF/GBP – 1.613
CAN$/GBP - 1.611
AUS$/GBP – 1.801

Sterling hit a month high of $1.5230/ £1 – the strongest since early May – after US Non-Farm payroll data came in far worse than expected and investors dumped the US dollar in favour of sterling. Following the drastic first budget of the new UK coalition government, the pound has taken advantage after a string of lacklustre US data with many analysts feeling better about the UK’s chances of cutting the deficit. Overall the pound finished up 1% against the US dollar, and despite barely holding above 1.20/£1 for most of Friday after the euro performed well, the pound staged a late rally and closed just shy of 1.21/£1. Out later today there is house price data for the UK and also services PMI data that is expected to show a slight decline. Get in touch now for a live price to ensure that you do not lose out on the best exchange rates.

In the Euro zone, the euro strengthened this week against both the US dollar and sterling after concerns over the liquidity and funding of many European banks turned out to be less of a problem than expected. Higher than expected demand for Spanish bonds and lower than expected demand for European Central Bank emergency funding helped stem concerns over the state of the region as a whole. In terms of data, there is final services PMI data and also monthly retail sales data. Call in now for a live exchange rate.

In the USA, the US dollar had a traumatic day after US Non-Farm payroll (seasonally adjusted unemployment data) showed a far worse fall in jobs in the region than was initially expected. Data showed a drop of 125,000 versus last month’s gain of 433,000. This followed a string of poor data from the US over the last few weeks that has prompted fears that the US recovery is faltering. There had been expectations at the start of the year that there would be an interest rate rise by the 3rd Quarter of this year. However, as it stands this looks less and less likely. This is the reason for the poor performance by the US dollar of late. The US markets are closed today for the 4th July holiday, so no data is being released. Call in today for a live exchange rate to ensure you are accurately forecasting for your upcoming payments.

Elsewhere, the Australian dollar rose after Asian stock markets gained and reports showed that the Australian labour market was improving. Data out this week is expected to show that employment increased for a fourth month. Get in touch now for a live exchange rate and to avoid losing out on poor exchange rates.

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

2010-07-02T10:06:00.000+01:00

EURO/GBP - 1.213
US$/GBP – 1.516
CHF/GBP – 1.620
CAN$/GBP - 1.609
AUS$/GBP – 1.791

Sterling jumped to an 8 week high yesterday against the US dollar of $1.5144/£1 as the dollar fell due to poor manufacturing, housing and employment data. The pound started the day poorly after lower than expected Chinese manufacturing data cast doubts over the global recovery. UK manufacturing data showed a drop from 58.0 to 57.5 which added to sterling’s woes. However, the pound rallied by over 1% against the US dollar after a similar measure of manufacturing activity in the USA showed the sharpest drop since December 2009. In addition, poor housing sales data added to the dollar’s problems. Against the euro, the pound weakened after concerns over European sovereign debt eased. In terms of data, there is construction PMI data out in the UK today which is expected to show a small improvement. With a lot of volatility, yesterday was a classic example of why it is so important to speak to a currency specialist sooner rather than later in order to take advantage of large upswings and avoid buying at the bottom of the market. Call in now for an up to date assessment of where things are heading for the pound.

In the Euro zone, the euro recovered after a poor start to the week. It was down earlier in the week as financial markets closely followed the repayment of 440bn worth of emergency loans paid out to banks, but in the end the repayment date passed without a hitch. Credit rating agency Moody’s had added to the euro’s woes as it downgraded the outlook for Spanish government debt. However, these concerns were eased after a Spanish bond auction for 3.5bn worth of bonds was well received by the financial markets – very much going against what had been expected, especially in light of Moody’s downbeat assessment of the situation. Out later today there is unemployment data and PPI data for the region – both of which have the potential to move the market. Get in touch now for a live exchange rate.

In the USA, following an expiry of tax credits for property buyers, pending home sales dropped by 30% in May and the ISM manufacturing index fell from 59.7 to 56.2 – the biggest fall in activity since December 2009. The big event of the day though is the US Non-Farm payroll data – out later this afternoon. Most analysts are expecting a fall of over 100,000 jobs on the month, and this data generally sets the tone for the following week’s sentiment for both the US economy and the global recovery as a whole. Get in touch now to ensure you don’t fall victim to adverse market movements.

Elsewhere, the Australian dollar gained overnight after the new Prime Minister Julia Gillard reached an agreement with mining companies over the proposed super tax that was the downfall of the outgoing Premier Kevin Rudd. Call in now for a live price, as the higher yielding currencies have been particularly volatile of the last week as risk appetite/ aversion drives relatively wild swings in the 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

2010-07-01T09:32:00.000+01:00

EURO/GBP - 1.216
US$/GBP – 1.490
CHF/GBP – 1.598
CAN$/GBP - 1.588
AUS$/GBP – 1.783

Sterling had a poor day today, falling back below $1.50/ £1 against the US dollar and dropping by over 1% against the euro back below 1.22/ £1. The reason for sterling’s poor performance was mainly down to the fact that the pound has performed so well over the last few days – especially against the euro. As a result, many speculators that had been betting on sterling strength decided to lock in their profits, which saw funds flow back out of sterling and saw sterling fall. In addition, the pound was hit by weaker than expected housing figures which showed that prices rose by a mere 0.1% on the month. Bank of England policy maker Adam Posen added to the pound’s woes as he issued a warning over the UK economy’s fragility – in stark contrast to his colleague’s rather ‘hawkish’ comments (i.e. arguing for interest rate rises). There is a lot of volatility – speak to a trader now about how Order to Buys can help you target specific rates throughout the day and overnight.

In the Euro zone, concerns eased slightly over debt problems in the region as there was lower than expected demand for an allotment of European central bank funds. This was good news, as there have been concerns that banks were having difficulties meeting their short term obligations. However, many analysts are still expecting yesterday’s euro rally to be short lived as the currency carries far more risk than the pound. In terms of data, there is euro zone PMI manufacturing data which is expected to stay roughly the same. Get in touch now to ensure that you don’t miss out on the best exchange rate.

In the USA, the S&P 500 stock market dropped below a key level of 1,040 with expectations that this will drop further towards 1,015. This drop cemented the worst quarterly performance for over a year and has seen the US dollar strengthen as investors move towards the safer haven assets of the US dollar. ADP unemployment data was worse than expected. There is further unemployment data out today which will give a better picture in the run up to tomorrow’s Non-Farm payroll. Call in now for a price, as we could see the US dollar gain further.

Elsewhere, overnight the Australian and New Zealand dollars fell as risk aversion caused by the S&P 500 drop saw investors move away from the riskier higher yield commodity currencies. Data also showed that the pace of industrial sector activity also slowed. Call in now to ensure that 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

2010-06-30T10:04:00.000+01:00

EURO/GBP - 1.230
US$/GBP – 1.503
CHF/GBP – 1.626
CAN$/GBP - 1.578
AUS$/GBP – 1.761

Sterling hit a 19 month high against the euro yesterday as investors deserted the euro ahead of bank repayments to the European Central Bank. The pound hit 1.2380 as a key deadline looms on Thursday for the repayment of loans made to banks in the Euro zone. Sterling was also supported after the launch of a 30 year gilt (UK government bond) was received well by financial markets. Lending data released yesterday showed that net lending to individuals had increased to £1.5bn but final mortgage approvals fell slightly. Today, we have seen house price data show prices rise by a mediocre 0.1% month on month against an expectation of 0.3%. Despite the wave of positivity that has followed the budget, there are still several issues that need addressing in the UK, and these figures are showing that there is potential for another housing slump. Call in now to avoid missing out on the best rates.

In the Euro zone, sentiment towards the region has taken another punishment as concerns over liquidity in the Euro zone have left investors concerned. On Thursday, a 442bn lending facility from the European Central Bank expires. This has prompted overnight lending rates to increase and widening gaps between government bond spreads. We will have to see what happens over the next few days. Out today, we have seen German unemployment data for June which has shown a rise of 21,000 – worse than expected. Later on today, there is inflation data for the Euro zone. Get in touch now to ensure you do not miss out.

In the USA, with a fairly quiet week so far on the economic calendar, the big news was that consumer confidence fell on the month. A lot of data in the US has suggested that the US recovery is stalling somewhat so a decline in confidence did not come as too much of a surprise. Out later today, there is ADP Non-Farm employment change – the precursor to the main Non-Farm Payroll data and a figure that gives a good indicator of Friday’s figure. Call in now for a live exchange rate and to ensure that you don’t miss out on the best price.

Elsewhere, Australian private sector credit and loans to buy houses increased yet again and beat economists’ expectations. However, new home sales fell to a 2 year low – showing a conflicting assessment of the property market. It might be due to the heavy programme of interest rate hikes over the last few months. Call in now for a price – especially on the more volatile currencies such as Aus dollar and NZ dollar.

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

2010-06-29T09:20:00.000+01:00

EURO/GBP - 1.231
US$/GBP – 1.505
CHF/GBP – 1.636
CAN$/GBP - 1.571
AUS$/GBP – 1.750

Sterling had a strong day yesterday, climbing to a 1 ½ year high against the euro and a 7 week high against the US dollar. The pound jumped to 1.2250/ £1 and $1.5104/ £1 as the UK currency continued to benefit from last week’s tight emergency budget. Investors speculated that the Euro zone debt problems would leave the region much weaker than the UK after the new coalition’s tight budget was received well by the financial markets. Many analysts see this as the budget that whips the economy into shape. However, gains against the US dollar have been muted, as many analysts feel that last week’s post-budget gains went too far. Another boost for the pound came as everyone’s favourite Bank of England member Andrew Sentence stated that the latest budget would not remove the need for interest rate hikes in the coming months. Out later today, there is monthly lending data and also data on mortgage approvals. Even though the markets have been moving up, there is nothing to stop the pound dropping – call in now to ensure that you secure the best rate.

In the Euro zone, monthly inflation data for Germany came in as expected but money supply data showed that the amount of money in the European economy had shrunk by 0.2%. There is little data out today aside from a European commission report on confidence in the region which is expected to show relatively stable readings. Sentiment towards the Euro zone has seen a relative drop compared to the UK as the emergency budget was released – call in now, especially if you have euros to move into sterling as we could see 1.25/ £1 a lot sooner than many would like.

In the USA, inflation data for consumer purchases came in slightly better than expected at 0.2% but data on personal income showed a drop of 0.1% on the month. Out later today, consumer confidence data is released that some are expecting to show a slight decline. Get in touch and speak to a trader to ensure that you don’t lose out on strong rates.

Elsewhere, Japan’s unemployment rate unexpectedly rose in May as the economy shed 240,000 jobs. These figures show how much the Japanese economy relies on overseas trade to drive domestic demand, especially given how China currently has to curb the excessive growth of its economy. Get in touch now to ensure that you don’t lose 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

2010-06-28T09:42:00.000+01:00

EURO/GBP - 1.216
US$/GBP – 1.504
CHF/GBP – 1.633
CAN$/GBP - 1.557
AUS$/GBP – 1.723

Sterling had a strong week last week as tough spending cuts announced in the emergency budget eased fears amongst investors that the UK would suffer a debt crisis akin to Greece or Spain. The pound hit a 19 month high of 1.22/ £1 and held above the $1.50/ £1 level for the first time in nearly 5 weeks. A new trend emerged that clearly showed the budget helped separate the UK from the rest of Europe in the eyes of investors. Normally, when European stock markets have fallen in the last few months, the pound has followed suit against the euro. However, last week, we saw sterling hold strong in the face of faltering European markets. With little UK data out today, the focus is on the general risk trends. Many analysts feel that there is not enough positive impetus to push the pound beyond $1.50/ £1 – get in touch now to avoid missing out.

In the Euro zone, stock markets are set to rise this morning after Asian markets strengthened overnight. The rally was caused as fears eased that the US senate would draft a harsh banking regulation bill. There had been concerns that at the meeting of the G20 leaders over the weekend, the leaders would co-ordinate some sort of global financial regulation package, but as it was the summit proved fairly inconclusive. The general outcome seemed to be that every country had slightly different issues to contend with and as a result, the respective governments would do things their own way. European money supply data out today is expected to show a further contraction in the rate of growth. Sentiment towards the region is still poor – get in touch now for a live price.

In the USA, the focus this week is on Non-Farm payroll data (released Friday), house prices, manufacturing data and spending/ income data. An improvement in May employment and hourly earnings could mean that both income and spending data shows an improvement also. In addition, overnight the People’s Bank of China set the Chinese yuan’s daily mid-point at a new post-revaluation. This revaluation has been praised by the USA as it makes US goods more competitive, however, the real motive behind the revaluation is probably to keep a lid on China’s overheating economy. Call in now for a live exchange rate.

Elsewhere, a report from the National Bank of New Zealand showed that consumer confidence fell in the region by the largest amount since October 2008. The reason behind the drop was falling expectations of growth in various industries. A survey by Credit Suisse shows that many traders are forecasting an interest rate rise of 131 basis points over the next year despite this poor confidence. Call in now to speak to a trader, as there is a lot of volatility likely on the NZ and AUS dollar.

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

2010-06-25T09:33:00.002+01:00

EURO/GBP - 1.210
US$/GBP – 1.492
CHF/GBP – 1.643
CAN$/GBP - 1.554
AUS$/GBP – 1.726

Sterling extended gains yesterday and hit the highest level since November 2008 against the euro after renewed sovereign debt fears in Greece contrasted sharply with a new found optimism that the UK budget cuts will rein in the country’s record deficit. Following the new government’s emergency budget, investors are now confident that the UK is well on the way to being on a stable financial footing again. One of the big drivers yesterday was investors buying back sterling after placing extreme bets that the pound would fall. This extra demand has seen the pound at a 5 month high against a basket of major currencies, after peaking yesterday at 1.2222/£1 and $1.5011/ £1. We have the G8 meetings going on today, and any positive rhetoric will continue to have a strong effect on the pound. Get in touch now for a live price.

In the Euro zone, yesterday saw Greek debt take centre stage again after the cost of insuring against Greek government default jumped to record levels. The market in this type of insurance gives investors a very clear picture of the sentiment towards the region, and the record cost meant that the euro fell yesterday with one analyst at French bank Societe Generale expecting the pound to hit 1.25/ £1 soon. Data out today in the Euro zone is expected to show that German import prices have increased by 2% in May – up 9.5% on last year. France’s GDP growth is expected to remain unchanged at 0.1% for the quarter. Call in now for a live exchange rate.

In the USA, the final estimate of GDP for the 1st Quarter is expected to be uneventful with growth forecast to remain unchanged at 3% year on year. This ends a relatively disappointing week for the US economy – particularly from housing data. On the other hand, jobless claims fell unexpectedly by 19,000 which came as a welcome surprise. Next week’s June employment report will give a clearer picture of the Labour market in the USA. We are looking at particularly good sterling strength against the US dollar – get in touch now to avoid losing out.

Elsewhere, the Australian and New Zealand dollars fell around 0.6% against the US dollar as Asian stocks fell in overnight trade and impacted on risk appetite for the higher yielding ‘riskier’ currencies. New Zealand’s trade balance surplus widened to a record high of NZ$4.2bn, however the outlook looks poor as Chinese demand is set to lag over 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

2010-06-24T09:55:00.000+01:00

EURO/GBP - 1.218
US$/GBP – 1.495
CHF/GBP – 1.654
CAN$/GBP - 1.555
AUS$/GBP – 1.722

Sterling hit a 6 week high against the US dollar of $1.4999/£1 after sentiment was given a large boost. Firstly, following the emergency budget on Tuesday, credit rating agency Moody’s stated that the UK will retain the AAA credit rating if it successfully implements Tuesday’s measures. In addition, investors were in for a shock when the Bank of England’s minutes for this month’s meeting on monetary policy showed that one of the Bank members voted for a rise in interest rates – the first time for over 2 years that anyone has voted for a rate hike. With VAT set to rise to 20% and a round of tough spending cuts, the affirmation from Moody’s should ease investor concern over the UK. As a result, the pound saw a welcome boost. However, many analysts said that whilst the rise was justified, there are still genuine concerns over the possibility that the cuts and tax hikes could stifle out growth. As a result, many expect that the pound will not have the momentum to push far past $1.50/ £1 for some time. Get in touch now to take advantage of the best price in 6 weeks.

In the Euro zone, the euro fell against the pound as investors flocked to sterling. The pound hit 1.2189/ £1 at one point yesterday. Sentiment towards the euro is still poor, as Portugal announced that borrowing from the ECB by banks in the country doubled in May to a new record level. Banks in the region are having to borrow directly from the central bank, as they face difficulties borrowing on the ‘interbank’ market. The interbank market is where banks borrow money on a short term basis (e.g. overnight) to pay obligations. Due to poor sentiment in the region, the interest rates for overnight lending are prohibitively high and banks are going to the central bank for financing. Out today, we have some retail sales and industrial data – call in now for a live exchange rate.

In the USA, the Federal Reserve kept interest rates on hold. And the language in their statement was slightly more pessimistic than last month, suggesting that an interest rate hike by the end of the year will be less likely. This added to the US dollar’s losses against the pound. Out later today, we have US durable goods orders which are expected to drop marginally for the month. Call in now for a live price.

Elsewhere, the Australian prime minister has resigned due to unpopularity over a ‘super-tax’ on natural resources companies. This has boosted mining stocks and has seen some Aus dollar strength overnight, as the threat of punishing taxes on Australia’s biggest economic earners has now receded. Get in touch 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

2010-06-23T09:37:00.001+01:00

EURO/GBP - 1.209
US$/GBP – 1.486
CHF/GBP – 1.644
CAN$/GBP - 1.530
AUS$/GBP – 1.705

Yesterday we had the first budget from the new coalition government. The reality of the budget was very much as expected given the huge hole in the public finances and the need to match income to expenditure. And it is often stated that it is best to get all the bad news over quickly rather than dragging it out and prolonging uncertainty and undue suffering. So the new Chancellor laid out a very clear plan of action stating what was going to be done and how. The financial markets initial reaction has been positive which is important to sterling’s stability in the currency market as we have to remember that lenders to this country have to be convinced that we will be able to service our debt longer term. Sterling has gained against both the euro and the US$. The one unknown is what the effect of the cuts in expenditure, the increased VAT and austerity measures elsewhere in the world will have on growth in the UK economy, but the belief is that we will avoid a double dip recession. So we have taken a small step forward but the level of uncertainty is still high and that is why it is important to get in touch now and minimise the chance of losing out.

The euro zone is still suffering. On Monday we had the head of the Bank of France state that certain banks were beginning to find increased funding problems. This is what happened before Lehman Brothers went bust. The reason given is that the European Central Banks 12 month loan facility totalling 442bn comes to an end this month but this is to be replaced with a similar sized stabilisation facility so we should see this pressure ease. We also saw some downgrading of some French banks credit ratings which also knocks confidence in the euro zone and the euro which continues to weaken.

The US$ has been trading in a narrow ranger against sterling for the last few days. The major news over the weekend was the Chinese decision to let the Yuan move more freely against the US$. This moving freely is all relative as it will still be very controlled but it does mean that Chinese exports will become more expensive and less competitive and make other countries exports into China cheaper. So the logic being applied is that we will see a rebalancing of the world’s cash flows with China’s trade surpluses reducing.

And the other beneficiaries from the Chinese reduction in currency controls are the commodity backed currencies who will see their exports to China become more competitive.

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

2010-06-22T09:33:00.000+01:00

EURO/GBP - 1.196
US$/GBP – 1.474
CHF/GBP – 1.634
CAN$/GBP - 1.507
AUS$/GBP – 1.678

Sterling started yesterday strongly, rising to a 5 ½ week high against the US dollar of $1.4925/ £1 in early trading, but fell in late trading as traders became anxious over the effect of today’s budget. The pound strengthened after the People’s Bank of China announced overnight on Sunday that it would proceed with reform of the exchange rate ‘Peg’ (i.e. fixed rate) between the Chinese yuan and US dollar. In addition, data showed that house prices in London rose by 2.2% over the last month. This drove risk appetite and news on the yuan is expected to have a positive effect on US manufacturing, as Chinese goods become less competitive. Despite this, the key event this week is today’s emergency budget – the first of the new Coalition government. There is some anxiety over the pace at which the budget will seek to cut the deficit, as if it is too aggressive, growth could be stifled, whereas if the cuts are too lenient the deficit will not be addressed and the markets will lose confidence. If you have any requirements over the next few weeks – call in as soon as possible, because the pound could conceivably go either way against the US dollar and euro. It all depends on how the market reacts to the announcement.

In the Euro zone, there was no data out yesterday of any real importance. ECB Bank President Jean-Claude Trichet addressed the European Parliament. Probably the most interesting piece of information released yesterday was a report by Citigroup that amended their outlook for the euro from ‘negative’ to ‘neutral’ as the single currency closed above an important 2008 low of $1.2330/ 1 – signalling an important ‘technical’ recovery. Out today, we have data on the German business climate that is expected to show a small decline following the debt crisis. Get in touch now for a live exchange rate.

In the US, the big news yesterday was the reaction to China’s move to revalue their currency Peg against the US dollar. Despite an initial drop against the euro and sterling, many are expecting the US dollar to strengthen following the move by China. The revaluation opens the door for US goods to regain some price competition against Chinese goods, which they have lacked since 2005. This should aid the US recovery. There is a lot of volatility likely tomorrow with the UK budget data – call in now to ensure you don’t lose money.

Elsewhere, overnight the NZ and Aus dollar declined on concerns that funding trouble at European banks would temper growth. In addition, the two currencies fell the most against the Japanese yen since December 2008 over fears that the Chinese central bank would intervene to limit gains after the currency peg was eased. 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

2010-06-21T09:41:00.000+01:00

EURO/GBP - 1.197
US$/GBP – 1.487
CHF/GBP – 1.643
CAN$/GBP - 1.512
AUS$/GBP – 1.682

Sterling has started the day strongly, rising to a 5 week high against the US dollar of $1.4925/ £1 in early trading. The pound’s strength comes off the back of strong movement in sterling’s favour on Friday, as data showed that the UK’s budget deficit was lower than expected. The UK’s borrowing is still expected to hit 11% of GDP in the coming year, and the main event on the calendar this week is tomorrow’s ‘emergency’ budget which is expected to deliver tough spending cuts and tax hikes. Today’s strength against the US dollar is linked to risk appetite, and many analysts are concerned that there is too much faith in the pound (which has strengthened by over 2% against the US dollar in the last month). There is some anxiety over the pace at which the budget will seek to cut the deficit, as if it is too aggressive, growth could be stifled. Get in touch now to take advantage of current prices, as we could see the pound return towards $1.40/£1 once the markets have had enough time to digest the budget.

In the Euro zone, the single currency had a strong end to the week as concerns eased over sovereign debt problems following stronger than expected demand for Spanish bonds. In addition, there were announcements over bank ‘stress-testing’ that boosted confidence across the region. There is no data out today, but later in the week, there is PMI data that should give a good idea of the direction of industrial production. Call in now for a live exchange rate – especially if you have euros to move into sterling or US dollars, as the euro is higher than it was last week.

In the USA, so far this morning, the US dollar has fallen by 0.3% and 0.4% against the euro and pound on risk appetite as the People’s Bank of China announced overnight that it would proceed with reform of the exchange rate ‘Peg’ (i.e. fixed rate) between the Chinese yuan and US dollar. The Peg has been blamed for artificially maintaining a weak Chinese currency that has drawn manufacturing demand away from the USA. With the Chinese economy at risk of ballooning out of control, this could be the first step to cool demand – allowing the exchange rate to strengthen, and effectively increase the prices on goods, without using interest rates. Get in touch now to ensure you don’t miss out on favourable movements.

Elsewhere, new car sales in Australia fell by 3.2% in May. This was the biggest drop in over 4 months and was attributable to higher financing costs as a result of the central Bank’s recent interest rate hikes, as this impacted on demand. Ensure you call in now to avoid missing out on good prices and avoid losing money.

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

2010-06-18T09:46:00.002+01:00

EURO/GBP - 1.198
US$/GBP – 1.485
CHF/GBP – 1.651
CAN$/GBP - 1.527
AUS$/GBP – 1.709

Sterling pushed near 1 month highs against the US dollar yesterday as UK retail sales data came in much better than expected and risk appetite increased after a Spanish bond auction was well received. The pound rose to a high of $1.4838/£1 as retail sales jumped 0.6% in May following increased demand for electrical goods in preparation for the World Cup. Sterling was initially under pressure this morning, as the markets digested the chancellor’s speech last night that all but disbanded the FSA in its current form. Mervyn King also caused sentiment towards the pound to dip as he made clear that monetary policy would have to take into account the upcoming ‘fiscal squeeze’ that would follow the budget next week. Out today, there is very little in the way of data. Ensure you call in for a live exchange rate to make sure you don’t miss out on the best rate.

In the Euro zone, there had been concern that yesterday’s issue of Spanish bonds would see a lack of demand due to the poor sentiment surrounding sovereign debt in the region following the Greek crisis. However, the issue attracted more demand than expected and as a result the spread between Spanish and German bond yields narrowed – a measure that investors are happier taking more risk in the marketplace. The only data out today in the Euro zone is purchasing manager data which came in slightly better than expected. There is potential for a significant amount of movement ahead of the UK budget on Tuesday – get in touch now for a live price and to make sure you don’t miss out on the best prices.

In the USA, monthly inflation data came in as expected but unemployment claims increased by 12,000. This saw some US dollar strength initially, but as investors took in data elsewhere, risk appetite returned and the US dollar weakened as funds flowed into riskier assets. There is very little data out today. Call in now for a live exchange rate to ensure you don’t lose money due to adverse exchange rate 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

2010-06-17T09:50:00.000+01:00

EURO/GBP - 1.194
US$/GBP – 1.470
CHF/GBP – 1.645
CAN$/GBP - 1.508
AUS$/GBP – 1.705

Sterling fell yesterday against the US dollar and euro as the pound failed to hold recent gains as renewed fears surfaced over Spain’s banking system that reduced risk appetite. The day started well for the pound, with UK unemployment data showing that the number of people claiming unemployment benefits fell by nearly 31,000 – 7,000 more than expected. However, there are still considerable headwinds facing the economy such as the pending ‘fiscal squeeze’ that will impact consumers and as such, the unemployment figures did not have as positive an effect as might have been expected. Sterling has weakened further overnight, as the new chancellor George Osborne announced the biggest shakeup of financial regulation since Labour came to power in 1997. Under the new scheme, the Bank of England is to have ultimate control of financial supervision. Any new regulation sends jitters through the financial markets and as a result the pound is down this morning. Out later today we have UK retail sales data that is expected to show a 0.1% increase on last month. Call in now for a live price.

In the Euro zone, CPI inflation came in at 1.6% as expected and the euro ended a 2 day rally against the US dollar. The European Central Bank announced a further 5% premium on Greek government debt being used as collateral for government loans as Moody’s downgraded Greek bonds to ‘junk bond’ status – the lowest credit rating. There is little other data out today. Get in touch now to avoid losing out to poor exchange rates.

In the USA, the focus today will be on CPI inflation data. The forecast is for the figure to fall slightly to 2.0% for May as a result of weaker energy prices. Overall, many analysts are expecting price pressures to remain low over the coming months which could dampen expectations of an earlier than expected interest rate rise. Call in today for an exchange rate – especially if you have US dollars to move into sterling, as we have seen a dip in your favour this morning.

Elsewhere, New Zealand consumer confidence is expected to decline by 3.2% in June according to a recent report. This has seen the likelihood of an interest rate rise at the next Bank meeting fall by about 30% from yesterday according to the Credit Suisse interest rate expectations measure. Call in 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

2010-06-16T09:25:00.001+01:00

EURO/GBP - 1.203
US$/GBP – 1.476
CHF/GBP – 1.671
CAN$/GBP - 1.519
AUS$/GBP – 1.712

Sterling had a mixed day yesterday, falling after CPI inflation data came in slightly under what had been expected. Markets were anticipating an annual rate of inflation of 3.5% and when the data showed 3.4%, investors sold the pound. This saw sterling fall to a low of $1.4684/£1 and 1.1998/£1. However, later in the afternoon the pound staged a late surge as appetite for riskier assets returned. This saw a high of $1.4835/£1 and 1.21/£1. Despite falling, inflation is still ‘disappointingly high’ - according to analysts at Investec – and should see some interesting debates over monetary policy over the next few months. Whilst interest rates are unlikely to rise anytime soon, the next major move will be to officially end the ‘quantitative easing’ programme which is (as it stands) ‘on hold’. Watch this space. Out today, we have unemployment data on the change in the claimant count and governor of the Bank of England Mervyn King speaks in London this evening. Get in touch now and discuss your requirements with a currency specialist.

In the Euro zone, the sheer scale of the poor sentiment felt towards the region became apparent today, as a measure of German economic sentiment showed a 20-point drop. The measure (out of 100) shows how investors feel about the economy, and with an expected rise, the scale of the drop demonstrated how shaky many feel about investing in the region. Other data showed that unemployment in the region showed no change. Out today, there is European inflation data. We have seen so many opportunities over the last few weeks to buy at great prices – call in now to make sure you are not losing out due to poor rates.

In the USA, risk appetite and aversion yet again drove the US dollar movement yesterday. With import prices improving against expectations, there were signs that the US economy is on its way to recovery. Out later today there is data on building permits and also purchasing manager data. With the current levels of volatility against sterling, Smart is able to help you target a specific exchange rate by using Orders. Call in now to discuss how we can automatically buy when the rate hits your budgeted level.

Elsewhere, New Zealand consumer confidence rose to the highest level since September 2009 as unemployment dropped sharply at the beginning of 2010. The pound is very volatile against the NZ dollar, so 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

2010-06-15T09:32:00.002+01:00

EURO/GBP - 1.209
US$/GBP – 1.475
CHF/GBP – 1.691
CAN$/GBP - 1.521
AUS$/GBP – 1.728

Sterling rose over 1% against the US dollar yesterday to hit $1.4803/ £1. The pound jumped after the newly formed Office for Budget Responsibility forecast that government borrowing would be less than expected. The growth forecasts of the previous government were amended down, but this did not come as a surprise for many, as Alastair Darling’s forecast for 3% growth in 2011 had already been heavily criticised for being too optimistic. In addition, the markets digested the ‘hawkish’ (arguing for interest rate rises) comments of Bank of England member Andrew Sentence and the bank’s chief economist Spencer Dale. Both were quoted in articles in the Sunday papers questioning the level of inflation and the sustainability of current monetary policy. Inflation figures released today are expected to show a small drop to 3.4% (CPI) and 5.0% (RPI). This is above the Bank’s target level of 2.5%, and the comments made fuelled speculation that we might be looking at changes to monetary policy far sooner than expected. Either way, yesterday’s volatility demonstrates why it is so important to speak to a currency trader sooner rather than later. Call in now to ensure you don’t miss out.

In the Euro zone, monthly industrial production data came in slightly better than expected, but sterling took centre stage and strengthened against the euro. The pound recovered from 1.1950/ £1 to hit a high of 1.2060/ £1. So far this morning, the pound has strengthened further and is currently toying with the 1.21/£1 level. Out later today we have German economic sentiment data which may have improved slightly following the announcement of the emergency financial package to bail out those with sovereign debt issues. Ensure you take advantage and call in today to speak to a trader.

In the USA, there was little data out yesterday and the US dollar traded on sentiment alone. Risk appetite increased, as Asian markets strengthened overnight and investors bought in to riskier assets. There is some trade data released today including monthly import prices. Yet again we seem to be going from risk aversion to risk appetite on a daily basis – ensure you buy at the right time by speaking to a trader today.

Elsewhere, data showed that New Zealand house sales fell by 17% in the last year to May and house prices fell by 1.4%. This cooled the speculation of large interest rate hikes by the year end with one measure shaving 0.5% off what had been expected just 24hrs earlier. In addition, the Reserve Bank of Australia kept rates on hold and are likely to keep rates as they are for a while as the bank assesses the fallout from the Greek crisis. Get in touch now for a live price.

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

2010-06-14T09:51:00.001+01:00

EURO/GBP - 1.204
US$/GBP – 1.466
CHF/GBP – 1.672
CAN$/GBP - 1.514
AUS$/GBP – 1.712

Sterling fell sharply against the euro and US dollar on Friday afternoon as weak industrial output figures left investors concerned that the UK might slip back into recession. Industrial output was expected to show a rise of 0.4%, but dropped unexpectedly by 0.4%. Manufacturing production also fell. However, in early trading this morning, the pound is up by 0.4% against the US dollar following strong trade in the Asian markets that has spurred risk appetite. We are seeing large swings in volatility based around risk appetite/ aversion – especially in the run up to the emergency budget on the 22nd June. Today sees the release of the first forecast from the newly formed Office of Budget Responsibility. The OBR’s assessment is likely to show that the previous government’s forecast for growth over the next few years were far too ambitious. This will further press the need for fiscal consolidation. Call in now to discuss a strategy going forward.

In the Euro zone, with sentiment towards the region still poor, today’s highlight is industrial production data which is expected to have risen 0.5% - the smallest rise in 5 months. Whilst this is unlikely to have a huge impact, investors will be keeping a close eye on the figures over the coming months to see whether a cheaper euro is encouraging overseas sales and helping to prop up domestic demand in the region. With uncertainty over the UK budget in the next few weeks, we could conceivably see the euro strengthen against the pound this week. Call in now to ensure you don’t miss out.

In the USA, a survey showed that consumer confidence in the USA rose to the highest level since January 2008. Even as the debt crisis in Europe has been scaring investors, US consumers are gaining confidence in the US recovery. The boost in confidence has driven Asian stock markets higher and seen demand for the US dollar fall as investors look to more speculative investments. The next major event is the UK’s emergency budget – call in now to make sure you buy at the right time and don’t lose money.

Elsewhere, New Zealand retail sales fell by 0.3% in April which was more than what had been expected. The NZ dollar wasn’t affected though and rose much more than its counterparts as the increase in risk appetite in the Asian markets boosted demand for higher yielding currencies. Some analysts are expecting the central bank to raise interest rates by nearly 2% over the next 12 months. This is likely to strengthen the currency significantly. Call in now if you have payments to make to ensure you don’t lose money.

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

2010-06-11T09:59:00.001+01:00

EURO/GBP - 1.213
US$/GBP – 1.468
CHF/GBP – 1.678
CAN$/GBP - 1.518
AUS$/GBP – 1.738

Sterling rose yesterday driven by a stock market rally and the fact that many investors felt that poor sentiment surrounding the UK’s record deficit had already been ‘priced in’ – i.e. the price takes into account the deficit. The pound rose to a high of $1.4667/£1 and hit 1.2147/ £1 against the euro as investors bought back into the pound following poor sentiment earlier in the week over a possible downgrade of the country’s AAA credit rating. The Bank of England kept interest rates on hold for the 15th month running and also kept the Asset Purchase Facility (quantitative easing) on hold at £200bn. This was widely expected, and further settled the markets and helped add to the pound’s strength. In terms of data, there was little out aside from the Bank decision and out today we have manufacturing data which is expected to show a decline. There is however still concerns over the budget on 22nd June which is holding the pound back. Get in touch now to ensure you are set up to deal with any volatility that this causes.

In the Euro zone, French industrial production fell by 0.3% and the European Central Bank kept interest rates on hold at 1.0%. The euro strengthened following the press conference, as ECB President Jean-Claude Trichet made clear that the recent purchase of Government bonds by the emergency fund would not have any bearing on the ECB’s monetary policy. The sentiment towards the region is still very poor and many analysts are forecasting 1.25/£1. Get in touch now for a live exchange rate – especially if you are holding euros or will need to move euros into sterling at some point soon.

In the USA, a stronger than expected amendment to the trade balance saw investors look elsewhere today. The trade deficit dropped by $0.5bn to -$40.8bn. This saw an increase in risk appetite and meant that the US dollar weakened as investors looked to other currencies. Unemployment data showed that 9,000 more people claimed for unemployment this month over last month, however the unemployment figures were already priced in after last Friday’s poor Non Farm Payroll data. Out today we have retail sales data – get in touch now for a live exchange rate.

Overnight, the Australian and New Zealand dollars fell against the US dollar as Chinese inflation data surged to 3.1% in May. This added further to the speculation that China needs to curb its ballooning economic growth, which will have a direct impact on demand for commodities from Australia and New Zealand. If you need to send funds to the southern hemisphere, now might be an ideal opportunity, as the AUS and NZ dollars are potentially going to weaken. Call in now for a price.

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

2010-06-10T10:15:00.001+01:00

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

2010-06-09T10:42:00.001+01:00

EURO/GBP - 1.211
US$/GBP – 1.448
CHF/GBP – 1.667
CAN$/GBP - 1.520
AUS$/GBP – 1.755

Sterling fell 1% yesterday against the euro breaching 1.20/ £1 as credit rating agency Fitch warned over the UK deficit. Fitch – which is one of the agencies responsible for the credit rating of a country’s debt – said that the challenges facing the UK in order to maintain its ‘AAA’ rating were ‘formidable’. The comments caused concern in the markets, and the pound dropped below $1.44/ £1 and slid to 1.1988/ £1. However, many analysts said that the statement offered nothing new, and simply brought the deficit back into the spotlight ahead of the emergency budget on June 22nd. As a result, sterling has recovered some of yesterday’s losses this morning – helped by the FTSE which opened 0.5% higher. Elsewhere, the UK trade deficit has stayed at £7.3bn despite an expected improvement to £7.0bn. Also, retail sales data showed a mild decline in price inflation. With the current volatility, get in touch to ensure that you don’t miss out.

In the Euro zone, yesterday saw some positives on the data front. German industrial production unexpectedly jumped to 0.9% and investor confidence improved – albeit marginally, while the German trade surplus dropped marginally. Aside from this, there was little to improve on the poor sentiment towards the Euro zone, as many public sector workers went on strike in Spain to demonstrate against the harsh cuts that have been imposed by the recent ‘austerity measures’. There is little data out today – get in touch now to ensure that you buy at the right time.

In the USA, the US dollar strengthened again yesterday following the comments from Fitch. Risk aversion is the major driver of sterling/ US dollar prices at the moment and even though yesterday’s comments added nothing new to what the markets already knew about the UK deficit, the comments brought the deficit back into the spotlight. In terms of data, data on economic optimism showed a decline. Out today, there is crude oil inventory data and Fed Chairman Ben Bernanke testifies to the senate. The US dollar has declined slightly this morning, so get in touch with a trader now to ensure you buy at the right time.

Elsewhere, Australian home loans fell for the 7th consecutive month as mortgage rates increased following a 1.5% increase in the interest rate over the last 7 months. In addition, there is speculation that New Zealand will see the first interest rate hike since 2007 later this evening. The decision is expected at 9pm GMT. This is likely to cause the pound to weaken against the NZ dollar – call in now to make sure you don’t lose 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

2010-06-08T10:03:00.001+01:00

EURO/GBP - 1.211
US$/GBP – 1.447
CHF/GBP – 1.679
CAN$/GBP - 1.529
AUS$/GBP – 1.773

Sterling hit a fresh 18 month high against the euro yesterday and also strengthened against the US dollar. The pound jumped to 1.2176/ £1 as rumours circulated that investors were moving funds from German ‘bunds’ (government bonds) into UK government bonds (also known as ‘gilts’). The move to UK based investments was attributed to fears over the structure of the euro zone as concerns grew even further that the euro will see serious problems over the coming years. Following a poor start to the week due to risk aversion, the pound also rallied against the US dollar as speculation grew that Prudential had not yet finished buying back billions of US dollars worth of sterling following last week’s failed bid to purchase AIG’s Asian insurance arm. The pound jumped 0.6% this morning to hit a high of $1.4560/ £1 before settling above $1.45/£1. David Cameron spoke today about the long road ahead for the UK economy, but there was little in his statement that the markets were not aware of already, as a lot of his ‘revelations’ over incorrect Labour forecasts have been suspected by a number of analysts for many months. Out today, there is consumer confidence data released overnight. Get in touch now for a live exchange rate.

In the Euro zone, the euro hit a 4 year low against the US dollar of $1.1877/ $1 – rapidly approaching the $1.15/ 1 that many analysts have been predicting. The fall was as a result of a statement last week by a Hungarian official who stated that the country had a slim chance of avoiding a Greek style crisis. Despite the fact that Hungary is not part of the single currency, it is a key trading partner for many European countries and poor news impacts the euro significantly. There was a positive bit of data today – German factory orders unexpectedly jumped 2.8% for the month which was a welcome note, but this did little to change the poor sentiment. Out later today, there is a fair amount of ‘low-impact’ data and also German industrial production data. Get in touch now – especially if you are holding Euros and need to move them into another currency, as it could possibly get much worse.

In the USA, after a strong start to the day for the US dollar as investors moved to buy the safe haven currency, the US dollar gave back ground to most currencies with the notable exception being the euro. With a relatively quiet day on the data front, the US dollar became a gauge of risk sentiment again. The general forecast is that the US dollar is set to strengthen against the pound, and once the volatility related to Prudential has worn off, expect the US dollar to continue to strengthen. Out later today there is some economic optimism data. Get in touch now to take advantage of any spikes in the market.

Elsewhere, Australian business confidence fell for the 3rd month running according to a survey by the National Bank of Australia. This is the lowest level of confidence for nearly a year and is due to a recent super tax on commodities and also concerns that China is likely to cool demand in its economy which will have a knock on effect for the currency. Expect the Australian dollar to weaken over the coming months as it appears over valued currently – call in now for a price to ensure you take advantage.

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

2010-06-07T10:37:00.000+01:00

EURO/GBP - 1.207
US$/GBP – 1.442
CHF/GBP – 1.680
CAN$/GBP - 1.534
AUS$/GBP – 1.771

Sterling fell on Friday against the US dollar but hit a 1 ½ year high against the euro as a worse than expected rise in US employment figures pointed towards a slower than expected US recovery. With Europe in the midst of a debt crisis and China looking to curb spiralling growth, many analysts were hoping that the USA could provide the driving engine of a global recovery. However, with the number of new jobs falling 100,000 short of what was expected, many analysts feel that this opens the door to a double dip recession and fresh round of risk aversion and a flight to US dollar denominated assets. Over the weekend, news was released that David Cameron is to state that the UK economy is in a far worse state than he had initially thought. With £6bn worth of cuts already announced, this is a drop in the ocean compared to the £156bn deficit. Following the Prime Minister’s statement later today, expect some volatility on the currency markets. In terms of data, there is little out aside from some yearly retail sales data. Ensure you do not lose out. Get in touch now for a live exchange rate.

In the euro zone, the region continues to suffer from poor sentiment related to the debt crisis and the euro fell to the lowest level for 4 years against the US dollar last week, dipping below $1.20/ 1. The single currency is also at the lowest level since 2001 against the Japanese yen. One survey of economists in the Daily Telegraph over the weekend suggested that the euro would be ‘dead’ within 5 years – or at the very least, certain countries would start pulling out of the currency as and when they default on loans. Out later today, there is German factory data which is expected to show a mild decline. Call in now for a live price.

In the USA, following Friday’s disappointing jobs report, the US dollar and Japanese yen have both strengthened as investors look for safe haven assets to invest in. With fears of a double dip recession – where growth turns negative after a period of recovery – the US dollar again looks set to take on the role of risk sentiment indicator. Therefore, any negative news in the UK will see sterling fall against the US dollar. In addition, perversely, any strong data for the USA will have the same effect. Call in now for a live exchange rate.

Elsewhere, the pound has strengthened marginally against the Australian dollar and other ‘commodity currencies’ this morning, as risk aversion sees traders move from ‘riskier’ investments in those countries and back into safer sterling/ US dollar assets. It might be an advisable time to look at taking advantage of the improved rate if you have payments to make. Call in now to speak to a trader and make sure 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

2010-06-04T09:37:00.000+01:00

EURO/GBP - 1.200
US$/GBP – 1.464
CHF/GBP – 1.691
CAN$/GBP - 1.521
AUS$/GBP – 1.729

Sterling fell against the US dollar yesterday after mixed data failed to impress the markets. The pound initially strengthened as a survey showed a rise in UK house prices, but then suffered as services sector growth came in worse than expected. The pound fell to a low of $1.4588/ £1 on the news off a high of $1.4740/ £1. Many analysts cited that any sterling demand following the unwinding of protective positions following the collapse of Prudential’s bid for the Asian arm of AIG had now been completed, and as such, this contributed to the pound’s decline. However, sterling performed strongly against the euro and hit 1.2008/ £1 in late trading, as concerns over the outlook for the Euro zone economy outweighed the perceived risk of investing in the UK. Many analysts expect the pound to strengthen to 1.2239/ £1 – a key technical level representing the mid point between the 2007 highs and 2008 lows. Out later today we have further house price data. Get in touch now for a price.

In the Euro zone, the single currency continues to suffer from concerns over the economic outlook related to the region. With sovereign debt a major issue, many investors are looking elsewhere for returns and as such the euro continues to weaken. Services data showed a mild improvement, but this did nothing to impact on sentiment, and in late trading the euro weakened to fall above the 1.20/£1 mark again. The major data out tomorrow is revised quarterly GDP data, which is unlikely to have a large effect unless it is wildly outside of what is expected. Call in for a live exchange rate.

In the USA, there was a raft of relatively mixed data out yesterday. Non-farm employment showed that the US labour market grew by 55,000 jobs last month which was worse than expected. In addition, unemployment claims stayed the same, and productivity data showed a mild decline. Out today there is the ‘main’ measure of unemployment and the Non-farm unemployment rate, which normally see a fair amount of volatility. Ensure you don’t miss out by calling in now for a live exchange rate.

Elsewhere, overnight the Australian and New Zealand dollars fell as Asian stocks declined. Selling pressure built as the world’s largest copper producer said that China’s plans to curb its buoyant economic growth and spiralling inflation would cause a fall in demand for commodities, and as such a fall in demand for the Australian dollar. Get in touch now for a live price.

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

2010-06-03T10:42:00.002+01:00

EURO/GBP - 1.195
US$/GBP – 1.470
CHF/GBP – 1.691
CAN$/GBP - 1.521
AUS$/GBP – 1.727

Sterling fell against the US dollar after the boost provided by the collapse of Prudential’s bid to purchase the Asian arm of AIG subsided throughout the day. Once Prudential’s anticipatory billion dollar positions were cancelled, there was little further demand for sterling and the focus switched back to general risk sentiment. With little new political or economic news, the pound fell by around 0.4% at one point in the afternoon from a high of $1.4770/ £1 before stabilising later on in the afternoon. After a bright start against the euro (hitting 1.2073/ £1 at one point) the pound slipped off, but remained above 1.19/ £1. Data out today showed that mortgage approvals slightly more than expected and lending fell for the first time since November. Out later today we have Halifax house price data and also service sector data which can have a large effect on the price. Get in touch now to avoid missing out.

In the Euro zone, the euro strengthened marginally against sterling to close at 1.1970/ £1 and finished around where it started against the US dollar at $1.22/ 1. In terms of data, there was inflation data that showed producer prices had increased by 0.9% versus an expected level of 0.7%. The region is still suffering heavily from poor sentiment, so today’s release of retail sales data and PMI data is unlikely to have much effect. Having now hit 1.20/ £1, many analysts are now expecting the euro to fall to 1.25/ £1. Get in touch now for a price.

In the USA, pending home sales data jumped unexpectedly to 6% against an expected rise of 4.9%. As a result, this helped strengthen the US dollar against most currencies alongside a move to slightly safer assets as risk aversion returned to global investors. Out today, there is important unemployment data which is expected to show that the US economy gained around 68,000 jobs in the last month. Call in now for a price as there is still considerable volatility.

Elsewhere, Australia posted the first trade surplus in a year (exporting more than it imported) as high Chinese demand related to industrial production saw sales of metal and mineral ore surge by 25%. However, the outlook maybe a little more dull, as China tries to curb economic growth to avoid asset bubbles. The Australian bank chief hinted that China’s need to stem growth was a major reason behind the decision to keep Australian interest rates on hold – signalling an end to the programme of rate hikes. 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

2010-06-02T10:51:00.000+01:00

EURO/GBP - 1.200
US$/GBP – 1.468
CHF/GBP – 1.696
CAN$/GBP - 1.547
AUS$/GBP – 1.764

Sterling rose against the US dollar and hit the highest level against the euro for eighteen months. The pound was given a boost as speculation grew that Prudential may abandon the bid for AIG’s Asian insurance business – which has this morning been confirmed. When the $30bn bid was initially announced, many traders bought US dollar positions to protect themselves against the huge market movement that a purchase of $30bn from sterling would cause. At the time, this saw a large drop in sterling’s value against the US dollar. Therefore, with the deal now potentially off, investors and traders have bought back sterling from US dollar and as a result, given the pound a well needed boost. Against the euro, the pound has breached the 1.20/ £1 level for the first time since late 2008. Strong factory data in the UK suggested that the UK had not been affected by the problems in the Euro zone to the extent that many had thought. Out later today, we have construction data and also mortgage lending data. Get in touch now for a price and to ensure you take advantage of the current movements.

In the Euro zone, the euro suffered considerably yesterday against the US dollar and sterling. Against the US dollar, the euro is at 1.22/ $1 and 1.2020/ £1 against the pound. Concerns over bad debts in the euro zone continued to push the euro lower against most major currencies. The only real data out today is monthly PPI data and this is unlikely to have any effect on the generally negative sentiment towards the Euro zone. Get in touch now for a live price – especially if you have euros that need moving into sterling or US dollars, as the rate is likely to get worse.

In the USA, with a fairly light day on the economic calendar, the major driver of the US dollar movement yesterday was the failed Prudential bid. This saw a scramble to pull out of protective ‘hedging’ positions and as a result the US dollar fell against the pound. Out later today, we have some home sales and vehicle sales data. Get in touch now for a live exchange rate.

Elsewhere, the Japanese yen has weakened this morning as news was released that Prime Minister Yukio Hatoyama had resigned. In addition, many analysts are expecting the Australian and New Zealand dollar to strengthen as increased optimism over Asian economies is likely to drive huge demand for commodities – most of which are sourced in AUS/ NZ dollars. This is could see the pound fall against those currencies. Get in touch now to fix in future requirements and 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