Russian ruble hit its lowest level

Published on in Foreign Exchange News by

Foreign Exchange Overnight/Morning Ranges:
Rates EUR/USD 1.4276-1.4346
Rates GBP/USD 1.5944-1.6017
Rates GBP/EUR 1.1135-1.1198

The Russian ruble hit its lowest level in a week versus the US dollar as Russia’s major export oil declines after China’s central bank raises rates. In Thailand, the new PM elect Yingluck Shinawatra stated that the Thai baht will remain as a free floating currency.

Senior European officials have criticized Moody’s decision to downgrade Portugal, and have threatened new regulatory action against all three major rating agencies. The game continues, politics, debt and bailouts, these themes will stay with us for some time to come.

In the meantime the Euro holds on to its losses as we await the expected rate increase of 0.25% by the ECB today which is priced in by the market. Ears will be on the post press conference comments by ECB President Trichet. BoE rate decision also is due and is expected to be unchanged.

Sterling opens below yesterday’s support of € 1.6000 level and still comfortably above the € 1.1100 level, as UK manufacturing output rose at its fastest pace in over a year.

EUR/USD currently 1.4310. Support 1.4200, resistance 1.4500.

GBP/USD currently 1.5985. Support 1.5700, resistance 1.6000.

GBP/EUR currently 1.1170. Support 1.1100, resistance 1.1350.

Rates GBP/AUD 1.4865
Rates GBP/CAD 1.5430
Rates GBP/ZAR 10.70
Rates GBP/NZD 1.9310
Rates GBP/PLN 4.4000
Rates GBP/CHF 1.3400
Rates GBP/CZK 27.00

Oil $ 97.42 Gold $ 1534 Dow +0.45% FTSE +0.04% Nikkei -0.11%

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