Foreign Exchange Rates Dubai

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Foreign Exchange Rates EUR/USD 1.3105-1.3134

Foreign Exchange Rates GBP/USD 1.6014-1.6072

Foreign Exchange Rates GBP/EUR 1.2208-1.2246

Currency markets are taking something of a breather today after recent fluctuations with even the USD failing to make further gains despite weaker global stocks.

Sentiment remains bearish for the Euro even after Sweden and Denmark followed Japans earlier example and contributed to the IMF firewall fund. The Scandinavian countries contribution now totals $22 billion and may lead the way for other nations to follow suit; thus giving short term moral support for the Euro.

Sterling powers ahead against a basket of currencies after stronger employment data yesterday and encouraging economic growth forecasts. It is less likely that further Q/E will be introduced by the Bank of England after the MPC minutes revealed one less vote for additional Q/E (now 8-1 from 7-2).

Markets will focus on the bond auctions for Spain as well as France today.

Foreign Exchange Rates EUR/USD currently 1.3122. Support 1.3000, resistance 1.3300.

Foreign Exchange Rates GBP/USD currently 1.6062. Support 1.6000, resistance 1.6300.

Foreign Exchange Rates GBP/EUR currently 1.2135. Support 1.2100, resistance 1.2400

Foreign Exchange Rates Dubai

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