Buying Gold or Oil Paying in Sterling could give you a better rate

Published on in Foreign Exchange News by

Foreign Exchange Rates EUR/USD 1.2964-1.3004

Foreign Exchange Rates GBP/USD 1.6128-1.6156

Foreign Exchange Rates GBP/EUR 1.2419-1.2444

The Euro opened below $ 1.3000 and technically could fall further should we hold below this level over the next few sessions.

The backlash against austerity measures in both France and Greece is adding to the problems for the Euro. Greece, in particular, is struggling as it looks extremely likely they will be returning to the polls after failing to create a coalition since the elections over the weekend.

Both Sterling and the USD remain the major beneficiaries against a basket of currencies, including commodity based currencies, as gold, oil and global stock fell over the last week.

The Pound now looks comfortable above € 1.2400, a level we have not seen since 2008.

Foreign Exchange Rates EUR/USD currently 1.2992. Support 1.2700, resistance 1.3000.

Foreign Exchange Rates GBP/USD currently 1.6149. Support 1.6000, resistance 1.6300.

Foreign Exchange Rates GBP/EUR currently 1.2428. Support 1.2400, resistance 1.2700

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