Sterling is unchanged against the USD

Published on in Foreign Exchange News by

As a result of non performing loans in the property sector it is thought that more Spanish banks may require re-capitalization after the Bankia bail out by the Spanish government. Due to these concerns Spanish 10 year bond yields continue to rise around the 6.5% level. It has been mentioned in some quarters that such re-capitalization could be funded by the EFSF (bail-out fund).

The markets preference is to continue to sell into Euro strength while the next major technical support for the Euro is at €/$ 1.2400 level. Sterling is relatively unchanged against the USD, refusing to hold below $ 1.5700 level for the time being and opening around € 1.2500.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.24670 1.24980
GBP/USD 1.56770 1.57000
GBP/CAD 1.60700 1.60870
GBP/NZD 2.06960 2.05940
GBP/AUD 1.59150 1.59230
GBP/AED 5.75800 5.75770
EUR/USD 1.25670 1.25580
GBP/CHF 1.49960 1.50220
GBP/ZAR 13.0480 13.0746
GBP/SEK 11.2370 11.2463
GBP/JPY 124.500 124.672
GBP/PLN 5.42260 5.42360
USD/PLN 3.46960 3.45330
EUR/PLN 4.34710 4.33940
EUR/CHF 1.20190 1.20190
GBP/MAD 13.7850 13.7908
PLN/EUR 0.22970 0.23040
GBP/CZK 31.7660 31.6323
GBP/DKK 9.26500 9.28670
GBP/HKD 12.1700 12.1912
GBP/HUF 371.680 372.928
GBP/NOK 9.40660 9.41870
GBP/INR 86.9000 86.6704
GBP/THB 49.6780 49.6450

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