21st June will hold Spanish bond auction

Published on in Foreign Exchange News by

The Federal Reserve last night extended its “operation twist” program.

The Fed plans to sell short term bonds while purchasing longer term securities in a moderate attempt to support a slowing economy; a move that is expected to keep rates low for an extended period. They also went on to reiterate their concern that the Euro Zone poses a threat to the economic outlook and should the European situation worsen going forward then they would be more likely to introduce further Q/E. The impact of these announcements has been muted, but the USD is a little stronger today.

Spain takes the Euro Zone headlines this morning with the interim Spanish banking audit due today. Markets will be looking at the first true independent assessment of the size of the banks non-performing loan book value. Also, although relatively small, eyes will also be on today’s Spanish bond auction.

In the UK, Sterling ‘feels’ a little over stretched against the USD above $1.5700 and the Euro above €1.2400 after the release of the BoE minutes show growing votes in the MPC for a further round of Q/E.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.23700 1.23980
GBP/USD 1.57070 1.57240
GBP/CAD 1.59880 1.60440
GBP/NZD 1.97200 1.96820
GBP/AUD 1.54100 1.54610
GBP/AED 5.76800 5.77420
EUR/USD 1.27000 1.26770
GBP/CHF 1.48460 1.48960
GBP/ZAR 12.8870 12.9600
GBP/SEK 10.9350 10.9720
GBP/JPY 123.900 125.530
GBP/PLN 5.25200 5.25970
USD/PLN 3.34210 3.33700
EUR/PLN 4.24600 4.23930
EUR/CHF 1.20100 1.20090
GBP/MAD 13.6700 13.7307
PLN/EUR 0.23570 0.23590
GBP/CZK 31.4015 31.5794
GBP/DKK 9.19600 9.22260
GBP/HKD 12.1800 12.2294
GBP/HUF 355.700 356.017
GBP/NOK 9.29500 9.31270
GBP/INR 87.9100 88.5099
GBP/THB 49.4300 49.6501

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