European Central Bank left rates unchanged

Published on in Foreign Exchange News by

The European Central Bank left rates unchanged yesterday, but there remains suspicion that behind the scenes EU officials are attempting to find some resolve for the Spanish banking crisis.

Stock markets in general have responded positively and as a result the USD continued to weaken against a basket of currencies. The Euro rallied during the last 24 hours, largely as a result of risk position unwinding, and thus Market sentiment remains ‘sell into any Euro strength’.

Sterling seems to have lost some of its sparkle ahead of the MPC rate decision today as well as the review of Q/E. However, today’s service sector PMI was slightly better than expectations which has lowered the chances of further Q/E and as a result this data sees Sterling is a little firmer.

A second day of stronger economic data from Australia continues to boost the AUD as well as other commodity based currencies

Main Currency Pairs * Yesterday Today
GBP/EUR 1.23600 1.23140
GBP/USD 1.54700 1.54660
GBP/CAD 1.59620 1.59020
GBP/NZD 2.02500 2.00800
GBP/AUD 1.56800 1.55500
GBP/AED 5.68500 5.68170
EUR/USD 1.25100 1.25470
GBP/CHF 1.48500 1.48000
GBP/ZAR 12.9825 12.8691
GBP/SEK 11.1000 11.0925
GBP/JPY 122.530 122.720
GBP/PLN 5.36110 5.31070
USD/PLN 3.52530 3.43390
EUR/PLN 4.33200 4.30890
EUR/CHF 1.20100 1.20080
GBP/MAD 13.6300 13.5050
PLN/EUR 0.23080 0.24750
GBP/CZK 31.5500 31.3390
GBP/DKK 9.18900 9.15500
GBP/HKD 12.0100 12.0000
GBP/HUF 369.760 366.700
GBP/NOK 9.40500 9.37700
GBP/INR 85.7800 85.1400
GBP/THB 48.6200 48.7170

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