Spain bond yields trade above critical 7% level

Published on in Foreign Exchange News by

At their summit in Mexico the G20 leaders pledged $ 450 billion to the IMF’s crisis fund, raising its capacity to shield the world economy and hopefully restoring some confidence in the Euro.

However, the crisis in Spain continues as 10 year bond yields traded above the critical 7% level yesterday, a result of which saw Italian bond yields also trade higher. Greece is expected to form its coalition government during the next 24 hours although it will remain a testing political situation. All in all the Euro remains fragile, but this morning has some breathing space after yesterday’s losses.

Sterling opens above the € 1.2400 level ahead of today’s inflation data and strong resistance is expected at the $ 1.5700 level. Day two of the G20 meeting in Los Cabos takes place today.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.24010 1.24130
GBP/USD 1.56720 1.56490
GBP/CAD 1.60610 1.60070
GBP/NZD 1.98150 1.97040
GBP/AUD 1.55380 1.55320
GBP/AED 5.75400 5.74680
EUR/USD 1.26440 1.26080
GBP/CHF 1.47920 1.49010
GBP/ZAR 13.0091 13.0582
GBP/SEK 10.8823 10.9692
GBP/JPY 122.232 123.759
GBP/PLN 5.29420 5.31100
USD/PLN 3.41250 3.39250
EUR/PLN 4.29840 4.28070
EUR/CHF 1.20100 1.20100
GBP/MAD 13.6122 13.6818
PLN/EUR 0.23260 0.23360
GBP/CZK 31.5211 31.6290
GBP/DKK 9.15300 9.22130
GBP/HKD 12.0387 12.1481
GBP/HUF 365.365 363.027
GBP/NOK 9.26720 9.33750
GBP/INR 85.9687 87.6600
GBP/THB 48.8385 49.2667

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