Sterling and USD stronger against all currencies

Published on in Foreign Exchange News by

News of the Spanish bank deal saw the Euro rally during the Far East session yesterday but when Europe opened it was immediately sold.

The bank loan has prompted Spanish bond selling as their yields rise yet again, with the €100 billion deal being added to Spain’s public debt burden. Italy’s weaker GDP reading has done little to aid the Euro as their bond yields also rise. While there is also talk that Cypriot banks are on the verge of requesting financial assistance. Market sentiment remains `bearish’ for the Euro ahead of the Greek elections this weekend and should €/$ 1.2400 clearly break, then a €/$ 1.2100 target would be technically possible.

Sterling and USD are both stronger against a basket of currencies as global stocks give back any short term gains made. Sterling needs to hold above the € 1.2400 level for further gains.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.23500 1.23880
GBP/USD 1.55650 1.54900
GBP/CAD 1.59330 1.59450
GBP/NZD 2.00670 2.00780
GBP/AUD 1.56110 1.56230
GBP/AED 5.67440 5.68560
EUR/USD 1.26010 1.25100
GBP/CHF 1.48670 1.48690
GBP/ZAR 12.9205 12.9887
GBP/SEK 11.1122 10.9684
GBP/JPY 122.409 123.313
GBP/PLN 5.31720 5.31790
USD/PLN 3.44560 3.42420
EUR/PLN 4.29600 4.29530
EUR/CHF 1.20120 1.20100
GBP/MAD 13.6428 13.6886
PLN/EUR 0.23280 0.23280
GBP/CZK 31.5378 31.4411
GBP/DKK 9.19850 9.20260
GBP/HKD 11.9714 12.0494
GBP/HUF 367.102 366.374
GBP/NOK 9.40590 9.35500
GBP/INR 85.5919 86.5755
GBP/THB 48.9189 49.1383

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