Pound Sterling not affected by IMF report

Published on in Foreign Exchange News by

The Spanish bank bail-out will be the main talking point when Euro finance ministers hold a conference call today.

The terms of the deal will need to be finalised to add some stability across the ailing country as Spanish 10 year bond yields broke through the ‘unsustainable’ level of 7% yesterday. This is the first time this has happened since the new austerity measures were announced last week. As a result the Euro is relatively unchanged on the week against the USD but has weakened in general against a basket of currencies including of course Sterling.

The Pound also rallied above $ 1.5700 yesterday where the weight of corporate orders to buy USD has stalled any further rise. This has also coincided with a downbeat report from the IMF both on economic growth forecasts and the threat of an extended housing slump in the UK. Sterling has also held onto its gains over the Euro despite the IMF report.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.27500 1.28160
GBP/USD 1.56530 1.57030
GBP/CAD 1.58150 1.58320
GBP/NZD 1.94950 1.95550
GBP/AUD 1.50380 1.50700
GBP/AED 5.75090 5.76180
EUR/USD 1.22750 1.22560
GBP/CHF 1.53190 1.53380
GBP/ZAR 12.7631 12.7941
GBP/SEK 10.8325 10.8614
GBP/JPY 123.253 123.257
GBP/PLN 5.33100 5.31090
GBP/SGD 1.96630 1.96720
EUR/PLN 4.17950 4.15840
EUR/CHF 1.20100 1.20100
GBP/MAD 14.0189 14.0454
PLN/EUR 0.23930 0.24050
GBP/CZK 32.2423 32.3512
GBP/DKK 9.48830 9.50030
GBP/HKD 12.1037 12.1711
GBP/HUF 364.668 362.771
GBP/NOK 9.54400 9.54980
GBP/INR 86.5153 86.3780
GBP/THB 49.4821 49.5875

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