Spain announces additional austerity measures

Published on in Foreign Exchange News by

Problems across the Euro Zone continue to heap pressure on the ailing Euro.

As Spain announced additional austerity measures demonstrations in Madrid confirm social unrest is building. While Italy confirmed fears that it may also need ‘temporary support’ from the Euro Zone bail-out funds to bring down borrowing costs.

All told the USD is very much the ‘safe haven’ of currencies at the moment. There was limited reaction to the Federal Reserve’s FOMC minutes released last night, despite the fact that they confirmed it was open to additional Q/E, but would need conditions to worsen for a consensus to build.

Despite Sterling trading at the major resistance level of € 1.2700 it gave back some of its gains as it was announced that Britain’s biggest bank HSBC were being fined $ 1 billion for money laundering offences; yet again another stain on the City’s image.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.26700 1.26500
GBP/USD 1.55610 1.54570
GBP/CAD 1.58660 1.57880
GBP/NZD 1.95130 1.95760
GBP/AUD 1.51780 1.52220
GBP/AED 5.71080 5.67960
EUR/USD 1.22850 1.22170
GBP/CHF 1.51620 1.51900
GBP/ZAR 12.7133 12.8430
GBP/SEK 10.8236 10.8500
GBP/JPY 123.267 122.650
GBP/PLN 5.30010 5.31370
USD/PLN 3.41730 3.40110
EUR/PLN 4.19820 4.19500
EUR/CHF 1.20100 1.20100
GBP/MAD 13.8846 13.8750
PLN/EUR 0.23820 0.23830
GBP/CZK 32.1058 32.1400
GBP/DKK 9.39020 9.40650
GBP/HKD 12.0270 11.9880
GBP/HUF 363.742 365.490
GBP/NOK 9.45150 9.45500
GBP/INR 85.9450 86.0050
GBP/THB 49.0721 49.1300

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