Euro increases in-spite of Euro Zone debt crisis

Published on in Foreign Exchange News by

Sterling fell to a one month low against the Euro and a trade-weighted basket of currencies on Monday, undermined by the growing concern of a weakening economy.

The recovery in the Euro fuelled by expectations that the ECB may take action to ease the Euro Zone debt crisis, has refocused investors minds back to poor UK economic fundamentals. The major concern is that a poor reading of UK manufacturing data due today and inflation forecasts in tomorrow’s Bank of England quarterly report, could open the door for further quantitative easing or a cut in interest rates in the coming months. Against the dollar, however, the pound remains steady, following moves in EUR/USD.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.25900 1.25920
GBP/USD 1.55780 1.56160
GBP/CAD 1.55970 1.55990
GBP/NZD 1.90450 1.90380
GBP/AUD 1.47610 1.47610
GBP/AED 5.72160 5.73360
EUR/USD 1.23680 1.24030
GBP/CHF 1.52540 1.51110
GBP/ZAR 12.8451 12.7900
GBP/SEK 10.5146 10.4915
GBP/JPY 121.722 122.340
GBP/PLN 5.19300 5.09600
GBP/SGD 1.93730 1.93800
EUR/PLN 4.08920 4.04780
EUR/CHF 1.20120 1.20140
GBP/MAD 13.9902 13.8550
PLN/EUR 0.24450 0.24700
GBP/CZK 32.1100 31.6000
GBP/DKK 9.45010 9.37300
GBP/HKD 12.0589 12.1098
GBP/HUF 354.245 348.700
GBP/NOK 9.35930 9.30130
GBP/INR 86.7001 86.2800
GBP/THB 49.0914 49.0620

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