Euro rate on the rise

Published on in Foreign Exchange News by

The Euro is a little firmer today with rumours that the ECB are considering placing bond yield ‘limits’ on peripheral nations bonds. This has led to some Euro support initially after the Euro failed to break €/$ 1.2400 on Friday and was yet again sold below the €/$ 1.2300 late afternoon

With Greek bond redemptions due shortly Greek PM Samaras will be hopeful when he is scheduled to visit Berlin this week. However, German Fin Min Schauble was quoted over the weekend as saying that “it is not responsible to throw money into a bottomless pit” while two senior politicians in Merkel’s Christian Democrat party told a German paper that there would be no third aid package for Greece.

Meanwhile, Sterling continues to hold around $1.5700 level and for further gains this week eyes will be on a sustained technical break above €/$ 1.2450. Versus the Euro, the Pound will need to close below € 1.2700 for lower levels to be seen again.

There is again talk that the Federal Reserve will introduce additional Q/E sooner rather than later as the USD opens weaker today.

Main Currency Pairs * Friday Today
GBP/EUR 1.27000 1.27100
GBP/USD 1.57180 1.57000
GBP/CAD 1.55120 1.55200
GBP/NZD 1.94360 1.94000
GBP/AUD 1.50410 1.50100
GBP/AED 5.77200 5.76550
EUR/USD 1.23780 1.23500
GBP/CHF 1.52510 1.52640
GBP/ZAR 12.9497 13.0400
GBP/SEK 10.5310 10.4660
GBP/JPY 124.535 124.800
GBP/PLN 5.21400 5.16900
GBP/SGD 1.96430 1.96700
EUR/PLN 4.07710 4.06500
EUR/CHF 1.20100 1.20100
GBP/MAD 14.0783 13.9840
PLN/EUR 0.24530 0.24600
GBP/CZK 31.8588 31.6800
GBP/DKK 9.52030 9.46900
GBP/HKD 12.1807 12.1790
GBP/HUF 356.020 352.340
GBP/NOK 9.38300 9.31000
GBP/INR 87.5836 87.0700
GBP/THB 49.5594 49.4600

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