EUR/USD exchange rate

Published on in Foreign Exchange News by

The market certainly appears to be confused with conflicting signals from the ECB and German Bundesbank over the last few days.

Jörg Asmussen, the powerful German member of the ECB’s executive board, yesterday voiced his support for the bond purchase rescue plan of ECB president Draghi and Chancellor Merkel. This has led the EUR/USD to rally after trading below €/$ 1.2300 yesterday. In fact, the USD is generally weaker across a broad range of currencies.

Sterling is now trading above the $ 1.5700 level again where there has been recent natural corporate flows with an interest to buy USD’s. A close above $ 1.5750 would indeed be ‘bullish’ for Sterling although there is reportedly further corporate interest to sell GBP above this level. Versus the Euro the Pound has traded in a tight range with € 1.2700 being the current technical support level.

So, many words but no action make for a difficult market to call despite the long term trend for a weaker Euro still being intact.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.27100 1.26920
GBP/USD 1.57000 1.57500
GBP/CAD 1.55200 1.55300
GBP/NZD 1.94000 1.93500
GBP/AUD 1.50100 1.49800
GBP/AED 5.76550 5.78470
EUR/USD 1.23500 1.24080
GBP/CHF 1.52640 1.52430
GBP/ZAR 13.0400 13.0120
GBP/SEK 10.4660 10.4600
GBP/JPY 124.800 125.100
GBP/PLN 5.16900 5.16000
GBP/SGD 1.96700 1.96900
EUR/PLN 4.06500 4.06000
EUR/CHF 1.20100 1.20100
GBP/MAD 13.9840 13.9750
PLN/EUR 0.24600 0.24630
GBP/CZK 31.6800 31.4500
GBP/DKK 9.46900 9.45000
GBP/HKD 12.1790 12.2200
GBP/HUF 352.340 350.000
GBP/NOK 9.31000 9.29000
GBP/INR 87.0700 87.5000
GBP/THB 49.4600 49.5200

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