Exchange rate news for Sterling

Published on in Foreign Exchange News by

Despite trading within the recent ranges the USD is surprisingly weaker today as reports in the financial press suggest growing speculation that the U.S. Federal Reserve will act sooner rather than later with another round of Q/E.

This news has resulted in the weakening of the USD against a basket of currencies including the Euro where German Chancellor Merkel also reaffirmed their commitment to the single currency yesterday afternoon. We can now expect that in the immediate future the market will probably focus on levels. These are likely to be a break above €/$ 1.2400 and likewise with Sterling based on a weekly close above £/$ 1.5750. However, the longer term downward trend for the Euro is still in place.

Sterling initially strengthened yesterday on stronger than expected retail sales but has weakened against the Euro somewhat as traders covered ‘short’ Euro risk positions. Commodity based currencies are also a little weaker, in particular the Aussie$, after comments from the Australian Treasury that interest rates would be lowered should the level of the AUD be ‘too high’.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.27900 1.27000
GBP/USD 1.57000 1.57180
GBP/CAD 1.55240 1.55120
GBP/NZD 1.93480 1.94360
GBP/AUD 1.49600 1.50410
GBP/AED 5.76480 5.77200
EUR/USD 1.22700 1.23780
GBP/CHF 1.53660 1.52510
GBP/ZAR 12.9625 12.9497
GBP/SEK 10.5220 10.5310
GBP/JPY 124.380 124.535
GBP/PLN 3.32590 5.21400
GBP/SGD 1.96200 1.96430
EUR/PLN 4.08210 4.07710
EUR/CHF 1.20080 1.20100
GBP/MAD 13.9700 14.0783
PLN/EUR 0.24500 0.24530
GBP/CZK 31.8680 31.8588
GBP/DKK 9.52300 9.52030
GBP/HKD 12.1792 12.1807
GBP/HUF 355.930 356.020
GBP/NOK 9.36480 9.38300
GBP/INR 87.5000 87.5836
GBP/THB 49.4530 49.5594

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