Sterling failed to break above $ 1.5900 level

Published on in Foreign Exchange News by

Market participants await for more news, after we have seen a change in sentiment this week in which the Euro has been the main beneficiary in market moves. German Chancellor Merkel and French President Hollande meet Greek PM Samaras to discuss the expected extension of Greece’s austerity programme.

Reports in the press today state that Spain has begun talks behind closed doors with EU leaders over a multi billion Euro bail-out as their economy continues to slide. This may be enough to stall any further rises for the Euro for the time being having failed to trade above €/$ 1.2600 yesterday and indeed opens lower today (1.2335).

Sterling failed to break above $ 1.5900 level ahead of corporate interest to sell at $ 1.5950 zone and is relatively unchanged versus the Euro. The first two weeks of September will be very interesting, 3 – 7 Sept sees the Troika of EC/ECB/IMF returns to Greece, 12th Sept German vote on legality of sovereign bail-outs, 14th Sept sees Euro group meeting.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.26480 1.26380
GBP/USD 1.58900 1.58400
GBP/CAD 1.57150 1.57500
GBP/NZD 1.94150 1.95350
GBP/AUD 1.51000 1.52500
GBP/AED 5.83450 5.81800
EUR/USD 1.25600 1.25340
GBP/CHF 1.51900 1.51750
GBP/ZAR 13.0800 13.2700
GBP/SEK 10.5400 10.4600
GBP/JPY 124.900 124.600
GBP/PLN 5.13800 5.17750
GBP/SGD 1.97700 1.98200
EUR/PLN 4.06300 4.09500
EUR/CHF 1.20090 1.20100
GBP/MAD 13.9536 13.9300
PLN/EUR 0.24610 0.24420
GBP/CZK 31.5000 31.4800
GBP/DKK 9.42000 9.40800
GBP/HKD 12.3250 12.2800
GBP/HUF 349.450 351.900
GBP/NOK 9.28700 9.24500
GBP/INR 87.6800 87.6600
GBP/THB 49.6000 49.5000

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