USD weakened against a basket of currencies

Published on in Foreign Exchange News by

Although nothing has been officially confirmed, growing anticipation of an ECB bond purchasing scheme saw the Euro gain approximately 1 ½% versus the USD, with the market hoping to know more come the next ECB meeting on 6th September.

The Pound also weakened against the Euro after July’s UK Public sector borrowing for July showed a disappointing increase but did however trade in line with the weaker USD sentiment. In fact the USD weakened against a basket of currencies this week hindered further by stock markets holding onto longer term gains reflecting ‘risk on’ sentiment. Later this evening we have the FOMC minutes from the last meeting which will indicate members views over timing of potential further round of Q/E for the USA.

So, technically it does appear that, for the time being at least, the longer term USD positive trend may be over; a weekly close above €/$ 1.2450 and £/$ 1.5750 would confirm this.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.26920 1.26700
GBP/USD 1.57500 1.57800
GBP/CAD 1.55300 1.56300
GBP/NZD 1.93500 1.95000
GBP/AUD 1.49800 1.51000
GBP/AED 5.78470 5.79750
EUR/USD 1.24080 1.24550
GBP/CHF 1.52430 1.52200
GBP/ZAR 13.0120 13.0850
GBP/SEK 10.4600 10.5100
GBP/JPY 125.100 1.25180
GBP/PLN 5.16000 5.15300
GBP/SGD 1.96900 0.0000
EUR/PLN 4.06000 4.06600
EUR/CHF 1.20100 1.20100
GBP/MAD 13.9750 13.9500
PLN/EUR 0.24630 0.24590
GBP/CZK 31.4500 31.4500
GBP/DKK 9.45000 9.43500
GBP/HKD 12.2200 12.2400
GBP/HUF 350.000 350.200
GBP/NOK 9.29000 9.29900
GBP/INR 87.5000 87.4000
GBP/THB 49.5200 49.5500

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