President Obama announces US deficit is over $16 trillion barrier

Published on in Foreign Exchange News by
The Federal Reserve last night announced a dramatic new rescue package for the fragile US economy, Q/E 3.

They will pump $40 billion into the economy per month via mortgage backed securities and said interest rates will be held close to zero until 2015. Politically, ahead of the US elections this will be viewed as a big risk for President Obama as the US budget deficit recently broke through the $16 trillion barrier.

As a result global stocks have continued aggressive gains and the USD is weaker having opened above the €/$ 1.3000 level. The main beneficiary is the Euro against a broad range of currencies having now gained 7% against the USD in the last six weeks. Sterling has also held onto its gains versus the USD but weaker versus the Euro where there remains corporate buying interest for the Pound ahead of € 1.2400.

Sentiment has changed, and any USD rally is likely to be sold into by the speculative community.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.24650 1.24180
GBP/USD 1.61170 1.61880
GBP/CAD 1.57420 1.56380
GBP/NZD 1.96280 1.93890
GBP/AUD 1.54410 1.52850
GBP/AED 5.91780 5.94520
EUR/USD 1.29150 1.30330
GBP/CHF 1.50720 1.51350
GBP/ZAR 13.3857 13.5294
GBP/SEK 10.5694 10.6168
GBP/JPY 125.296 125.073
GBP/PLN 5.10500 5.12310
GBP/SGD 1.97630 1.98050
EUR/PLN 4.09270 4.10590
EUR/CHF 1.20830 1.21300
GBP/MAD 13.8498 13.8542
PLN/EUR 0.24430 0.24360
GBP/CZK 30.4852 30.5471
GBP/DKK 9.29790 9.30010
GBP/HKD 12.4742 12.4925
GBP/HUF 353.411 353.771
GBP/NOK 9.23910 9.25700
GBP/INR 88.8400 89.2844
GBP/THB 49.8017 49.9682

Recent Posts

» «

Comments are closed.

Live Currency Calculators

1 GBP = 1.12054 EUR

1 EUR = 0.8924 GBP

Change Currencies

Free Currency Calculators Mobile App

Best iTunes currency converter mobile app

Free iTunes Mobile AppiTunes currency calculator mobile app for free. Find live currency exchange rates for your iPhone or iPad.

Best Google Play currency converter mobile app

Free Google Play Mobile AppGoogle Play currency calculators mobile app for Android phone. Free on google play getting live interbank exchange rates.

© 2017 Currency Calculators App | : All Rights Reserved : Google Currency Calculators - Bing Currency Converter- Yahoo Currency Calculators