httpvh://www.youtube.com/watch?v=cqcnetewnu4
The week ended in relatively quiet fashion, the only major piece of data from Friday was in the form of US retail sales figures. Sales exceeded expectations by more than double the consensus figure of 0.6%, arriving at 1.3% for the month. US equity markets lapped it up, as did the greenback, taking the Euro back into the 1.46’s and holding the 1.62’s against the pound.
The dollar wasn’t alone in its punishment of the euro, sterling also managed to push above the 1.11’s in late trading as the Greek situation provided further headaches for the single currency. Weekend news that the Dubai government would be providing $10bn in support to help Dubai world has helped support the euro in early morning trading.
The euro will stay in the spotlight today, with Industrial Production and Unemployment figures due out in this morning at 10:00. Looking ahead to the week, the Fed interest rate decision may prove to be another important indicator of the direction of the dollar as we move towards the end of the year.
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Latest Exchange Rates At Time Of Writing
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Indicative Rates
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Sell
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Buy
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GBP/EUR
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1.1050
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1.1076
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GBP/USD
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1.6229
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1.6253
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EUR/USD
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1.4668
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1.4689
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GBP/JPY
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143.50
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144.17
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GBP/AUD
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1.7786
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1.7832
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GBP/NZD
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2.2352
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2.2405
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GBP/CAD
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1.7169
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1.7224
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NZD/USD
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0.7245
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0.7271
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GBP/ZAR
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12.13
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12.17
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USD/ZAR
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7.46
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7.50
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GBP/PLN
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4.5605
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4.5877
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EUR/JPY
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129.78
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130.24
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Rates are dependent on amount transacted. Please call 0207 801 9080 for a live rate quote.
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Please feel free to contact me (rick.roache@worldfirst.com) if you have any questions or thoughts regarding these updates or if you are interested in a particular event in the calendar. If you would like to discuss your foreign exchange requirements, please contact our: Corporate Foreign Exchange Team on 020 7801 9050 or our Private Client Currency Exchange Team on 020 7801 9080.
To view any past or present currency blogs please click on the following link www.worldfirst.com/blog.
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Disclaimer: The above comments are only our views and should not be construed as advice. You should act using your own information and judgement. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Any rates given are “interbank” i.e. for amounts of £5million and thus are not indicative of rates offered by World First for smaller amounts. E&OE. Definitions of jargon/market terms can be found in our Glossary of Foreign Exchange Terms.
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