Volume was low yesterday as expected with both the US and UK observing bank holidays however dollar continues to stay on the back foot.
Euro is expected to push higher today with momentum on its side in its cross against the dollar and analysts predicting a weak BBA mortgage approvals figure.
The German economy also provided a fillip for the single currency as figures released this morning showed that the growth rate rose to 1.5% in Q1. This further enforces concerns that the ECB will not be cutting rates any time soon.

Today’s Data
UK: 09.30 BBA Mortgage Approvals
Expected: 35.4
Previous: na
US: 14.00 Consumer Confidence
Expected: 62.3
Previous: 61.0
US: 14.00 New Home Sales
Expected: 520K
Previous: 526k
Indicative Rates
Sell Buy
GBPEUR 1.2545 1.2573
GBPUSD 1.9767 1.9791
EURUSD 1.5745 1.5767
GBPJPY 204.47 206.57
GBPAUD 2.0596 2.0646
GBPNZD 2.5077 2.5128
GBPCAD 1.9602 1.9654
GBPZAR 15.15 15.14
USDZAR 7.65 7.68
GBPPLN 4.2524 4.2768
Rates are dependent on amount transacted
Please call 0207 801 9080 for a live rate quote

Email: (jeremy.cook@worldfirst.com) Please feel free to contact me at anytime regarding these briefings, if you have any questions or thoughts on them, or if you are interested in a particular event in the calendar.Please call us on 0800 783 6022 / +44 20 7801 9080 if you would like to discuss the markets or fix a rate.

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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 authors own judgement as of the date of the briefing and are subject to change without notice.

Any rates given are interbank and therefore for amounts of £5million and so are not indicative of rates offered by World First for smaller amounts.

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