The FX week closed Friday in a rather subdued fashion with the week’s trend of dollar selling continuing. USD was able to regain some composure after Michigan Consumer Confidence was released much better than expected. If we start to see US consumer confidence increase alongside American retail sales then that green shoot is one to definitely nurture.
UK PPI was also released Friday at a slightly higher reading than estimated. This would set us up for a strong CPI reading tomorrow and could give GBP a further punch higher if its recent reactions to its own data is anything to go by.
Dollar crosses have fallen off the highs this morning after a news article reporting on a potential tariff war between the US had elevated risk aversion.
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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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1.1376
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1.1403
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GBP/USD
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1.6564
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1.6589
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EUR/USD
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1.4543
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1.4564
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GBP/JPY
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150.00
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150.42
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GBP/AUD
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1.9280
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1.9328
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GBP/NZD
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2.3680
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2.3739
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GBP/CAD
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1.7939
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1.8001
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NZD/USD
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0.6983
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0.7005
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GBP/ZAR
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12.40
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12.45
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USD/ZAR
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7.47
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7.51
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GBP/PLN
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4.7884
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4.8169
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EUR/JPY
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131.76
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132.05
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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 (jeremy.cook@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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