News that $10bn from Abu Dhabi would be extended to Dubai to help its state holding company pay back some of its mounting debts saw markets head toward risky assets and out of the dollar, stemming its recent rise. The dollar moved back from two month highs against the euro and moved back towards the 1.63’s against the pound.
The euro struggled itself, as Industrial Production figures brought to an end five months of expansion. Employment figures were no better revealing a decline, and underlining the ECB’s view that further pressures remain in the Euro zone
Dovish RBA minutes overnight saw the Aussie weaken a nudge, the Central Bank suggesting that its record three consecutive rises in interest were enacted to provide them some flexibility further down the line
Data today from the UK reveals CPI and RPI figures, from the Eurozone we have ZEW sentiment figures, while the US provides a PPI reading
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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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1.1132
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1.1158
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GBP/USD
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1.6273
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1.6297
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EUR/USD
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1.4604
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1.4625
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GBP/JPY
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144.64
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145.32
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GBP/AUD
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1.7854
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1.7899
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GBP/NZD
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2.2456
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2.2508
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GBP/CAD
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1.7220
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1.7278
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NZD/USD
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0.7230
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0.7256
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GBP/ZAR
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12.10
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12.13
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USD/ZAR
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7.42
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7.46
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GBP/PLN
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4.6231
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4.6507
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EUR/JPY
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129.90
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130.51
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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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