Good morning. The eurozone debt crisis doesn\u2019t show signs of receding, though the hairline of Greek bond investors are rumored to be receding rapidly. European Commission president Jose Manuel Barroso announced today that the commission will soon announce options on the introduction of Eurozone bonds, something Moody\u2019s has already warned against, stating it will receive the weakest member-nation\u2019s (read Greece\u2019s rating).<\/p>\n
Talking of ratings, French banks Credit Agricole SA and Societe Generale suffered downgrade today over their exposure to Greek debt. This is expected to erode investor confidence further and could drive the euro down. Moody\u2019s however, left BNP Paribas untouched saying the bank\u2019s capital base and profitability offers enough cushion against shock losses. An imminent Greek default may well turn out the modern era\u2019s biggest tragedy!<\/p>\n
CURRENCY RATE OVERVIEW<\/strong><\/p>\n EURO\/GBP –<\/strong> <\/span>1.1511 If your currency pairing is not listed above or you want to make an <\/em>international money transfer<\/em><\/strong>, check out our comparison tables at <\/em>www.mycurrencytransfer.com<\/em><\/a><\/p>\n Euro:<\/strong>Sterling lost ground yesterday and was trading below 1.16. UK\u2019s annual inflation was announced at 4.5% and can go up further before coming down in Q1, 2012. Money is getting cheap and the economy recovering on the back of strong exports is fading as UK\u2019s trade deficit widen.<\/p>\n USD:<\/strong>The Sterling slipped to a seven-and-a-half month low against the USD.<\/p>\n The Italian bond auction didn\u2019t do well on Tuesday with rumours of Chinese sovereign wealth fund buying Italian debts failing to cheer the market and yield on the country\u2019s five year bonds were highest since Italy joined euro in 1999. There were rumours that Russia may intervene and buy European bonds, which seems plausible since Europe is Russia\u2019s biggest energy market.<\/p>\n News to look out for today<\/strong><\/p>\n This currency bulletin has been brought to you by MyCurrencyTransfer.com \u2013 the world\u2019s leading foreign exchange price comparison site. If you are looking to make a foreign currency transfer, why not check out our comparison tables at <\/em>www.mycurrencytransfer.com<\/em><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" EXCHANGE RATES AND DAILY MARKET COMMENTARY Good morning. The eurozone debt crisis doesn\u2019t show signs of receding, though the hairline of Greek bond investors are rumored to be receding rapidly. European Commission president Jose Manuel Barroso announced today that the commission will soon announce options on the introduction of Eurozone bonds, something Moody\u2019s has already warned against, stating it will […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[110,3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/1001"}],"collection":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=1001"}],"version-history":[{"count":2,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/1001\/revisions"}],"predecessor-version":[{"id":1170,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/1001\/revisions\/1170"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=1001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=1001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=1001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
US$\/GBP \u2013<\/strong> 1.5729
CHF\/GBP \u2013<\/strong> 1.3861
CAN$\/GBP –<\/strong> 1.5574
AUS$\/GBP \u2013<\/strong> 1.5355
ZAR\/GBP \u2013<\/strong> 11.593
JPY\/GBP \u2013<\/strong> <\/span>120.942
HKD\/GBP \u2013<\/strong> <\/span>12.281
NZD\/GBP \u2013<\/strong> 1.9172
SEK\/GBP \u2013<\/strong> 10.559
US$\/EURO –<\/strong> 1.3662<\/p>\n\n