- \n
- Back from the brink: 10 Billion Cyprus bail out approved<\/li>\n
- Holders of deposits of more than \u20ac100,000 face big losses<\/li>\n
- Initial Euro bounce post Cyprus deal runs out of steam<\/li>\n
- Next & AG Barr threaten price hike if sterling continues to plummet<\/li>\n
- South African Rand hits seven week low against GBP<\/li>\n<\/ul>\n
DAILY CURRENCY RATES OVERVIEW\u00a0\u00a0<\/strong><\/p>\n
GBP\/EURO<\/strong> \u2013\u00a01.17103
GBP\/US$<\/strong> \u2013 1.52296<\/p>\nGBP\/INR<\/strong> \u2013 82.4816\u00a0<\/p>\n
GBP\/CAN$<\/strong> – 1.55459\u00a0<\/p>\n
GBP\/AUS$<\/strong> \u2013 1.45471
GBP\/ZAR<\/strong> \u2013 14.0921
GBP\/JPY<\/strong> \u2013\u00a0144.323<\/p>\nGBP\/NZD<\/strong> \u2013 1.82278<\/p>\n
Exchange rates valid at 25 March, 2013 09.35 GMT.\u00a0<\/em><\/p>\n
Making an international money transfer<\/a>?\u00a0<\/span><\/p>\n
Compare money transfer deals and save 3-5 % on your currency exchange with better-than-bank exchange rates. Our currency specialists can save you as much as \u00a33-5000 on every \u00a3100,000 being transferred. Compare & Save today.\u00a0<\/p>\n
Key releases in the next 24 hours that may affect currency date:<\/strong><\/p>\n
Australia: <\/strong>RBA Gov Stevens Announcement<\/p>\n
Europe:<\/strong> No data\u00a0<\/p>\n
United Kingdom: <\/strong>BBA Mortgage Approvals<\/p>\n
New Zealand: <\/strong>Trade Balance<\/p>\n
United States of America:<\/strong> FOMC Member Dudley Speaks, Fed Chairman Bernanke Speaks\u00a0\u00a0<\/span><\/p>\n
GBP<\/strong>\u00a0<\/p>\n
Expect a price hike ! Two of the UK\u2019s biggest companies, Next & AG Barr, have both said they will need to raise prices next year if the pound remains at it\u2019s present levels against USD. The plummeting pound is seen a big risk factor to the cost of production. If that wasn\u2019t enough, Fitch has put the UK on a Rating Watch Negative, meaning a further downgrade could be on the agenda, affecting bond yields.\u00a0 This morning, GBP has seen some strength against USD, hitting a one month high of 1.5269. This can be attributed to positive data on UK house prices, the largest climb in three years.\u00a0<\/p>\n
EUR<\/strong>\u00a0<\/p>\n
Today\u2019s big announcement is that Cyprus has reached a landmark agreement to receive a 10 Billion Euro bailout for its failed banking system. Markets are all set to trade positively off the back of the news, albeit we have seen a limited reaction thus far.\u00a0<\/p>\n
It\u2019s not all rosey in Nicosia however. Standard & Poors cut Cyprus\u2019 sovereign long-term foreign currency credit rating even deeper into junk territory. Their status has been downgraded to CCC from CCC-plus, thus meaning it is more expensive for the country to borrow money.\u00a0<\/p>\n
GBP to\u00a0 EUR<\/strong><\/a><\/span> HISTORICAL EXCHANGE RATES<\/strong><\/p>\n
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<\/p>\nUSD\u00a0<\/strong><\/p>\n
The US Dollar had a dismal end to the week and lost ground against a basket of currencies on Friday. Top of the bill was the Euro, where Cable lost significant ground. The rate did manage to rise back up above the 1.30 levels for a short period.\u00a0<\/p>\n
If you are buying or selling US dollars, brace yourself for a number of events this week to watch out for. The Chairman of the Fed is arriving in the UK to participate in a panel event and as always, his comments will be eagerly heard and acted upon by traders in the City. This week also sees figures on house sales, consumer confidence and unemployment. Stay tuned.\u00a0<\/p>\n
![\"NewImage\"](\"http:\/\/www.mycurrencytransfer.com\/blog\/wp-content\/uploads\/2013\/03\/NewImage1.png\" "\\"NewImage.png\\"")
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