{"id":2800,"date":"2013-05-02T09:00:32","date_gmt":"2013-05-02T09:00:32","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2800"},"modified":"2013-05-02T09:05:08","modified_gmt":"2013-05-02T09:05:08","slug":"gbp-heads-for-11-week-high-against-usd","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbp-heads-for-11-week-high-against-usd\/","title":{"rendered":"GBP Heads For 11 Week High Against USD"},"content":{"rendered":"<p><a href=\"https:\/\/plus.google.com\/105158979413685359437\">Daniel Abrahams<\/a><\/p>\n<p>Good morning and welcome to today\u2019s foreign exchange market commentary on Thursday, the 2nd of May.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>GBP heads for 11-week high against USD<\/li>\n<li>Dollar put on hold following USD Federal Reserve FOMC Meeting<\/li>\n<li>ECB Rate Cut Could Boost Euro Value<\/li>\n<li>Australian and New Zealand Dollars drops owing to disappointing China manufacturing data<\/li>\n<li>Japanese Yen buckling under pressure from BoJ stimulus programme<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0 <\/b><\/p>\n<p><b>GBP v EURO \u2013 1.18<\/b><b>23<\/b><\/p>\n<p><b>GBP v USD \u2013 1.55<\/b><b>69<\/b><\/p>\n<p><b>GBP v CHF \u2013 1.44<\/b><b>80<\/b><\/p>\n<p><b>GBP v CAN &#8211; 1.5700<\/b><\/p>\n<p><b>GBP v AUD \u2013 1.5218<\/b><\/p>\n<p><b>GBP v ZAR \u2013 14.0829<\/b><\/p>\n<p><b>GBP v JPY \u2013 151.301<\/b><\/p>\n<p><b>GBP v HKD \u2013 12.0779\u00a0\u00a0 <\/b><\/p>\n<p><b>GBP v NZD \u2013 1.8375<\/b><\/p>\n<p><b>GBP\/SEK \u2013\u00a0 10.1028<\/b><\/p>\n<p><b>GBP Exchange rates valid as on 2013-05-02, 09:24 GMT<\/b><\/p>\n<p><b>Making an international payment? Compare money transfer deals and save 3-5 % on your currency. <\/b>Making an\u00a0<a href=\"http:\/\/www.mycurrencytransfer.com\/\">international money transfer<\/a>? Compare money transfer deals and save 3-5 % on your currency exchange with better-than-bank exchange rates.<\/p>\n<p><b>Key releases in the next 24 hours that may affect foreign exchange rates:<\/b><\/p>\n<p><b>Australia:\u00a0<\/b>AUD AiG Performance of Service Index (APR)<br \/>\n<b>Europe:<\/b>\u00a0European Central Bank Rate Decision, ECB&#8217;s Draghi Holds Press Conference after Rate Decision<br \/>\n<b>United Kingdom:\u00a0<\/b>Construction Purchasing Manager Index (PMI)<br \/>\n<b>New Zealand:\u00a0<\/b>No data<br \/>\n<b>United States of America:<\/b>\u00a0USD Initial Jobless Claim , USD Trade Balance<br \/>\n<b>China:<\/b> CNY Non-Manufacturing PMI<br \/>\n<b>Canada<\/b>: International Merchandise Trade Data<\/p>\n<p><b>GBP Heads For 11 Week High Against USD<\/b><\/p>\n<p>GBP has strengthened yesterday after approaching 11-week highs against the US Dollar after an industry report indicated that UK housing data remained unchanged since April when a decline in real estate prices was observed. On a year-by-year basis, house prices improved by 0.9% which is the biggest annual increase in housing data in over 14 months.<\/p>\n<p><b>Dollar On Hold Following Fed Meeting<\/b><\/p>\n<p>The all-important Federal Open Market Committee (FOMC) rate decision in the last trading session was a disappointment as it did not lead to any volatility in dollar trading levels. The Fed\u2019s decision to hold is however an indication that its $85 billion-per-month stimulus program remains in place.<\/p>\n<p><b>Euro could see boost following ECB rate cut<\/b><\/p>\n<p>With the European Central Bank&#8217;s monthly meeting coming up today, the euro has been strengthening on the back of rate cut expectations. Normally a rate cut speculation would lead to pressure on the currency in question, but many analysts have indicated over the past month that since the weak Eurozone economy has pushed down the Euro&#8217;s value and a decision to cut rates will be seen as a step towards economic growth in the region.<\/p>\n<p><b>AUD weakens owing to poor Chinese manufacturing data<\/b><\/p>\n<p>The Australian and New Zealand dollar showed signs of bucking under pressure from the release of China\u2019s manufacturing sector data. The manufacturing data release indicated growth slowdown in April in the world\u2019s largest manufacturing industry.<\/p>\n<p><b>JPY buckling under pressure from BOJ stimulus programme<\/b><\/p>\n<p>The yen gained some ground but remained quiet against the USD as both Japan and the US had recent mixed data showing signs of a pressured economy.\u00a0 As such the yen remains under under pressure from the Bank of Japan\u2019s new stimulus measures and investor expectations for the currency to reach 100 continue.\u00a0 The minutes from the Monetary Policy Meeting of the Bank of Japan published last night indicated that BOJ members agreed that the economy has shown signs of picking up. Japan also announced a monetary base of 23.1% in April as compared to the initial figure of 19.8% announced in March.<\/p>\n<p><i>Going on holiday? Compare travel money deals with our sister site <\/i><a href=\"http:\/\/www.mytravelmoney.co.uk\">mytravelmoney.co.uk<\/a><\/p>\n<p>Have a great day!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Daniel Abrahams Good morning and welcome to today\u2019s foreign exchange market commentary on Thursday, the 2nd of May.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP heads for 11-week high against USD Dollar put on hold following USD Federal Reserve FOMC Meeting ECB Rate Cut Could Boost Euro Value Australian and New Zealand Dollars drops owing to disappointing China manufacturing [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[110,3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2800"}],"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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=2800"}],"version-history":[{"count":5,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2800\/revisions"}],"predecessor-version":[{"id":2805,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2800\/revisions\/2805"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}