{"id":2868,"date":"2013-05-27T04:07:06","date_gmt":"2013-05-27T04:07:06","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2868"},"modified":"2013-05-27T04:07:42","modified_gmt":"2013-05-27T04:07:42","slug":"vulnerable-gbp-dips-on-boe-stimulus-speculation","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/vulnerable-gbp-dips-on-boe-stimulus-speculation\/","title":{"rendered":"Vulnerable GBP dips on BoE stimulus speculation"},"content":{"rendered":"<p><b><a href=\"https:\/\/plus.google.com\/111687047260609547765\/posts\">Sinduja Venkat<\/a><\/b><\/p>\n<p>Good morning and welcome to today\u2019s foreign exchange market commentary on 27th 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 vulnerable on BoE stimulus speculation<\/li>\n<li>EUR advances on optimistic Germany survey results<\/li>\n<li>USD unmoved despite positive Durable Goods data<\/li>\n<li>Yen advances on BoJ stimulus move<\/li>\n<li>CAD dips on declining oil prices<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0 <\/b><\/p>\n<p><b>GBP\/EURO \u2013 <\/b>1.1702<br \/>\n<b>GBP\/USD \u2013 <\/b>1.5134<br \/>\n<b>GBP\/CHF \u2013 <\/b>1.4551<br \/>\n<b>GBP\/CAD &#8211; <\/b>1.5629<br \/>\n<b>GBP\/AUD \u2013 <\/b>1.5696<br \/>\n<b>GBP\/ZAR \u2013 <\/b>14.5019<br \/>\n<b>GBP\/JPY \u2013 <\/b>153.291<br \/>\n<b>GBP\/HKD \u2013 <\/b>11.7492<br \/>\n<b>GBP\/NZD \u2013 <\/b>1.8705<br \/>\n<b>GBP\/SEK \u2013 <\/b>10.0522<\/p>\n<p><i>Mid-market rates as of 2013-05-27 02:22 UTC<\/i><\/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 currency date:<\/b><\/p>\n<p><b>Australia:\u00a0<\/b>No Data<br \/>\n<b>Europe:\u00a0<\/b>CHF Trade Balance (Swiss franc) (APR)<br \/>\n<b>United Kingdom:\u00a0 <\/b>No Data<br \/>\n<b>New Zealand:\u00a0<\/b>No Data<br \/>\n<b>United States of America:\u00a0USD Consumer Confidence (MAY)<\/b><br \/>\n<b>China: <\/b>CNY Leading Index (APR)<br \/>\n<b>Canada: <\/b>No Data<br \/>\n<b>Japan: <\/b>JPY Small Business Confidence (MAY), JPY Large Retailers&#8217; Sales (APR), JPY Retail Trade (YoY) (APR)<\/p>\n<p><b>GBP vulnerable on BoE stimulus speculation<\/b><\/p>\n<p>GBP dipped against the greenback on Friday after disappointing data on mortgage approvals as reported by the British Banker\u2019s association that this figure rose by 32,200 last month lower than the expected rise of 32,700 following an increase of 31,400 in March. This release raised further speculation on the likelihood of further quantitative easing from the Bank of England. The sterling continues to be vulnerable to the possibility that new BoE Governor Carney could back further monetary stimulus and this move would further weaken the currency.<\/p>\n<p><b>EUR advances on optimistic Germany survey results<\/b><\/p>\n<p>EUR advanced against the USD following an optimistic data release suggesting that Europe\u2019s largest economy is showing signs of improvement. Surveys from Germany indicated that the business climate index improved at 105.7 in May rising from last month\u2019s 104.4 which has caused German bond futures to display gains. Recently wages have been increased in Germany and consequently German consumers are spending more, a reversal in trend since September 2007, during the subprime crisis.<\/p>\n<p><b>USD unmoved despite positive Durable Goods data<\/b><\/p>\n<p>USD tumbled against its peers at the end of last week despite positive US durable goods data coming in. Durable goods orders increased 3.3% in April higher than the expected level of 1.5%. US stocks dipped lower for the third consecutive session after the surprising gains in durable goods orders served to increase investors\u2019 concerns about the pace of the Fed\u2019s stimulus efforts.<\/p>\n<p><b>\u00a0Y<\/b><b>en advances on BoJ stimulus move<\/b><\/p>\n<p>Yen advanced to session highs over the 101 level against the USD following BoJ\u2019s move to pump 2 trillion yen into its financial system to offset the imminent rise in bond yields. The 10-year Japanese government bond yield had breached its highest level in a year at 0.845%.<\/p>\n<p><b>CAD dips on declining oil prices<\/b><\/p>\n<p>CAD slumped against the USD in response to the overall trend of weaker global equity markets and commodities at the end of last week. Canada\u2019s biggest export is oil, and its price continued to drop for the second session causing the CAD to fall 1% last week.<\/p>\n<p><i>Going on holiday? Compare travel money deals with our sister site mytravelmoney.co.uk<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sinduja Venkat Good morning and welcome to today\u2019s foreign exchange market commentary on 27th of May.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP vulnerable on BoE stimulus speculation EUR advances on optimistic Germany survey results USD unmoved despite positive Durable Goods data Yen advances on BoJ stimulus move CAD dips on declining oil prices CURRENCY RATES OVERVIEW\u00a0 GBP\/EURO \u2013 [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2868"}],"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\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=2868"}],"version-history":[{"count":3,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2868\/revisions"}],"predecessor-version":[{"id":2871,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2868\/revisions\/2871"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}