{"id":574,"date":"2011-01-18T10:34:07","date_gmt":"2011-01-18T10:34:07","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=574"},"modified":"2011-01-18T10:34:09","modified_gmt":"2011-01-18T10:34:09","slug":"smart-currency-exchange-euro-falls-across-the-board-after-ecb-reassessment-18012011","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/smart-currency-exchange-euro-falls-across-the-board-after-ecb-reassessment-18012011\/","title":{"rendered":"Smart Currency Exchange: Euro falls across the board after ECB reassessment [18\/01\/2011]"},"content":{"rendered":"

Sterling\u00a0jumped to an 8 week high against the US dollar and moved up against the euro after speculation that the Bank of England could raise interest rates as early as May. Sterling hit $1.5953\/\u00a31 and \u00801.1974\/\u00a31 as traders speculated that tomorrow\u2019s Consumer Price Inflation could show inflation close to 4% – 2% above the Bank of England\u2019s target level. The dilemma being faced by policy makers is that any interest rate hike could dent the\u00a0UK\u2019s fragile recovery \u2013 especially as the recent VAT hike and cuts have yet to take full effect. A higher than expected CPI figure is likely to see further sterling strength later today so ensure you call in now for a live exchange rate.<\/p>\n

In the euro zone, the euro fell broadly yesterday after investors reassessed ECB President Jean-Claude Trichet\u2019s call for interest rate rises last week and also saw that no \u2018quick-fix\u2019 was to be put in place for the euro zone\u2019s bail out fund. The majority of finance ministers in the region today called for an increase in the lending capacity of the emergency fund to \u0080700bn, but Germany was reluctant to push through urgent changes citing a calmer bond market and an aim to discuss \u2018anti-crisis measures\u2019 in more depth in March.\u00a0Germany\u00a0clearly does not want to increase the rescue fund, and as such sentiment towards the single currency slipped. Out today, there are economic sentiment figures for the region, so call in now for a live exchange rate.<\/p>\n

Trading conditions were pretty thin in the\u00a0USA\u00a0with a public holiday, but off the back of euro weakness, the US dollar was up 0.65% against the euro but dipped against sterling on interest rate expectations. It did not see much reaction to comments from top Federal Reserve official Charles Plosser who did not rule out an interest rate rise in 2011 \u2013 it seems everyone wants to jump on the interest rate hike bandwagon. Out today, we have some manufacturing data and figures on foreign investment into the\u00a0USA, so call in now for a live exchange rate.<\/p>\n

Elsewhere, on the eve of Chinese President Hu Jintao\u2019s visit to the\u00a0USA\u00a0for a summit with President Obama, a group of senators are looking to re-introduce a bill to combat\u00a0China\u2019s currency policies. Senator Charles Schumer said that the artificially low exchange rate was like a \u201cboot on the throat\u201d to the\u00a0US\u00a0economic recovery as it gave Chinese exporters an unfair advantage over their\u00a0UScounterparts by artificially keeping the goods cheaper internationally.<\/p>\n

EURO\/GBP – <\/strong>1.1960 <\/strong><\/span>
US$\/GBP<\/span><\/strong> \u2013 1.5971
CHF\/GBP<\/strong> \u2013 1.5315
CAN$\/GBP<\/strong> – 1.5722
AUS$\/GBP<\/strong> \u2013 1.6002
ZAR\/GBP<\/strong> \u2013 10.9607
JPY\/GBP<\/strong> <\/span>\u2013\u00a0131.74
HKD\/GBP<\/strong> \u2013\u00a012.4209
NZD\/GBP<\/strong> \u2013 2.0674
SEK\/GBP<\/strong> \u2013 10.6525
US$\/EURO<\/strong> – 1.3350<\/span><\/p>\n


<\/span><\/p>\n

To request a up-to-the minute quotation, fill out our quote form: http:\/\/www.mycurrencytransfer.com\/apply\/Smart Currency Exchange<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sterling\u00a0jumped to an 8 week high against the US dollar and moved up against the euro after speculation that the Bank of England could raise interest rates as early as May. Sterling hit $1.5953\/\u00a31 and \u00801.1974\/\u00a31 as traders speculated that tomorrow\u2019s Consumer Price Inflation could show inflation close to 4% – 2% above the Bank of England\u2019s target level. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,21],"tags":[33],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/574"}],"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=574"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/574\/revisions"}],"predecessor-version":[{"id":575,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/574\/revisions\/575"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}