EURO\/GBP – 1.1842
US$\/GBP \u2013 1.6154
CHF\/GBP \u2013 1.5288
CAN$\/GBP – 1.5991
AUS$\/GBP \u2013 1.5846
ZAR\/GBP \u2013 11.7575
JPY\/GBP \u2013 131.777
HKD\/GBP \u2013 12.577
NZD\/GBP \u2013 2.0868
SEK\/GBP \u2013 10.4330
US$\/EURO – 1.3638<\/p>\n
Sterling<\/span> continued its run against the US dollar yesterday, hitting a high of $1.6276\/\u00a31 after services PMI data came in stronger than expected indicating strong services sector activity. With this week\u2019s better than expected manufacturing, construction and now services figures; the case for an interest rate hike has returned. Comments from Bank of England policy makers this week have also given rise to an expectation of further hikes \u2013 especially if commodity prices remain high.\u00a0Sterling\u00a0is likely to remain well supported against the US dollar \u2013 especially ahead of next week\u2019s Bank of England meeting. The outlook against the euro is a bit more mixed, with flow related to the debt crisis and risk appetite keeping sterling on its toes. <\/span><\/p>\n In the euro zone, yesterday saw the European Central Bank\u2019s interest rate decision. The bank kept interest rates on hold and disappointed many investors who were expecting a more upbeat press conference from Bank President Jean-Claude Trichet. There had been warnings in the last few weeks over inflation in the region and as a result, many had been expecting talk of interest rate hikes. The euro fell by 2 cents against the US dollar on the day as traders sold the euro in disappointment.<\/span><\/p>\n