{"id":93,"date":"2010-11-08T11:59:02","date_gmt":"2010-11-08T11:59:02","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=93"},"modified":"2010-11-08T11:59:02","modified_gmt":"2010-11-08T11:59:02","slug":"smart-currency-daily-rates-comments-08-november-2010","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/smart-currency-daily-rates-comments-08-november-2010\/","title":{"rendered":"Smart Currency Daily Rates & Comments – 08 November 2010"},"content":{"rendered":"

EURO\/GBP<\/strong> – 1.157
\nUS$\/GBP <\/strong>\u2013 1.615
\nCHF\/GBP <\/strong>\u2013 1.558
\nCAN$\/GBP <\/strong>– 1.619
\nAUS$\/GBP <\/strong>\u2013 1.594
\nZAR\/GBP <\/strong>\u2013 11.039
\nJPY\/GBP <\/strong>\u2013 131.07
\nHKD\/GBP <\/strong>\u2013 12.524
\nNZD\/GBP \u2013<\/strong> 2.043
\nUS$\/EURO – <\/strong>1.396<\/p>\n

To request a up-to-the minute quotation, call 0808 163 0102 <\/strong>or\u00a0fill out our quote form:\u00a0http:\/\/www.smartcurrencyexchange.com\/quote.aspx<\/p>\n

Sterling strengthened to a 9 month high against the US dollar last week helped by the Bank of England\u2019s decision to keep interest rates and UK Quantitative Easing on hold and helped by a run of better than expected data. The pound jumped to $1.6297\/\u00a31 and gained back lost ground against the euro hitting a high of \u20ac1.1448\/\u00a31. The Bank\u2019s decision not to make any changes was in stark contrast to the USA, where the Fed announced an additional $600bn of further asset purchases in an attempt to jump start the ailing recovery over there. Better than expected services, manufacturing, house price and producer price inflation data all helped give sterling a boost and keep the pound above $1.60\/\u00a31 over the weekend. It is a relatively quiet day for data in the UK today, so call in to speak to take advantage of better US dollar prices, as we are likely to see sterling fall off in the next few months as the impact of the coalition\u2019s spending cuts take effect.<\/p>\n

In the Euro zone, last week the European Central Bank kept interest rates on hold at 1% as expected and ECB president Jean-Claude Trichet made no major announcements regarding future interest rate policy. Over the weekend, Greek Prime Minister George Papandreou ruled out calling a snap parliamentary election after winning enough support in local elections to decide that he could push ahead with the radical austerity programme. The threat of a snap election barely a year after coming to power had unsettled markets and the decision saw an early boost for the euro in Asia, but since then, underlying uncertainty has returned to see the euro flagging in early trading on Monday, so call in now for a live exchange rate.<\/p>\n

In the USA, the US dollar had a week falling against all major currencies. The Federal Reserve\u2019s plan to buy $600bn worth of government bonds was met positively by the markets. By purchasing government bonds, the Federal Reserve has pushed returns on those bonds down, driving investors to seek returns elsewhere. As a result, there is likely to be a return to \u2018carry trading\u2019 \u2013 where investors borrow cheap US dollars and invest in higher risk investments, such as commodities, emerging markets etc. As a result, the US dollar is set to weaken further. In terms of data, it is a relatively quiet day for releases, so call in now to take advantage of the weak US dollar.<\/p>\n

Elsewhere, the Australian dollar hit a 28 year high against the US dollar following the Fed decision last week. Data released today showed that the number of job advertisements in Australia rose 0.6% in October \u2013 the smallest increase in 6 months. This may prove to mute the outlook for the Australian dollar as slower hiring conditions impact the economy further down the road. Call in now and speak to one of the team.<\/p>\n

Remember to minimise the chance of losing money due to adverse movements in the markets by speaking to a currency specialist as early as possible. Call 0207 898 0541.<\/p>\n

If you like our currency comments and wish to publish it or forward it to your clients, please copy and paste the text above and add this link\u00a0 to the end of the text.<\/p>\n","protected":false},"excerpt":{"rendered":"

EURO\/GBP – 1.157 US$\/GBP \u2013 1.615 CHF\/GBP \u2013 1.558 CAN$\/GBP – 1.619 AUS$\/GBP \u2013 1.594 ZAR\/GBP \u2013 11.039 JPY\/GBP \u2013 131.07 HKD\/GBP \u2013 12.524 NZD\/GBP \u2013 2.043 US$\/EURO – 1.396 To request a up-to-the minute quotation, call 0808 163 0102 or\u00a0fill out our quote form:\u00a0http:\/\/www.smartcurrencyexchange.com\/quote.aspx Sterling strengthened to a 9 month high against the US dollar last week helped by […]<\/p>\n","protected":false},"author":3,"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\/93"}],"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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=93"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/93\/revisions"}],"predecessor-version":[{"id":94,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/93\/revisions\/94"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=93"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=93"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=93"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}