Friday, 15 April 2011

Pound up against weaker Euro

15th April 2011
Good morning. Sterling rose against the euro yesterday as investors dumped the single currency on speculation Greece may have to restructure its debts. This weakened the Euro making it more expensive to purchase. At 08:30am this morning rates are as follows:
  • GBP/EUR 1.1289
  • GBP/USD 1.6364
  • GBP/AUD 1.5545
  • GBP/NZD 2.0587
  • GBP/CAD 1.5735
  • GBP/CHF 1.4605
  • GBP/ZAR 11.179
  • GBP/JPY 136.08
  • GBP/NOK 8.8277
  • GBP/HUF 301.20
  • EUR/USD 1.4492
Euro weakens

There was worry yesterday over the possibility that Greece might need to restructure its massive public debt. This follows a bailout request from Portugal last week. This weakened the Euro making it cheaper to purchase, and GBP/EUR rates rose as a result.

Sterling flat

Traders said a lack of major UK economic data meant sterling was being driven by movements in other major currencies. It rose against a broadly weak dollar.

Today's Data

Once again we’re quiet on the UK side. From the EU we have trade balance and a raft of inflation data. From the US there are also inflationary measures being released, in addition to Industrial Production.

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