Personal Money Transfers

Personal and Private Money Transfers payments over £5000.

Business Money Transfers

Make currency exchange payments for your business. Better rates than a bank.

Banking Exchange Rates

High St Banks or Currency Brokers? Cheapest way to send money overseas.

Cheapest Way to Transfer

Cheapest Way to Transfer Funds Internationally secure and safe transfers

ECB plan to ease the debt crisis

Published on 9 February 2017 in News - Pages by Raffick Marday

Daily Currency update Pound Sterling

The Pound has slipped against the Dollar as traders remain cautious ahead of Federal Reserve chairman Ben Bernanke’s speech later today. It is expected that Bernanke will hold off on implementing a new round of quantitative easing but many are reluctant to bet against that. The Pound is trading steadily against the Euro as the world waits to see the outcome of the Federal speech and whether the European Central Bank will stick to its plan to ease the debt crisis. Traders are wary over the health of the Pound due to weak economic data out of the UK with some believing that the Bank of England may be forced into taking further monetary easing measures.

Currently, the Pound is trading in the region of 1.260 against the Euro and 1.577 against the US Dollar.

US Dollar
The US Dollar has remained in a holding pattern against a number of its counterparts as the markets await the speech from the Federal Reserve. The currency saw an upward revision yesterday thanks to better-than-expected second quarter growth figures. The ‘Greenback’ held onto those gains despite the dull picture of the economy given by the Beige Book, released later in the day.

Currently, the US Dollar is trading in the region of 0.633 against the Pound and 0.799 against the Euro.

European Central Bank plan to ease the debt crisis

The Euro
The Euro has declined for the second day in a row after Spanish Prime Minister Mariano Rajoy said that his government would delay on deciding whether his government will appeal for a sovereign bailout until the conditions are made clear by the European Central Bank.
The single currency came close to an eight-week high after Chinese Prime minister Wen Jiabao pledged to consider purchasing European bonds. Italy’s declining borrowing costs also raised optimism over the Euro.

Currently, the Euro is trading in the region of 0.792 against the Pound and 1.251 against the US Dollar.

Australian Dollar

The Australian Dollar has weakened further after iron ore prices fell to new lows and as investors remain nervous ahead of a critical week for international events and local data releases. The markets are awaiting the Federal Reserve speech due later today but once that it is released the focus will quickly switch to Europe where the European Central Bank is widely tipped to unveil a major new push to stem the debt crisis.

Currently, the Australian Dollar is trading in the region of 0.652 against the Pound, 0.822 against the Euro and 1.030 against the US Dollar.

ECB plan to ease the debt crisis

New Zealand Dollar
Fears over a weakening China and fading expectations for further US stimulus has seen the ‘Kiwi’ stumble to a 1.2% decline. Traders will be looking at China's manufacturing figures on Saturday with a slump in iron ore prices sparked fears the world's second-biggest economy will continue to slow in the third quarter. China is a major trade partner for New Zealand but the biggest for Australia. If one weakens then the effect spreads like falling dominos in the Oceanic region.

Currently, the New Zealand Dollar is trading in the region of 0.507 against the Pound, 0.639 against the Euro and 0.799 against the US Dollar.

Canadian Dollar

The ‘Loonie’ has slipped against the Dollar due to poor economic data out of North America and renewed concerns over the Euro crisis caused investors to be cautious ahead of today’s Federal Reserve speech. Renewed worries Europe's debt crisis letting to a broad strengthening of the U.S. Dollar following comments from French and Spanish policymakers and an auction of Italian debt that placed additional pressure on the European Central Bank to enact some form of policy action at its meeting next week. The falling price of some commodities also led to a weakening.

Currently, the Canadian Dollar is trading in the region of 0.638 against the Pound, 0.805 against the Euro and 1.008 against the US Dollar.

Recent Posts

» «

Leave a comment

Bank Currency Calculator

GBP Flag

1 = 1.17730

Euro Flag

1 = 1.17730

Change Currencies View Providers

© 2018All Rights Reserved: Banking Exchange Rates. Address: 83 Ducie Street, Manchester M1 2JQ. +44 (0) 844 357 4755 - Email Us