Foreign Exchange Interbank Rates Overnight/Morning Ranges:
Interbank Rates EUR/USD 1.3323-1.3428
Interbank Rates GBP/USD 1.5824-1.5865
Interbank Rates GBP/EUR 1.1803-1.1878
Interbank Rates GBP/AUD 1.5880 GBP/CAD 1.5710 GBP/ZAR 10.79 GBP/NZD 2.0600 GBP/PLN 4.5880 GBP/CHF 1.5280 GBP/CZK 28.80
Big moves yesterday. As expected the ECB left rates unchanged, however at the press conference ECB President Trichet was somewhat more `hawkish’ on inflation and rates. With both bond auctions this week having gone smoothly, the Euro rallied and traded above $1.3300 resistance level with some aggressive buying. The recent USD stronger tone appears to have reversed, and the rise in US unemployment claims did little to help the USD’s cause even though their trade gap narrowed.
Sterling’s gains against the weaker USD continued, £/$ 1.5700-1.6000 looks to be the new range. With the stronger Euro sentiment,the Pound now trading below yesterday’s support at € 1.1850, having been corporate selling interest this week above € 1.2000. A close below this € 1.1850, would target € 1.1600 levels. A report yesterday from the Centre for Economics and Business Research, warned of a double dip in the UK. Although manufacturing has performed well, it is only worth 13% of UK GDP.
EUR/USD currently 1.3415. Support 1.3300, resistance 1.3600.
GBP/USD currently 1.5838. Support 1.5700, resistance 1.6000.
GBP/EUR currently 1.1805. Support 1.1600, resistance 1.1850.
Oil $ 91 Gold $ 1374 Dow -0.2% FTSE -0.4% Nikkei -0.9%
International Foreign Exchange are located at:
52 Brook Street, Mayfair, Greater London, W1K 5DS, United Kingdom
All Rights Reserved: Copyright 2006 - 2017 Compare Money Transfer Limited