Euro weakness continues to strengthen the Sterling

Why use a broker instead of a bank

Foreign Exchange Overnight/Morning Ranges:

Currency EUR/USD 1.3969-1.4134

Currency GBP/USD 1.6108-1.6233

Currency GBP/EUR 1.1515-1.1540

Not a good start to the week for the Euro. Spanish socialists lose heavily in the local elections as demonstrations on the state of the economy continued over the weekend, a rating review for Italy and more meetings over the Greek refinancing schedule with E.U officials this week.

Having closed below €/$ 1.4200 Friday, it is now looking like the Euro weakness will again continue this week. As a result Sterling has climbed to above € 1.15 and opens just below $ 1.62 on the strengthening USD. Euro debt contagion fears return yet again.

Today is going to be all equity and debt market related with global markets all sharply lower on opening while Eurozone bond yields soar. We have seen the yield on German 10-year bunds test the 3% level whilst the returns on peripheral Eurozone equivalent bonds rose sharply. The Euro itself is sharply weaker all round and it will be a long week for the single currency.

EUR/USD currently 1.3995. Support 1.3900, resistance 1.4200.

GBP/USD currently 1.6125. Support 1.6000, resistance 1.6300.

GBP/EUR currently 1.1523. Support 1.1350, resistance 1.1600.

Oil $ 98.0 Gold $ 1508

Dow -0.74% FTSE -0.13% Nikkei -1.52%

Company Details

Euro weakness continues to strengthen the Sterling

Get a quick quote

Open Account with Moneycorp

Moneycorp are located at:
The Zig Zag Building, 70 Victoria Street, Greater London, SW1E 6SQ, United Kingdom

Get a Quick Quote

Newsletter Signup to CMT

Sign up to our foreign exchange newsletter to receive news updates directly by email

Compare Money Transfer will not Share your details!

Bank Exchange Rates Comparison

High St Bank Exchange Rate

All Rights Reserved: Copyright 2006 - 2018 Compare Money Transfer Limited offering FCA Regulated Suppliers - 34 New House, 67-68 Hatton Garden, London, EC1N 8JY. +44 (0) 843 357 4882