South African rand becomes longest running currency to gain

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Foreign Exchange Overnight/Morning Ranges:

Rate EUR/USD 1.4459-1.4541
Rate GBP/USD 1.5990-1.6085
Rate GBP/EUR 1.1050-1.1083

The South African rand was on track for the longest run of gains against the US dollar for a year as risk appetite drove demand for the higher yielding ‘riskier’ currency following the approval of the EU payout for Greece. In addition, the Swiss franc fell after retail sales slumped by 4.1% in May from a year earlier. Call in now for a live price

The USD a little firmer this morning after S & P ratings agency stated that changing the terms on the Greek debts when they come up for repayment would `likely amount to a default under our criteria’.

Also news overnight that the Finland finance minister wants new guarantees against participation in a new bailout. European politics wrangle on as we approach the summer trading period. Sterling is still trading with a weaker tone as current fundamentals do not bode well for the Pound, these being low interest rates and the weaker economic data.

EUR/USD currently 1.4478. Support 1.4300, resistance 1.4500.

GBP/USD currently 1.6012. Support 1.6000, resistance 1.6300.

GBP/EUR currently 1.1058. Support 1.0850, resistance 1.1100.

Rate GBP/AUD 1.4967
Rate GBP/CAD 1.5400
Rate GBP/ZAR 10.75
Rate GBP/NZD 1.9326
Rate GBP/PLN 4.3600
Rate GBP/CHF 1.3550
Rate GBP/CZK 26.82

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South African rand becomes longest running currency to gain

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