Currency Calculator by Send Money Home.

GBP Flag
1 GBP = 1.12827 EUR
EUR Flag
1 EUR = 0.8863 GBP

View Providers Switch Currencies

American Federal Reserve set to slow bond buying

SMH advert

Expat and currency transfer update

Pound Sterling

The Pound has fallen to a ten-week low against the US Dollar as economists await the release of data that is expected to show that the UK economy expanded in the first quarter of the year. Against the Euro, Sterling was close to a one-month low. The currency wasn't helped by the Federal Reserve Chairman’s speech to congress that confirmed that the US will continue with its monetary easing policies.

US Dollar

The ‘Greenback’ advanced against most of its most traded peers after Federal Reserve Chairman Ben Bernanke said that the Central Bank could soften its monthly bond buying programme over the next few months if it is confident of sustained gains in the US economy. Against the Euro, the Dollar fell to a one-week low after Bernanke revealed that the US economy remains hampered by high unemployment and budget cuts.

The Euro

The Euro strengthened against the US Dollar after the latest German Purchasing Managers Index reported better-than-expected manufacturing activity in the Eurozone’s biggest economy. Germany’s PMI increased to 49.0 in May after coming in at 48.1 in April. A figure above fifty means growth. The French flash manufacturing Purchasing Managers' Index (PMI) advanced to 44.5 in May, from 44.4 recorded in April, while a reading of 44.7 was expected.

Australian Dollar

The ‘Aussie’ continued its month-long decline after the comments made by Federal Reserve Chairman Ben Bernanke. The currency was also weakened by weaker-than-expected manufacturing data out of China. As a result the ‘Aussie’ fell to an eleven-month low against the US Dollar.

New Zealand Dollar

The ‘Kiwi’ fell to an eight-month low after data out of China showed that the world’s second largest economy saw its manufacturing output shrink in May. HSBC's Purchasing Managers' Index showed a preliminary reading of 49.6 in May, where a reading below 50 indicates contraction, adding to signs China's economy is slowing.

Canadian Dollar

The ‘Loonie’ fell to its lowest level in a year against its US relation after Federal Reserve Chairman Ben Bernanke said that the Central Bank’s monthly bond purchases may be reduced if the economy shows sustained growth. The currency was also not helped by weaker-than-expected retail sales data and a decline in the price of Crude oil, Canada’s biggest export.

South African Rand

The Rand fell below a four-year low after the US Dollar strengthened on the back of comments made by Federal Reserve Chairman Ben Bernanke. The currency is now hovering around its lowest level since March 2009.

© 2017 : All Rights Reserved
Send Money Home Registered Office 334 Southend Road, Wickford Essex SS11 8QS. Trading Office 83 Ducie Street, Manchester M1 2JQ. +44 (0) 844 357 4755 - Email Us