Currency Calculator by Send Money Home. Which Foreign Exchange Broker offers the best rate

Flag
1 GBP = 1.09551 EUR
Flag
1 EUR = 0.9128 GBP

View Providers Switch Currencies

Concerns over speed of UK economic recovery

why use a currency broker than your bank

Send money home daily currency update

Pound Sterling

The Pound hit a one-month high against the US Dollar due to an increase in corporate and sovereign demand. The rise comes despite predictions of a gloomy mid-year fiscal report and expectations that Chancellor George Osborne’s autumn statement will say that Britain will take longer-than-thought to deal with its debt and that a recovery will be sluggish in 2013. The Pound hardly reacted to better-than-expected UK manufacturing data, which came in at 49.1, above expectations but below 50, indicating contraction. The currency could suffer losses as economists raise their bets that further quantitative easing could be introduced in an effort to stimulate the economy.

US Dollar

The ‘Greenback’ is trading bearishly against its riskier currency rivals due to the release of a number of positive global economic indicators led to investors buying riskier assets. Today, Dollar traders should be aware of the ongoing ‘fiscal cliff’ talks between US Congressional leaders. Any negative news will generate volatility in the markets and could see the Dollar strengthen; any positives could lead to investors taking risks.

The Euro

The Euro is trading near to a 6-week high against the US Dollar as optimism that the regions troubles can be resolved grew. EU finance ministers are due to meet in Brussels later today to discuss Greece and the other struggling European nations. Against the Japanese Yen the single currency held a three-day gain. The Euro was also boosted by the positive economic data emerging out of China. Today, Euro traders should be aware of the latest Spanish unemployment figures, which are almost certainly going to show a worsening of the nation’s situation and will weigh on the Euro.

Australian Dollar

The ‘Aussie’ has made an increase against the US Dollar after the Reserve Bank of Australia cut interest rates by a quarter of a per cent to 3.0%. The nation’s

interest rates are at their lowest level since September 2009. The gains are expected to be short-lived as doubts over the true strength of the country’s economy creep in. The economy has grown at an annualised rate of 3.1% in the three months through September, a slowdown from 3.7% in the previous quarter.

New Zealand Dollar

The ‘Kiwi’ is little changed against its Australian counterpart as slower-than-expected consumer spending across the region dragged on the currency. After the announcement of the interest rate cut by the Australian Reserve Bank, the ‘Kiwi’ rose in tandem with its Australian relation. The Reserve Bank of New Zealand will reveal its own interest decision on Thursday. Economists are expecting that the bank will choose hold the rate at 2.5%.

Canadian Dollar

The ‘Loonie’ is trading down against the US Dollar due to mixed manufacturing data out of the USA and China. The continuing uncertainty over the ‘fiscal cliff’ negotiations continues and has led to a drag on the Canadian currency. The currency resisted further losses as commodity prices increased

South African Rand

The Rand is expected to remain close to its current levels as the ruling ANC party moves closer to re-appointing President Jacob Zuma as its leader, reducing uncertainty over the country’s leadership. The Rand firmed against the US Dollar after South Africa’s Purchasing Managers Index rose in November, signalling an improvement in the nation’s struggling manufacturing sector.

© 2017 : All Rights Reserved
Send Money Home 83 Ducie Street, Manchester M1 2JQ. +44 (0) 844 357 4755 - Email Us