Currency Calculator by Send Money Home.

GBP Flag
1 GBP = 1.12817 EUR
EUR Flag
1 EUR = 0.8864 GBP

View Providers Switch Currencies

Currencies sour as Bank of Japan introduce more Quantitative Easing

why use a currency broker than your bank

Sending currency home is now cheaper than ever read our latest send money home daily currency update

Pound Sterling

Sterling continues to strengthen against the US Dollar and investors are predicting that the currency pair could soon reach its highest level this year. Today sees the release of the latest minutes from the Bank of England. If the report shows that there were any votes for further quantitative easing then the Pound could suffer a knock as the markets take bets that the BoE will introduce a new round of QE in November.

Sterling also hit a four-month high against the Yen of 128.81 after the Bank of Japan stepped-up its own asset purchase programme by a larger-than-expected 10 trillion Yen ($126 billion).

Currently the Pound is trading in the region of 1.245 against the Euro and 1.625 against the US Dollar.

US Dollar

The ‘Greenback’ continues to weaken against the Pound due to the increased demand for riskier currencies as a result of the Federal Reserve’s decision to implement an open ended round of monetary easing. The Dollar hit a one-month high against the Japanese Yen after the Bank of Japan introduced a larger-than- expected round of Quantitative Easing.

Currently the US Dollar is trading in the region of 0.614 against the Pound and 0.765 against the Euro.

The Euro

The Euro has made gains against the US Dollar and British Pound due to the Bank of Japan’s decision to implement a new round of Quantitative Easing. The move weakened the Yen but also boosted risk sentiment causing the Euro to reverse some of yesterday’s losses.

Currently the Euro is trading in the region of 0.803 against the British Pound and 1.306 against the US Dollar.

Australian Dollar

The ‘Aussie’ is trading higher after the Bank of Japan announced new steps to support the country’s slowing economy. The BoJ’s policy board decided to increase the size of its asset purchase program - its main tool for monetary easing with interest rates near zero - to Y80 trillion from Y70 trillion, and extend the deadline of the program by six months to the end of 2013. Investors were encouraged by yesterday’s Reserve Bank of Australia’s minutes as it revealed that the Bank would consider cutting interest rates in the near future.

Currently the Australian Dollar is trading in the region of 0.642 against the Pound, 0.800 against the Euro and 1.046 against the US Dollar.

New Zealand Dollar

The ‘Kiwi’ has risen against the Euro as traders continue to speculate on whether Spain will go cap in hand to the European Central Bank and seek a financial aid. A report on the state of Spain’s finances is expected to show a widening deficit. The New Zealand Dollar rose to 63.40 Euro cents from 63.16 cents. Against the Japanese Yen the ‘Kiwi’ hit a four-month high due to the BoJ announced a new round of Quantitative Easing.

Currently the New Zealand Dollar is trading in the region of 0.510 against the Pound, 0.634 against the Euro and 0.829 against the US Dollar.

Canadian Dollar

The ‘Loonie’ has ended its two-day run of declines against the US Dollar after trading close to a new 13-month high. The Canadian currency gained even as crude oil tumbled for a second day after the Reserve Bank of Australia warned of slowing growth in China, falling commodity prices and a global economy still subject to significant downside risks. The ‘Loonie’ is expected to weaken over the next few days as a result.

Currently the Canadian Dollar is trading in the region of 0.632 against the Pound, 0.786 against the Euro and 1.028 against the US Dollar.

© 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