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

Flag
1 GBP = 1.08716 EUR
Flag
1 EUR = 0.9198 GBP

View Providers Switch Currencies

Euro troubles elevating US dollar

options instead of using a bank

Send money home daily currency update

Pound Sterling

The Pound fell close to a six-week low against the US Dollar due to speculation that the Bank of England could ease its monetary policy by as soon as today. The Bank of England will announce its decision regarding interest rates as well. Economists are predicting that the Bank will decide to keep the rate unchanged.

The currency is also vulnerable to further falls after a string of reported stop-loss orders was triggered as it fell below the January 7th low of $1.602.

US Dollar

The ‘Greenback’ has strengthened against its riskier and safe-haven currency rivals due to the release of disappointing German economic data, and speculation over future monetary easing in Japan which boosted demand for the Dollar. Against the Pound the Dollar came close to a six-week high as traders took a more risk adverse approach to the UK currency.

Today, Dollar traders will want to be aware of potentially volatile news out of the Eurozone and the latest US unemployment claims figures. The figure is expected to come in at 361,000, slightly below last week's 372,000. A lower-than-expected result today, would signal improvements in the US labour market and may result in Dollar gains during afternoon trading.

The Euro

The Euro took losses against most of its currency rivals due to the release of disappointing data out of Germany. The country’s worse-than-expected industrial production figure raised fears that the EU is sliding deeper into recession.

Today, Euro traders should be aware of the European Central Bank press conference due to be held this afternoon. Most analysts are predicting that the Bank will choose to maintain the current interest rate of 0.75%. If a surprise cut takes place then the Euro could sustain heavy losses.

Australian Dollar

The ‘Aussie’ has hit a four-year against the Japanese Yen and a three-week high against the US Dollar due to Chinese data showing that imports rose to a record level in the nation’s biggest trade partner. China’s exports rose by 14.1% in December, whilst imports increased by 6%, leaving a trade surplus of $31.6 billion.

New Zealand Dollar

The ‘Kiwi’ followed a similar pattern to its Australian cousin as it climbed to its highest level in more than four years against the Japanese Yen on the back of the Chinese trade deficit data.

Against its other currency rivals the ‘Kiwi’ made little movement as the country posted a report that showed that its annual trade deficit swelled to its widest level in more-than three years in November as imports rose to a four-year high and a rising currency curbed returns from exports.

Canadian Dollar

The ‘Loonie’ has hit a three-week high against the Euro due to speculation that the European Central Bank will maintain its record low interest rate level. ECB President Mario Draghi is expected to maintain the bank’s rate target at 0.75 percent, where it’s been since July 2012.

South African Rand

The Rand has weakened for a second day as investors remain nervous over the latest bout of labour protests to hit the country. Hundreds of farm workers in South Africa’s main fruit producing region have begun a second day of protests.

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