Currency Calculator by Send Money Home.

GBP Flag
1 GBP = 1.14892 EUR
EUR Flag
1 EUR = 0.8704 GBP

View Providers Switch Currencies

Markets favour riskier assets over the safe-haven Dollar

Send Money Home Daily Currency update

Pound Sterling

The Pound rose toward a three-month high against the US Dollar, and most of its counterparts due to the UKs latest PMI report showed that the country’s manufacturing sector shrank less than economists predicted. The news also dampened speculation over whether the Bank of England will introduce a new round of monetary easing in the near future. The index for factory output rose to 49.5 in August up from a revised 45.2 in July. Economists had only been expecting an increase to 46.1. A reading below 50 indicates contraction, so the UK is showing promising signs that it is close to posting growth for the first time in months.

Currently the Pound is trading in the region of 1.260 against the Euro and 1.590 against the US Dollar.

US Dollar

‘Cable’ is again trading down against the Euro and Pound as the markets favour riskier assets over the safe-haven Dollar. The Dollar also continues to slide against the Japanese Yen, posting its fourth day of slides against the currency. At trading yesterday the ‘Greenback’ was trading close to its lowest level for three months as worries over the US economy continue and the markets await the outcome of the latest US jobless data due out on Friday.

Currently the US Dollar is trading in the region of 0.629 against the Pound and 0.792 against the Euro.

The Euro

The Euro has made gains against most of its major peers and is approaching a two-month high against the US Dollar. The gains come after European Central Bank President Mario Draghi’s plans to buy the bonds of debt ridden member nations bolstered confidence in the single currency. The markets are divided however over the future of the Eurozone. At no other point in its 13-year history have traders been so divided. Many doubt the EU officials will be able to keep the currency going whilst others are expecting the Euro to fail.

Currently the Euro is trading in the region of 0.793 against the British Pound and 1.261 against the US Dollar.

Australian Dollar

The ‘Aussie’ reversed some of its losses yesterday after the Australian Central Bank decided to leave interest rates unchanged at the 3.50% mark and delivered a policy statement that was far more upbeat about the state of the economy than many economists were expecting. Last month, the Central Bank also kept rates on hold, saying key trading partner China's growth had moderated but didn't appear to be slowing further. Australia’s policy makers are content to wait and see how things pan out in Europe and Asia before making any monetary easing decisions.

Currently the Australian Dollar is trading in the region of 0.646 against the Pound, 0.816 against the Euro and 1.025 against the US Dollar.

New Zealand Dollar

The ‘Kiwi’ has slipped against its Australian relation after the Australian Central Bank decided to maintain its current interest rate level. Falling demand for commodities such as iron ore and dairy goods have also caused a drag on the New Zealand currency. The ‘Kiwi’ has also slipped to a two-month low against the Euro and posted losses against the British Pound and US Dollar.

Currently the New Zealand Dollar is trading in the region of 0.503 against the Pound, 0.633 against the Euro and 0.797 against the US Dollar.

Canadian Dollar

The ‘Loonie’ is continuing to make gains against the US Dollar as demand for riskier currencies continues to remain high due to optimism over Europe. This week will see some important data for the currency pair as on Wednesday the Bank of Canada will issue its latest interest rate decision and Friday sees the release of the latest employment data.

Currently the Canadian Dollar is trading in the region of 0.638 against the Pound, 0.804 against the Euro and 1.014 against the US Dollar.

© 2018 : 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