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

Outstanding factors still hindering the Eurozone

compare money transfer free transfer voucher

Foreign money transfer update

Pound Sterling

The Pound advanced for a second day against the US Dollar ahead of the sale of UK government bonds. Against the Euro, Sterling is little changed as BOE governor Mervyn King makes his final appearance before the Treasury committee.

Against the Canadian Dollar the Pound hit a 19-month high as global risk appetite remained weak due to the Federal Reserve’s decision to taper its asset purchasing programme later on in the year.

US Dollar

The ‘Greenback’ is mixed against its peers as Federal Reserve officials sounded dovish in their speeches. New York Fed President William Dudley said that the Central Bank is not providing sufficient accommodation and criticized the Fed’s moves to mitigate market instability. As a result of the comments the Japanese Yen strengthened against the Dollar.

The Euro

The Euro edged up against the US Dollar and held steady against the British Pound due to yesterday’s data release that showed confidence in the German economy continued to improve in June adding to hopes that the Eurozone is close to beginning a recovery.

The currency remains vulnerable however following the sentencing of Silvio Berlusconi to seven years in prison. The ruling has created uncertainty over the stability of the Italian coalition government.

Australian Dollar

The ‘Aussie’ had a volatile session yesterday after it made gains followed by retreats against its major peers. The reason for the volatility came from concerns for the Chinese economy. A number of banks pared their growth projections for the world’s second largest economy, cutting their growth forecasts to 7.4% from 7.5%.

New Zealand Dollar

The ‘Kiwi’ declined against the US Dollar due to fears over China’s banking sector. The concerns sparked a sell-off of Asian currencies and caused investors to ditch risk sensitive currencies in favour of the safe haven Dollar and Japanese Yen. The New Zealand and Australian economies are closely linked with China's fortunes, with both countries exporting large quantities to the world's most populous nation.

Canadian Dollar

The ‘Loonie’ fell to its lowest point in almost two-years against its US relation due to increased speculation that the US currency will strengthen when the Federal Reserve decides to end its monetary stimulus programme.

South African Rand

The Rand strengthened against the US Dollar and other peers as domestic firms brought home their overseas earnings ahead of the end of the South African financial year. The end of June marks the end of the fiscal year for many companies with offshore operations such as gold producer Gold Fields and transport firm Imperial Holdings. The currency remains vulnerable to volatility with the critical condition of Nelson Mandela weighing upon sentiment.

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