Currency Calculator by Send Money Home.

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

View Providers Switch Currencies

The Pound rises as UK unemployment falls

why use a currency broker than your bank

Send money home daily currency update

Pound Sterling

The Pound was little changed against the US Dollar due to the UK Debt Management Office preparing to auction up to a billion Pounds of inflation-linked securities. Against the Euro, Sterling was also little changed.

So far this year the currency has dropped by 1.6%, making it the third worst performing currency after the Japanese Yen and Swiss Franc.

US Dollar

The ‘Greenback’ weakened slightly against the Japanese Yen due to speculation that the Bank of Japan’s planned monetary easing measures will not be as aggressive as once thought.

Today, Dollar traders should pay attention to the latest Building permits and Unemployment Claims figures due later today. We can expect to see an increase in demand for riskier assets should either figure come in above their forecasted levels.

The Euro

After a brief strengthening against the US Dollar early in the day the Euro resumed its downward trend against the American currency. The weakening is thought to stem from comments made by a EU finance minister who told the press that the Euro’s recent run of gains threatens to harm the regions’ export industry.

Today, Euro traders will want to be aware of the latest European Central Bank bulletin which is expected to outline the Bank’s forecasts for the future of the Eurozone. If the report proves to be positive then we can expect to see the Euro strengthen once again as demand for riskier assets will improve.

Australian Dollar

The ‘Aussie’ weakened against all 16 of its most traded peers due to a report showing that employers in the country unexpectedly cut their payrolls last month adding to concerns that the nation’s economy is stalling. Due to the rise in the jobless rate the currency fell against the ‘Greenback’ for a third day in a row and weakened against the New Zealand Dollar.

Tomorrow could see a reversal in the ‘Aussie’s’ momentum as China is due to release its latest GDP figures. If the Asian nation posts the predicted growth figure of 7.8% then the ‘Aussie’ will benefit as a result.

New Zealand Dollar

The ‘Kiwi’ has outperformed its Australian relation due to an increase in dairy prices. New Zealand’s most traded commodities saw their prices rise by 1.1%, building on a 2% gain achieved a week ago. Dairy prices have now risen more than 30% since mid-May.

Canadian Dollar

The ‘Loonie’ has weakened against its US relation due to the release of poor global economic data. The disappointing outlook for the global economy weighed on the currency. It fell against the Yen for a second straight session after a recent warning from a Japanese official about excessive Yen weakness continued to underpin the currency.

South African Rand

The Rand firmed slightly against the US Dollar after miners at the Anglo Platinum mine called off their strike at the world’s top platinum producer. The strikes

were in protest at plans to slash 14,000 jobs. The situation in the farming sector also saw improvements after most of the striking workers agreed to suspend labour action for a week to allow further wage negotiations to take place.

© 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