Currency Calculator by Send Money Home.

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

View Providers Switch Currencies

UK credit rating at risk

Send money home free voucher

Send money home daily currency update

Pound Sterling

The Pound has continued to weaken against the Euro due to investor concerns over the UK’s AAA credit rating and the uncertainty surrounding the country’s relationship with the European Union. Many economists are predicting that the UK’s much valued AAA rating will be cut thanks to worries over the country’s weak economic recovery.

A series of disappointing data releases has done little to bolster confidence. Fitch ratings agency has warned that the UK's top-notch sovereign credit rating could be cut if the Chancellor of the Exchequer's March budget shows debt levels continuing to rise.

US Dollar

The ‘Greenback’ made gains against the majority of its most traded peers due to the latest US Unemployment figures coming in at a five-year low. Its gains were limited however due to a disappointing manufacturing report.

Today, Dollar traders should be aware of the latest US Prelim University of Michigan Consumer Sentiment figures which are expected to be a good indicator of the state of the US economic recovery.

The Euro

The Euro weakened considerably against the US Dollar, following the release of far better-than-expected US Unemployment Claims figures. Against the Pound the single currency continued to advance.

Today, a lack of EU economic news means that any Euro movement is likely to come as a result of British or US news. Euro traders will want to pay attention to the UK Retail Sales and US consumer sentiment figure. Analysts expect UK retail sales to have increased from last month which, if true, is likely to result in the Euro giving up some of yesterday's gains against the Pound.

Australian Dollar

The ‘Aussie’ has hit its highest level in four years against the Japanese Yen. The Asian currency tumbled as investors predicted that the Bank of Japan’s policy makers will force the currency down further in a bid to kick-start the Japanese currency.

Strong economic data out of China is expected to give the Australian currency a boost against its rivals.

New Zealand Dollar

The ‘Kiwi’ followed its Australian relation by also trading at a four-year high against the Japanese Yen. Against the US Dollar however the currency plunged due to a weaker-than-expected consumer price index (CPI). The CPI fell 0.2% in the December quarter when the market consensus was for a 0.1% rise.

Canadian Dollar

The ‘Loonie’ rose from a two-week low against the US Dollar due to government data bolstering the growth prospects for the world’s biggest economy and Canada’s main trading partner. The currency was boosted by an increase in the price of crude oil.

South African Rand

The Rand has weakened for a second day and is set for its third straight weekly decline. Concerns that labour protests in mining and agriculture will curb exports and slow growth in Africa’s largest economy has weighed heavily on the currency.

© 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