Currency Calculator by Send Money Home.

GBP Flag
1 GBP = 1.12942 EUR
EUR Flag
1 EUR = 0.8854 GBP

View Providers Switch Currencies

Unanimous indecision within EU

Send money home free transfer voucher

Send money home daily currency update

Pound Sterling

The Pound has strengthened for a second day against the Euro after Europe’s finance ministers failed to agree on a debt-reduction package for Greece. Against the Dollar the Pound has dropped for the first time in five days after the Bank of England published its minutes for its November meeting and decided to put on hold a £375billion asset-purchase program aimed at boosting growth. So far this year Sterling has gained by 1.5% and is expected to make further gains against the Euro if the Greece situation and EU budget is not resolved.

US Dollar

The ‘Greenback’ was trading strongly against a basket of currencies yesterday as demand for safe haven currencies continues to strengthen. Fears over the global economy continue after the European Union failed to agree to the next round of desperately needed bailout funds for Greece. Against the Japanese Yen the Dollar shot up to a new seven-month high due to speculation that the current Japanese government will lose the upcoming election.

Today’s main data of interest is the latest unemployment claims figures which analysts are expecting will come in at 423,000 which will be an improvement on last week. If the figure is worse than expected then the Dollar could strengthen further as safe haven demand increases.

The Euro

The Euro has fallen against the US Dollar breaking a two-day gain after Europe’s finance ministers failed to agree on a debt reduction package for the Greeks despite having more than 11 hours of talks. The single currency suffered further losses after Luxembourg’s finance minister said that the discussions will resume on the 26th of November, causing traders and investors to seek shelter in safe havens as the EU dithers.

Australian Dollar

The ‘Aussie’ has weakened after the European Union failed over the terms for Greece. The currency was also weakened by a decline in Japanese imports which dimmed the outlook for Australian shipments.

New Zealand Dollar

The ‘Kiwi’ has fallen after European Union finance ministers failed to reach an agreement on the next round of bailout funds for Greece causing investors to be spooked and seek safe havens in the US Dollar and elsewhere. European finance chiefs left a meeting lasting more than 10 hours in Brussels without settling on an agreed way for Greece to get its next round of bail-out funding, dashing hopes the Mediterranean nation had done enough to sway them.

The New Zealand currency was also weakened after the price of one of its main exports, whole-milk powder fell to a seven-week low.

Canadian Dollar

The ‘Loonie’ has weakened due to the outcome of the European finance ministers meeting and the decline in commodity prices. Following the big gains seen on Monday the value of crude oil and other commodities fell. The ongoing violence between Israel and Gaza could force the price of oil up and jeopardize shipments of oil from the Middle East. Copper was also down.

South African Rand

Inflation in South Africa rose more than economists predicted hitting a four month high as the weakened Rand increased the cost of imports boosting expectations that the nation’s Reserve Bank will keep borrowing costs unchanged at tomorrow’s meeting. The Rand has weakened by 0.7% against the Dollar as a result.

© 2017 : 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 - Email Us