Currency Calculator by Send Money Home. Which Foreign Exchange Broker offers the best rate

Flag
1 GBP = 1.09191 EUR
Flag
1 EUR = 0.9158 GBP

View Providers Switch Currencies

USD Strengthens as stimulus programme is tapered

Axiafx compare table

Daily currency report

Pound Sterling

The Pound has fallen for a third consecutive day against the US Dollar after the Federal Reserve reduced its monetary stimulus programme. Sterling was under some pressure ahead of the release of a report which is expected to how that mortgage approvals in the UK hit their highest-level in six years.

US Dollar

The US Dollar strengthened against the majority of its most traded peers after the Federal Reserve scaled back its stimulus programme. The ‘Greenback’ is likely to strengthen further as the session progresses as GDP data is expected to show that the world’s largest economy expanded by 3.2% in the fourth quarter of 2013.

The Euro

The Euro received support early in Thursday’s session after data out of Germany showed that unemployment in the Eurozone’s largest economy fell more than expected. The overall jobless rate fell to 5.1% from 5.2%. GDP data out of Spain also beat expectations suggesting that a recovery is underway in the Euro region.

Australian Dollar

The ‘Aussie’ fell against most of its peers after the US Federal Reserve announced a further reduction to its monetary stimulus programme and as data out of China showed that manufacturing activity in Australia’s biggest trading partner slowed.

New Zealand Dollar

The New Zealand Dollar weakened after it and other commodity and emerging market currencies fell following the US Federal Reserves decision to taper its monthly monetary easing policy by $10 billion to $65 billion per month. The currency also came under pressure after demand waned in the wake of the Reserve Bank of New Zealand’s decision to keep interest rates unchanged.

Canadian Dollar

The Canadian Dollar softened against its major peers after the US Feds tapering decision. Losses were restricted however due to most investors anticipating the cut and the rise seen in commodity prices. A reduction in consumer confidence is also weighing upon the currency.

South African Rand

The Rand continued to trade at multi-year lows against the majority of its peers despite the South African Central Bank raising interest rates for the first time in six years. The currency remains embroiled in the volatility that has hit other emerging market currencies such as the Turkish Lira and Indian Rupee. The announcement by the US Federal Reserve to taper its easing policy has also weighed heavily with many investors opting for safe havens as a consequence.

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