Currency Rates

EURO/GBP - 1.104

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Sterling had a positive end to the week rising 0.3% against the US dollar on Friday following an opinion poll that suggested the Conservatives would win an outright majority in an election. Sterling pushed through $1.52/ £1 but traded in a very tight range against the euro. However, in early trading this morning the US dollar has been boosted by demand for safe-haven assets after China’s Prime Minister said that the country may experience a ‘double dip’ later this year. A house price survey by Rightmove showed that prices grew by 5.3% in the year to March following a 6.1% increase in February – the first slowdown of the rate of growth in 13 months. This was attributed to an increase in supply as more people sold their property. The credit rating Moody’s stated that, despite ‘stretched finances’, the UK’s AAA credit rating is likely to remain intact for the time being. The UK economic calendar is fairly light today – get in touch now for a price to avoid buying at a poor rate.

In the Euro zone, today marks the monthly meeting of the EU’s finance ministers in Brussels and a Greek bailout is top of the agenda despite French and German doubts that a deal can be reached. Guardian sources claimed that up to 25bn would be made available at today’s meeting in the form of loan guarantees and bilateral loans. The EU have commended Greece on the recent ‘Austerity Plan’ which included public sector pay freezes and tax cuts. Aside from that, there is Euro zone employment data, but this data has already been released throughout January so is unlikely to be a major talking point. Call in now for a quote, as we could see considerable movement if there is any kind of bailout announcement.

Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UKor fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx