Currency Rates

EURO/GBP - 1.139

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Sterling gained and hit a 7 week high against the US dollar in the wake of Tuesday’s better than expected trade balance data and strong retail sales data. The pound reached $1.5492/ £1 against the US dollar spurred further by a boost in risk appetite following strong US corporate earnings figures. Sterling strengthened marginally against the euro, hitting a high of 1.1352/ £1 despite a lack of data. Fresh opinion polls yesterday showed that a hung parliament was the likely result of the election, however the pound bucked the trend. Normally what we have seen in this instance is panicked selling of the pound and it has weakened considerably. However, several analysts have stated that the possibility of a hung parliament is already ‘priced in’ – i.e. the market expects it to happen and the price already reflects this event happening. Out today there is very little data. Call in now for a price as there may be positive movement off the back of the current strong sentiment.

In the Euro zone, it was a particularly quiet day with little data released. As a result, the euro traded in a tight range against most currencies. Similarly today, the only data released is the ECB’s monthly report and there is a French bond issue which may cause a little movement if demand is less than expected. Either way, it is worth getting in touch for a price now – especially if you need to move euros back into sterling, as the pound is currently on an upward trend against the euro.

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