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Pounds To Euros With Currency Today

Currency Today are a UK based FX currency broker specializing in Pounds to Euros for corporate and domestic clients. Contact us for the very best exchange rates for all your Pounds to Euros needs.

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Interbank foreign exchange rates:

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Updated Monday 12th May 2008

EURO / GB POUND 0.7909
GB POUNDS / EURO 1.2643
BRITISH POUND / US DOLLAR 1.9469
EURO / US DOLLAR 1.5390
GB POUND / JAPANESE YEN 201.56
GBP/AUD 2.0710
GBP/NZD 2.5401
GBP/ZAR 14.8936
GBP/CHF 2.0404
GBP/CAD 1.9629
GBP/SGD 2.6679
GBP/THB 62.32
GBP/HKD 15.1769

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Thursday 12/04/2007

• Dollar initially gains on FOMC minutes
• Fed sees upside risk to inflation worse than economy slowdown
• UK RICS house prices much stronger than expected
• Euro rallies ahead of ECB decision today; no move expected
• Yen hits new all-time low against the Euro
• Oil underpinned by large drop in gasoline stocks

US Dollar:

Last night the Fed released the minutes of the FOMC March meeting. The overriding point was the fact that the Fed are still targeting the stubbornly high inflation and that more rate rises may be needed to bring it back under control. It was also commented that the upside risks to inflation are much higher than the risks to a slowing economy. There has been no spill over from the ailing sub-prime market and that the problems were unlikely to worsen. Chairman Bernanke also noted that the risk of a Chinese sell off of US assets was unlikely.
On the back of the minutes the dollar initially rallied but then gave back most of its gains, particularly against a strong euro. Cable yesterday tested the 1.98 level but failed to make a clean break however this morning early trade sees the cross just under 1.98. Euro-dollar looks to be heading towards 1.35.

Pound:

After a strong start yesterday the pound failed to hold on to gains. This morning we have seen a small rally on the back of a very strong Royal Institute of Chartered Surveyors (RICS) report which showed that unsold properties on agents’ books have hit a 3-year low. In addition there was a comment that the housing market has soaked up the three interest rate rises with little difficulty; this is in contrast to many newspaper reports that the housing market may be beginning to peak.
Obviously the report has given the pound a leg up this morning on most crosses however the pound is struggling to gain ground over a robust euro. Trade balance data is the figure of choice today.

Euro:

The Euro has gained significant ground ahead of the ECB meeting today despite a predicted no move. A June looks to be priced in so markets will be examining Trichet’s press conference following the decision for any of the stock terms. This morning the Euro looks to be heading for 1.35 against the dollar and is trading marginally under 1.47 on the pound. It has hit all time highs versus a beleaguered yen.

General News:

• As mentioned above the yen has hit an all time low against the Euro with a poor Nikkei session on top of a rallying Euro.
• The Aussie dollar remained underpinned by a very robust unemployment figure showing a record
amount of employed workers.
• Oil remained around the $62 level after a very sharp drop in gasoline stocks yesterday. Crude stocks were fairly comfortable however the data just added a touch of strength. This morning we are trading at $62.17.

Interbank foreign exchange rates:
Updated 12th April
G BRITISH POUND / US DOLLAR 1.9774
GB POUNDS / EURO 1.4686
EURO / US DOLLAR 1.3466
GB POUND / JAPANESE YEN 235.96
GBP/AUD 2.3940
GBP/NZD 2.7156
GBP/ZAR 14.1025
GBP/CHF 2.4108
GBP/CAD 2.2545
GBP/SGD 3.0040
GBP/THB 64.295
GBP/HKD 15.4497

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