Euro Pounds Brief Wednesday 29th November 2006


For Today's exchange rates Click the following link:
Euro Pounds Home

1. Unbeatable exchange rates On Euros pounds Transactions
2. No commissions
3. FREE transfers over £5,000
4. Guaranteed secure transactions
5. Same day swift clearing of funds
6. Your personal senior FX broker
 

 

Wednesday 29/11/2006

• Dollar falls yet again
• Euro sticks to upwards path
• US GDP figures due at 1330
• China diversification fears
• Australian trade deficit wider than expected
• Oil pushes higher on cold weather and dollar weakness

US Dollar:


The dollar plumbed new depths yesterday and overnight as fundamentals and fears over China’s diversification
of their dollar reserves played heavy on the markets.
With China holding $1trillion in FX reserves and rumours that they may be looking to diversify, the
negative dollar sentiment saw the eurodollar hit 1.3218 and sterling hit an overnight high of 1.9545.
Fed Chairman Ben Bernanke offered an olive branch to dollar sellers by stressing that although core
prices are expected to slow gradually, upside risks an uncertainty remains.

Pound:


Apart from the obvious strength over the greenback the pound had a quiet day yesterday. With money
supply and mortgage approvals due at 0930 we should see some action this morning. The UK currency
saw a small slippage versus the euro yesterday but nothing to have a huge effect on buyers.

Euro:


Despite French politicians voicing concerns over the recent strength of the euro and its possible impact
on growth, the euro continued to gain strength yesterday, mainly on the back of dollar weakness.
With ECB president Jean-Claude Trichet seemingly unconcerned by these comments euro strength
looks like it’s here to stay.

General News:


• Australia’s trade deficit widened to A$1.263 bn, larger than the expected A$1.04 causing further
weakness in the dollar. This was countered by high gold prices.
• US GDP figures are due to be released at 1330 GMT and the dollar will be looking for a strong
number to stop the rot.
• Oil prices again spiked upwards as further cold weather in the US helped fuel oil sales. Prices
reached $60.99 in Asia overnight.
• The equity markets bounced back nicely yesterday after a slow start with most European
bourses opening higher.

Inter-bank
Updated 29/11/2006
 
GB POUNDS / US DOLLAR 1.9500
GB POUND / EURO 1.4799
EUR/USD 1.3173
GBP/JPY 226.40
GBP/AUD 2.4893
GBP/NZD 2.8727
GBP/ZAR 13.8505
GBP/CHF 2.3515
GBP/CAD 2.2087
GBP/SGD 3.0130
GBP/THB 70.368
GBP/HKD 15.1548
 

 

Currency exchange videos

Daily report archives

November 2006  December 2006  January 2007  February  March  April  May July
August  September  October November December January 08 February

Euro to Pounds

Site Map


2008 © Euro Pounds Exchange Rates Currency Today
Currency Today is a UK registered Limited Company - Number: 6502599