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

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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Tuesday 24/04/2007

• Dollar flirts with $2 on cable then makes break below
• US’s largest bond fund sees rates at 4.5% by early 2007
• The Daily Telegraph launches a scathing attack on the MPC
• June rate rise all but confirmed by ECB members
• Tame Australian inflation data causes dip in Aussie dollar
• Oil trades up amid supply worries with accusations of vote rigging

US Dollar:

Very little data to drive the greenback yesterday however technical players did cause some movement. Cable
tested the $2 level repeatedly throughout the course of the afternoon making breaks below but failing to sustain
the dips. This morning aggressive buying of US 5 and 10-year T-Bonds in Asia have caused the dollar to
spike sustaining a break below $2. This spike has also materialised against the Euro with the dollar trading
mid-1.35. This move comes despite the world’s largest bond fund predicting a rate cut to 4.5% by the start of
2007 citing the ailing US housing market as the main driver, also having a knock-on effect to employment.
Today we have leading indicators looking for a small dip this afternoon amongst other smaller data.

Pound:

The pound traded up against the Euro yesterday as the Euro faded a touch following it’s sharp rally versus the
dollar last week. Yesterday mortgage approvals dipped slightly but this was glossed over by strong money
supply data.
Today the Telegraph carries an article by leading UK economists criticising the MPC for underestimating inflation
risks in a repeat of previous boom-bust cycles. They warn that rates may have to hit 7.5% to control inflation.
In addition the FT carries a story warning of inflationary risks posed specifically by the RPI measure as
opposed to the BoE’s CPI figure. The authors of this report see the MPC underestimating inflationary threats
in 2008.

Euro:

ECB members overnight stressed that inflationary risks still pointed to the upside and that there is no room
for complacency when it comes to price stability. Greek member Lucas Papademos reinforced futures market
views that rates will rise to 4% in June saying that he ’did not intend to say anything that would alter market
expectations on the stance of policy in the next two months’.

General News:

• The big move of the evening came in the Aussie dollar market. Inflation data came in at 2.4% vs an
expected 3.0% causing a sell-off in the Aussie market. Australian futures rallied by 14 basis points in a
straight line following the news and the dollar dropped 2cents against the pound.
• Canada will today decide on the interest rate for April. Markets are looking for the bank to leave rates
on hold at 4.25%. Risks do lie to the upside given the position of the currency at the moment.
• As accusations of vote-rigging in the Nigerian elections flew oil traders started to worry about supply
from the African country and oil traded up yet again. This coming after Iran promised not to use oil as
a weapon against the West. This morning oil trades $64.82.

Interbank foreign exchange rates:
Updated 24th April 2007
GBP/USD 1.9967
GBP/EUR 1.4719
EUR/USD 1.3563
GBP/JPY 236.56
GBP/AUD 2.4218
GBP/NZD 2.6966
GBP/ZAR 14.2041
GBP/CHF 2.4132
GBP/CAD 2.2382
GBP/SGD 3.0260
GBP/THB 63.254
GBP/HKD 15.6059

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