Foreign Exchange

Sterling started the morning on a great footing- hitting a new 6 month high against the dollar to 1.5816 and hitting a 3 month high against the euro to 1.1460. Sterling was bullish hitting a high of 81.2 last seen in December 2008. In addition the UK economy received praise from the IMF on their aggressive action in tackling the recession thus far. However the IMF also warned that the government needed to adopt more plans to reduce the huge scale of government borrowing. Today this facet was drilled... more

Asian markets advance on a firm pace on Friday following yesterday’s advance on Wall Street, and renovated hopes of economic recovery. Euro and Pound trade slightly higher from yesterday’s lows. Tokyo Nikkei 225 Index rises 1.66%, while South Korean Kospi Index trades 1.16% higher. Markets in Australia, New Zealand and Hong Kong are all going through gains ranging from 1% to 2.15%. Japanese Machinery orders fell 22% year on year in March, but the decline was lower than expected, furthermore,... more

Currency Code GBP/1 Unit Units/1 GBP Utd. Arab Emir. Dirham AED 0.1789 5.5954 Australian Dollar AUD 0.5012 1.9961 Brazilian Real BRL 0.3151 3.1839 Canadian Dollar CAD 0.565 1.771 Swiss Franc CHF 0.595 1.6815 Cyprus Pound CYP 0.8965 1.1158 Egyptian Pound EGP 0.1177 8.61 Euro EUR 0.8965 1.1158 Hong Kong Dollar HKD 0.08475 11.8027 Indian Rupee INR 0.01323 75.8668 Japanese Yen JPY 0.006836 146.346 Polish Zloty PLN 0.2026 4.9459 Russian Rouble RUB 0.02059 48.8954 Swedish... more

Sterling The Pound has lost strength after having hit a fresh 4-month high at 1.5305 and has dropped to levels right above yesterday’s high at 1.5260, a support level which is being tested at the moment. According to the Swiss e Trade Strategy Team, the pound is about to give away recent gaiins dropping to 1.5150: “In a bold move, cable is trying to break a long-term resistance zone in early European hours, currently trading at 1.5270, near the day’s high. We expect the upmove to... more