- Category: Exchange Rates
- Published on Friday, 19 August 2011 08:23
- Written by Sam Coventry
The pound dollar exchange rate is 0.398% lower with 1 GBP = 1.6501 USD.
The pound Australian dollar exchange rate is 1.657% higher with 1 GBP = 1.5908 AUD.
"The major story from yesterday’s session was some abysmal US manufacturing data, which triggered huge losses in global equities and a sell-off in riskier currencies. The early signs of stabilisation in the stock market that we have seen in recent sessions have been totally erased by this latest instalment from the US economy," says a note from UK money transfer company Caxton FX.
Today’s session brings some UK public sector net borrowing data, but attention will be focused more than ever on movements in the stock market. Another ‘risk off’ and safe-haven friendly session seems likely.
The pound euro exchange rate is trading at a ten-week high as market nerves weigh on the single currency.
Monthly UK retail sales data revealed a significant and sharper than expected slowdown, but sterling remained in demand throughout the session regardless. As well as French and German stock markets both sliding by over 5.0% on the day, there was some concerning news regarding the recent Greek bailout, which hurt the euro. Several eurozone nations including the Netherlands, Austria and Finland are demanding collateral from Athens in return for their contribution to the country’s aid package.
This pair is trading strongly above €1.15 and with equities seemingly likely to be on the back foot again today, it is difficult to bet against another strong day for the pound.
Latest Exchange Rate News
- Pound to euro exchange rate (GBP/EUR): Sterling Rally Comes to an Abrupt End
- Euro to Pound Sterling Exchange Rate: EUR/GBP Heads Higher as EUR/USD Rallies
- Pound sterling vs Australian and New Zealand dollars: GBP continues to be battered by NZD, temporary relief vs AUD
- Euro exchange rate today: Inflation data fails to provide the impetus for EUR to recover vs USD and GBP
- Aus dollar trades with fresh menace; are we going to see further gains ahead?
- Euro forecasted to slump against Australian dollar by UniCredit Bank
- Australian dollar outlook turns increasingly constructive as AUD outperforms all others on FX markets today
- NZ dollar: UBS forecasting further gains in the value of the New Zealand dollar
- British pound sterling shoots up against the euro and US dollar (but GBP/USD suddenly plunges!)
- Euro dollar exchange rate outlook for today: EUR/USD predicted to resume downside correction
- Why is the Pound Sterling Stronger Today? The Latest News, Views and Outlook for the pound exchange rates
- Swiss Franc to Pound Sterling (CHF/GBP): "There is a malaise around Swiss monetary policy"
- Australian Dollar exchange rate predictions: AUD boosted by jobs data, GBP predicted to stay strong though
- Euro Exchange Rate Today: Outlook for EUR Remains Positive, but Key Resistance Levels Ahead
- US Dollar vs Pound Sterling exchange rate: GBP is down, but not out
Latest on The Economy News
- Heritage Oil PLC + XCITE ENERGY LIMITED: HOIL Updates on Tax Position, XEL Fails to Impress Investors Latest Update
- Thomas Cook Group plc: TCG Faces Conflicting Signals on the Charts
- Tech Alert on Gulf Keystone Petroleum Limited: For GKP "This bearish signal indicates that the stock price may fall"
- Imagination Technologies Group plc backed by Intel Corporation Backing: Why IMG is a Buy
- ARM Holdings plc vs Intel Corporation: Sell Rating on ARM Confirmed as INTC Launch XMM 7260
- HSBC Holdings plc: HSBA shows "little in the chart to suggest that a sudden push higher is imminent"
- Vodafone Group plc: VOD Outlook Adjusted to Factor in New Share Count