From Our Foreign Exchange Blog

Latest:

POUND STERLING / AUSTRALIAN DOLLAR EXCHANGE RATE: (GBP-AUD) CONTINUES TO BE SOLD-OFF

POUND / US DOLLAR EXCHANGE RATE: GBP-USD STARTS TO EDGE HIGHER, IS MARCH SLUMP OVER?

POUND EURO EXCHANGE RATE: GPB-EUR MOVES ABOVE 1.2 AGAIN

POUND RATE TODAY (GBP): BRITISH POUND EXCHANGE RATE COMPLEX FINDS A LITTLE LOVE

DOLLAR RATE TODAY: USD EXCHANGE RATES COME UNDER EARLY PRESSURE ON WEDNESDAY

EURO RATES TODAY: EURO EXCHANGE RATE COMPLEX REMAINS UNDER SELLING PRESSURE

Monday:

EXCHANGE RATES TODAY: BRITISH POUND (GBP) IN INFLATION DATA BOOST, UP VS USD, EUR

POUND STERLING (GBP) VS AUS DOLLAR EXCHANGE RATE IN FRESH LOSSES ON TUESDAY

EURO EXCHANGE RATE TODAY: EUR UP VS GBP BUT DOWN VS USD AND AUD AS GERMAN IFO DISAPPOINTS

CANADIAN DOLLAR / POUND STERLING EXCHANGE RATE: CAD REMAINS RESILIENT TO GBP ADVANCES

POUND TO EURO SLUMPS TOWARDS 1.19, GERMAN IFO DATA + POSITIVE DATA SURPRISE FROM FRANCE HELPS

Friday:

Euro forecast for next week: EUR-USD to find support and trade in resilient fashion

US dollar forecast for next week, Downside bias may emerge for EUR-USD

Pound exchange rate forecast next week: British Pound in oversold territory

Canadian Dollar Rallies, Recovers from a Four and a Half-Year Low Against the US Dollar

Why is the Australian dollar so strong today? Pound to Aus Dollar Sinks on Friday

The Pound to Euro Exchange Rate is Lower on Friday: Why?

Pound to Dollar exchange rate: GBP-USD should remain under pressure as traders favour the greenback

Pound Sterling vs Canadian Dollar (GBP to CAD): Key Figures Due Out of Canada Today

Thursday:

Euro Pound Exchange Rate Slumps as Sterling Tracks US Dollar Higher

EURO EXCHANGE RATE TODAY: EUR/USD FALLS YET FURTHER AS MARKETS TURN SENSITIVE TO US DATA

CANADIAN DOLLAR TO USD TODAY: UNCERTAIN INVESTORS NOT YET READY TO SELL CAD

Australian dollar strength forecast to continue, AUD/USD readies to break higher pulling GBP/AUD lower

The pound to Australian dollar exchange rate is 0.07 pct higher at 1.5393.

The Australian dollar to US dollar rate is 0.06 pct lower at 1.0465.

Today's only significant data release out of Australia concerns the latest GDP release - growth was up 0.5% q/q in Q3 confirming a loss of momentum in the Australian economy, where consumption growth was the slowest in two and a half years.

Yesterday the Reserve Bank of Australia cut the cash target rate to 3% to underpin the economy, the cut was less than forecast which opened the door to strong gains for the AUD.

UBS advise that the Australian currency remains favoured, concerning the AUD/USD: "With trend indicators bullish, the risk is for resumption of upside and a break above 1.0490 would open the doors to 1.0625. Support lies at 1.0393."

Such gains will likely translate to further losses for GBP/AUD.

Markets: Tesco grabs all the attention

Tesco Plc is set to end its five-year attempt to crack the cut-throat U.S. grocery market and will focus instead on its struggling home business and faster-growing emerging markets.

The world's No. 3 retailer said it had launched a strategic review of its loss-making U.S. chain Fresh & Easy that could lead to the sale or closure of its 200 stores.

"We've now concluded that it is not going to deliver acceptable shareholder returns in an appropriate timeframe in its current form," Phil Clarke, chief executive of the British company, told reporters.

"It's likely but not certain that our presence in America will come to an end," said Clarke, speaking from Los Angeles.

UK service sector slows

The UK service sector grew at its slowest pace in almost two years in November, a survey has indicated.

The Markit/CIPS Services Purchasing Managers' Index (PMI) fell to 50.2 last month from October's 50.6.

A reading below 50 indicates a drop in activity, so the November figure adds to fears the economy is on the brink of contracting again.

The report comes ahead of what is expected to be a gloomy Autumn Statement from the chancellor.

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