The Pound Sterling Live - The Heart-Beat of the British Pound
British Pound Sterling Live on Friday: GBP in Welcome Show of Strenght vs EUR - GBP/EUR up over 1 pct
- Category: The Pound Sterling Live - The Heart-Beat of The British Pound
- Published: Thursday, 07 February 2013 08:42
- Written by Rob Samson
The pound euro exchange rate is 1.16 pct in the blue at 1.1717.
The pound is also higher against the US dollar; GBP/USD is at 1.5695.
The pound / Australian dollar exchange rate is half a percent higher at 1.5253.
[ Please note this is a spot market quote - your bank will affix their own spread to this figure when delivering you their retail exchange rate offer. We would suggest looking at an independent currency provider for your FX needs as they will guarantee to beat your bank's offer, therefore delivering you more currency. ]
16:30: Is this the end of the euro rally?
Mario Draghi really talke the euro down today, putting a firm end to its recent run of good form. But, is this the end?
Kathy Lien, MD at BK Asset Management:
"The question that many currency traders now have is whether Draghi has permanently killed the EUR/USD rally and our answer is no. Fundamentals remain intact – the tail risks have receded, the Eurozone economy is still recovering and capital is returning to the region. However, we cannot ignore the short term impact that Draghi’s comments have had on the euro.
"The currency appreciated significantly since the beginning of the year due in large part to Mario Draghi’s nonchalant attitude towards the currency.
"The euro is now on his radar and this reality could drive additional profit taking in the EUR/USD. However we believe losses should be limited to support around 1.3270."
12:15: Taking stock after BoE decision and Carney appearance
The Bank of England has done nothing again at its monetary policy meeting. No surprises there then.
Soon-to-be Governor of the Bank of England Mark Carney did however cause some excitement - see below.
So where does sterling find itself? We take stock:
GBP/EUR = unchanged at 1.1578.
GBP/AUD = 0.17 pct up at 1.5204.
GBP/USD = 0.24 pct up at 1.5698.
GBP/CAD = 0.2 pct higher at 1.5627.
Note: These are spot market rates, your bank will add a discretionary spread before delivering their retail rate. An independent FX provider will however guarantee to beat your bank's offer. Please find out more here.
10:22: Pound shoots up as Carney speaks
BOE MUST EXIT UNCONVENTIONAL POLICY
BOE NEEDS TO MAINTAIN POUND INTEGRITY
BOE MUST IMPLEMENT `TOUGH BUT FAIR' BANK SUPERVISION
BOE MUST IMPROVE MONETARY/MACROPRUDENTIAL COORDINATION
BOE POLICY EXIT MUST INSPIRE CONFIDENCE WHEN IT COMES
8:50: Ahead of Bank of England Decision - OECD say they want more
The OECD has put the onus on the Bank of England to do more for the economy, claiming it should go “the extra mile” in order to allow the government to stick to its deficit reduction program.
However, you will struggle to find an analyst who is forecasting any policy decision changes to be announced at today's meeting.
8:40: Decent start for GBP, Carney and BoE decision ahead
The pound sterling is broadly firmer on global currency markets this morning. There are a few key events today - the Bank of England and European Central Bank monetary policy decisions and the incoming Bank of England Governor Mark Carney appears before the Treasury Select Committee.
A look at the spot rates:
The pound euro exchange rate is 0.18 pct down on Wednesday night's closing level; GBP/EUR is at 1.1561.
The pound dollar exchange rate is 0.13 pct higher at 1.5681.
The pound Australian dollar exchange rate is 0.11 pct up at 1.5194.
The pound Canadian dollar exchange rate is 0.18 pct higher at 1.5624.
Please be aware that these are spot market rates and your bank will add their own discretionary spread. An independent currency provider will however guarantee to beat your bank's offer. Please find out more here.