Euro fails to move significantly

12/02/09-The Pound has followed yesterday’s drop with further losses against major currencies, with US Dollar exchange rates particularly volatile after better-than-expected retail sales data released earlier on.

 

Mid-market rates at 1700 GMT:

 

Sterling – Euro = 1.1090

Sterling – US Dollar = 1.4233

Sterling – Australian Dollar = 2.1829

Sterling – New Zealand Dollar = 2.7275

Sterling – South African Rand = 14.3150

Sterling – Canadian Dollar = 1.7758

 

European data out showed poor production figures, but the Euro failed to move significantly, finishing about a cent lower than yesterday. A Pound now buys Euros for overseas transfer just above the 1.10 mark.

 

Tomorrow sees Eurozone GDP data released at 10am, as well as key German data and US consumer sentiment in the afternoon. There are no major released scheduled for the Pound.

 

Make sure you are in touch with a reputable currency broker if you need to make or receive any payments in foreign currencies

 

  

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