Currency | Rate | EURO | 1.195 | US$ | 1.493 | CHF | 1.779 | CAN$ | 1.842 | AUS$ | 2.329 | JPY | 143.61 | HKD | 11.580 | Comments: Sterling fell for the third consecutive day to record-low prices against the euro. Losing ground to almost all major currencies sterling also hit its lowest price against the US$ for 6 years. The increasingly 'dovish' stance demonstrated by the Bank of England in their quarterly inflation report, out yesterday, solidified the belief that interest rates could come down by another whole percent by the end of the year. This news came only an hour or so after jobless figures in the UK were shown to be at their highest level of increase since 1992. However, German GDP data already released early this morning has shown contraction within the German economy meaning that the nation has officially entered recession. This and similar news over the coming year may well be sterling's best hope for any significant improvement. Note: All rates are mid market inter bank and indicative at the point of publication. To get live pricing contact Ben@SmartCurrencyBusiness.com |
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