Sterling had a mixed week against the majority of currencies as risk aversion drove the market on Monday and Tuesday before risk appetite took over as the Greek private sector debt swap neared approval. Worse than expected data released in the form of the Purchasing Managers' Index (PMI) and Halifax Price Index dampened the UK’s economic outlook this week. As widely expected, the Bank of England held its benchmark interest rate at 0.5% and kept the asset purchase program on hold at £325 billon yesterday. The markets will look towards the key releases in the US and news from Greece; both of which have the potential to cause a lot of volatility so call in now for the latest update and the latest news.

The Euro had a turbulent week as fears surrounding a potential Greek default reared its ugly head once more before the markets recovered due to the suggestion that the Greek bondholder’s debt swap would be agreed. The European Central Bank (ECB) left rates unchanged as widely expected and the ECB’s President stated that he felt recent data showed a “stabilization in the euro area economy”. Despite the positive rhetoric from the ECB president and the suggestion that the debt swap will be confirmed, the underlying problems still exist so the markets could easily turn on the euro very quickly. Call in now for the latest update and the latest news.

This week, the USD strengthened due to its safe haven status as risk aversion dominated the market before weakening off as the markets fears subsided. The service sector unexpectedly rose at the fastest rate in a year and mixed employment data was released. The markets look towards today’s trade balance data and moreover the Non-Farm Payrolls release which often causes a hefty impact on the market so call in now for the latest news and a live quote.

Elsewhere, the Japanese yen had an extremely volatile weak due to the midweek change in risk sentiment and the currency’s “safe haven” status. China’s growth forecast reduction to 7.5% was one of the most influential releases of the week stoking fears of a Global slowdown. The Bank of Canada, Reserve Bank of Australia and the Reserve Bank of New Zealand all kept their interest rates unchanged as widely anticipated. Call in now for the latest update and the latest news.

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