Sterling stayed fairly range bound this week due to a lack of significant data released in the UK and because trade volumes remain low in the final week of the summer holidays. Overnight, consumer confidence figures were released and first thing this morning data showing the change is house prices was also announced. The summer doldrums have kept the markets relatively quiet this week; but, with so much uncertainty in Europe and the with the annual Jackson Hole symposium taking place in the US there is still the potential for a lot of volatility today. Call in now for the latest rates.

The euro had a fairly strong start to the week as traders' remain expectant that the European Central Bank will intervene in the government bond markets to drive down borrowing costs. A fairly successful benchmark Italian 10 year bond auction and relatively solid bond auctions in Spain also helped to calm the bond markets. Market concerns were also eased following comments from the Chinese Premier suggesting that the Chinese may buy European bonds. On a more negative note, German business climate sentiment figures came in below market estimates. German retail sales were released first thing this morning and then later on today, year on year inflation estimates and the rate of unemployment in Europe as a whole will also be released. Call in now for the latest news.

US dollar had a mixed week as preliminary GDP figures were released as expected showing that the economy grew by 1.7% whilst the previous quarters figure was also revised up to 1.7%. Other data released this week showed that consumer confidence figures had missed market estimates; but, the change in the number of homes pending sale increased by much more than anticipated. As has been the case for much of the week, the focus today remains firmly on the Chairman of the Federal Bank’s speech at the second day of the annual Jackson Hole symposium where he is expected to give further clarification on any monetary policy that may be implemented to stimulate growth. Get the latest news by calling in.

Elsewhere, we saw a lot of volatility caused by action taken or the lack thereof by a raft of central banks. The Hungarian central bank surprised the markets by cutting interest rates by 0.25%, the Polish central bank all but ruled out increasing interest rates in the short term and the suggestion was made that the Swedish central bank should look to lower interest rates to 1% this year. In other news, the Japanese government downgraded its view of its own economy. Overnight, a raft of data from Japan was released including inflation data and the rate of unemployment and later on today, the main feature will be the Canadian GDP figures which expected to show very slight growth of 0.1%. Call in now for the latest news and a live quote.

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Sterling had a strong day yesterday making gains against the majority of currencies, and in particular against the Polish zloty, Hungarian forint and Swedish krona despite the lack of any significant data released in the UK. Out today, we have the release of the monthly change in the net lending to individuals and the number of new mortgage approvals will also be announced. It is more likely that news from elsewhere especially Europe will affect sterling's exchange rate in the short term and as we are still in the summer doldrums we could find movements very rapid if any surprise announcements are made. Call in now for the latest rates.

The euro was weak against sterling and the US dollar yesterday despite reassurances from the European Central Bank (ECB) President that it will do everything in its power to ensure “price stability for all euro area citizens”. On the data front, German inflation figures were higher than expected, whilst positive news came from Italy following better than expected retail sales figures and a better than expected Italian bond auction for short term bonds. The markets will now expect today’s benchmark Italian 10 year bond auction to reinforce this positive sentiment from Italy yesterday. Other data released includes the change in the number of unemployed people during the previous month in Germany. Call in now for the latest news.

The US dollar had a mixed day yesterday as preliminary GDP figures were released as expected showing that the economy grew by 1.7% whilst the previous quarters figure was also revised up to 1.7%. Other data released showed the change in the number of homes pending sale increased by much more than anticipated. Out today, data showing the change in the number of new people claiming unemployment benefits, inflation figures and the change in the levels of spending by individuals will all be released. However, the main focus will remain on the annual Jackson Hole symposium on Friday and any announcements made on further liquidity being pumped into the US economy. Get the latest news by calling in.

Elsewhere, the Polish zloty was particularly weak yesterday after the central bank all but ruled out increasing interest rates in the short term, the Hungarian forint was weakened after its central bank surprised the markets by cutting interest rates by 0.25% and the Swedish krona also struggled following the suggesting that its central bank will need to cut interest rates to 1% this year. Early this morning, business confidence statistics from New Zealand were released; as well as private capital expenditure data and building approvals figures from Australia. Later on today the main release will be the trade balance data announced in Canada. Call in now for the latest news and a live quote.

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Sterling had a mixed day yesterday weakening off to €1.2570/£1 as the markets continue to bet on the European Central Bank stepping in to stabilise Euro zone government borrowing costs by capping bond yields. With very little data on the UK’s economic agenda today, the expectation would be for volatility to remain low; however, sterling is close to a key support level against the euro. Sterling could either bounce off this support level and continue the upward trend it has shown against the euro since the start of the year or if it weakens through the support level we could see sterling lose ground very quickly. Call in now for the latest rates.

The euro had a relatively strong day yesterday following a solid bond auction in Spain and traders' expectations of central bank intervention to calm the government bond markets.  Other data released included German consumer sentiment which remained unchanged from last month. Out today the main releases will be German inflation data and Italian retail sales figures. Call in now for the latest news.

The US dollar was relatively weak yesterday as consumer confidence figures released missed market estimates.  The main release today will be the preliminary GDP figures which are expected to show the economy grew by 1.7%. Other data released includes the number of homes pending sale and the Beige book will reveal the state of the local economies from all 12 Federal Reserve Banks. Get the latest news by calling in.

Elsewhere, the main news released yesterday was that the Japanese government had downgraded its view of its own economy. Other data released included South Africa’s second quarter GDP figures which were released slightly below estimates at 3.2%, and the change in the number of new homes sold in Australia showed a sharp contraction from last month. Out today, an economic barometer from Switzerland will go some way to show the relative economic strength of the nation as well as providing a forecast for the next 6 months, whilst Canadian raw materials inflation data will also be released. Call in now for the latest news and a live quote.          


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Sterling had a poor day on Friday as revised GDP figures came in as expected showing a marginal improvement from the preliminary figures which were revised from -0.7% to -0.5%. In other news, one of the members of the Bank of England suggested that in the event of further loosening in monetary policy, a rate cut would be preferred over additional quantitative easing which was negative for sterling. Other data released showed that the Preliminary Business Investment figures were well below market estimates. A quiet week for the UK follows yesterday's bank holiday with little significant data released. As it is the final week of the summer holidays we should expect trading volumes to stay low but with so much uncertainty in Europe and heightened expectation in the US there is still the potential for a lot of volatility. Call in now for the latest rates.

The euro had a turbulent day on Friday as once again markets continued to speculate whether or not the European Central bank (ECB) will intervene in Government borrowing costs by capping bond yields and this is despite the ECB stating it would wait until after the German court ruling on the European Stability Mechanism (ESM). Some confidence was restored into the Eurozone after Germany's Chancellor stated that she wanted Greece to remain in the Eurozone and that she is working to make this so; however, made no suggestion was made that any extensions or amendments to the Greek bailout package would be given. Yesterday, German business climate sentiment figures came in below market estimates and the main other release this week will be the Italian benchmark 10 year bond auction on Thursday, whilst the ECB president will also be speaking on Saturday. Call in now for the latest news.

The US dollar had a mixed day on Friday as the Chairman of the Federal Bank hinted that further monetary policy could be used to stimulate growth and the annual Jackson Hole symposium this week is expected to give further clarification. Figures showing the change in the total value of new purchase orders placed with manufacturers for durable goods had increased by much more than anticipated; however, when transportation items were excluded the reading was much more negative showing contraction when slight growth had been anticipated. Another busy week for data this week includes Preliminary GDP figures which are expected to show the economy grew by 1.7%. Other data released includes consumer confidence figures, the number of homes pending sale, the change in the number of new people claiming unemployment benefits and the Chairman of the Federal Bank is also speaking. Get the latest news by calling in.

Elsewhere, trade balance data from New Zealand was much better than expected with a surplus of NZD15 million and Australian Conference Board index figures came out at 0.2%.  This week one of the main released will be the Canadian GDP figures which expected to show very slight growth of 0.1%. Other data released includes business confidence from New Zealand; private capital expenditure and building approvals data from Australia, and then on Saturday morning, Chinese manufacturing Purchasing Managers' Index (PMI) will be released. Call in now for the latest news and a live quote.

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Please note; due to the bank holiday in the UK on Monday 27th of August next week, Smart Currency Exchange and Smart Currency Business will not be open for trade. Business will resume as normal on Tuesday 28th. 

Sterling had a mixed week strengthening against the Canadian dollar and most notably against the US dollar where it reached a 3 month high after the Federal Open Market Committee (FOMC) meeting minutes were released but lost ground against the euro as poor UK economic data undermined sterling. The main UK economic data was the public sector borrowing figures which were worse than expected due to a rise in government spending and a fall in tax receipts. Other data released this week included figures from the Confederation of British Industry (CBI) which showed a sharp drop in manufacturers expected orders over the next three months. Out today, the main release will be the revised GDP figures and market expectations suggest that the preliminary figures of -0.7% will be revised to -0.5%. We are still in the summer season which means that trading volumes are low and therefore any unexpected events can move rates very quickly so call in now for the latest rates.

The euro has had a fairly strong week as markets continued to speculate that the European Central bank (ECB) will intervene in Government borrowing costs by capping bond yields. Other news this week included the Eurogroup chief stating that Greece was now on its “last chance” and that it is still expected to implement all necessary reforms following a meeting with the Greek prime minister. The Eurogroup chief then went onto say that there would be no discussion of any extensions or amendments to the bailout package until after the Troika report mid-September. Europe wide manufacturing and services Purchasing Managers' Index (PMI) released yesterday were better than expected; but, nearly all figures showed industry contraction. The Greek prime minister will meet the leaders of Germany and France today and any news released following this meeting could cause a lot of volatility; so, call in now for the latest news.

The US dollar had a poor end to the week following the release of the FOMC meeting minutes which indicated the Federal Bank may look to loosen monetary policy in the short term if the economy continues to struggle. A string of weak data released this week did little to help the US dollars strength as the number of existing homes sold in the previous month and the number of new people claiming unemployment benefits and manufacturing both missed market estimates. Out today, the main release will be figures depicting the change in the total value of new purchase orders placed with manufacturers for durable goods. Get the latest news by calling in.

Elsewhere, the Canadian dollar struggled this week as extremely poor retail sales figures were released showing a 0.4% drop when a marginal 0.1% increase had been anticipated. Minutes from the Reserve Bank of Australia’s (RBA) latest monetary policy meeting minutes made no suggestion it would be looking to loosen monetary policy in the near future. The Peoples Bank of China has also taken measures to increase liquidity in the world’s second largest economy. Overnight, the Governor of the RBA was speaking and first thing this morning the Governor of the Bank of Japan was also speaking. Call in now for the latest news and a live quote.

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Sterling had a mixed day yesterday losing ground against the euro and gaining against the US dollar. Data released showing that the level of public sector borrowing was worse than expected due to a rise in government spending and a fall in tax receipts undermined sterling. Other data released from the Confederation of British Industry (CBI) outlined that manufacturers expect orders to drop in the next three months by more than the market had initially estimated which is clearly a worry and again undermined sterling. The reason for sterling gaining against the US dollar was increased risk appetite arising from news elsewhere. With very little data released in the UK today the markets will keep a close eye on the meetings in Greece and the Federal Open Market Committee (FOMC) meeting minutes released in the US for influence. Call in now for the latest rates.

The euro had a relatively strong day as markets continued to speculate that the European Central bank (ECB) will intervene in Government borrowing costs by capping bond yields. Furthermore, a relatively strong Spanish bond auction helped the single currency maintain its strength. The main focus today will be on the Greek Prime minister’s meeting with the leaders of Germany, France and Luxembourg (also the Eurogroup chief) where he hopes to try and renegotiate the austerity measures that are currently in place. Any news or announcements following these meetings could cause a lot of volatility; so, call in now for the latest news.

The US dollar had a poor day yesterday weakening off against the majority of currencies as risk aversion drove the market due to central bank speculation from the ECB and The Peoples Bank of China taking measures to increase liquidity. The US market will pay close attention to the FOMC meeting minutes released this evening which should give some insight into the central banks potential for loosening monetary policy in the near future. Other data released today will show the number of existing homes sold in the previous month. Get the latest news by calling in.

Elsewhere, the Australian dollar started the day well following the release of the Reserve Bank of Australia’s (RBA) monetary policy meeting minutes which made no suggestion that it would be looking to loosen monetary policy in the near future. Other figures released showed that inflation expectations in New Zealand have decreased to 2.3% and the total value of sales made by wholesalers in Canada was much lower than anticipated. Overnight we saw the release of trade balance data from Japan; but, the main release today will be the retail sales figures released from Canada. Call in now for the latest news and a live quote.

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The summer continues with sterling having a steady day trading in a narrow range against most currencies. There was very little data out other than the monthly statistics from Rightmove which showed that the asking price of homes for sale has dropped. Out today, the main release on the agenda will be the public sector borrowing figures which are anticipated to show borrowing has reduced dramatically from last month with a surplus figure of £2.5 billion expected. Other data released includes statistics from the Confederation of British Industry (CBI) outlining the order expectations for manufacturers for the next three months. This will give the markets a good insight in how British industry is viewing the current economic climate. Call in now for the latest rates.

The euro had a positive start to the day as rumours spread that the European Central Bank (ECB) may start to set yield limits on Government bonds that it buys. These gains were short lived as the ECB stated that this idea had not been discussed and the German Central Bank (the Bundesbank) criticised the idea suggesting it would “entail significant stability risks.” With very little data out once more today the markets will look towards any suggestion of ECB intervention in the bond markets; as well as looking forward to the Greek Prime minister’s meeting on Wednesday with the leaders of Germany, France and Luxembourg (also the Eurogroup chief). Call in now for the latest news.

The US dollar remained fairly range bound yesterday in the absence of any key releases. With very little data out today, the US will look towards the UK and Europe for influence as well as looking ahead to the Federal Open Market Committee (FOMC) meeting minutes released on Wednesday evening. Get the latest news by calling in.

Elsewhere, the Hungarian forint was particularly strong yesterday, and the Australian dollar also strengthened in the run up to the Reserve Bank of Australia’s (RBA) monetary policy meeting minutes which were released overnight. The Australian dollar has moved in a narrow range against sterling in the last couple of years and is currently close to its strongest level. Other data released over night included inflation expectations from New Zealand. Later on today, the change in the total value of sales made by wholesalers in Canada will also be released. Call in now for the latest news and a live quote.


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We continue to be in the summer doldrums with sterling having a fairly steady day on Friday with trading volumes remaining relatively low and a lack of any significant data being released. This week, the main release will be the revised GDP figures and market expectations suggest that the preliminary figures of -0.7% will be revised to -0.5%. Other data released this week will be the public sector borrowing figures and data showing the change in the asking price of homes for sale. So in theory it should be a quiet week for sterling but the one problem with low volumes is that any surprises can have a disproportionate effect on exchange rates and we have seen over the last few weeks how quickly there can be a two cent movement. Call in now for the latest rates.

The euro had a mixed day on Friday as monthly Producer Price Index (PPI) inflation data from Germany came in flat when a 0.4% increase had been anticipated. Other statistics showed that current account and trade balance figures were better than estimated; whilst, Spanish and Italian bond yields had dropped providing some respite for the euro in general. This week, Europe wide manufacturing and services Purchasing Managers' Index (PMI) will be the main news on the economic agenda and should give further indication of the state of the economy’s of the nations across Europe. Call in now for the latest news.

The US dollar was fairly strong on Friday as consumer sentiment index figures came in above market estimates. A busy week for data in the US will be headlined by the release of the Federal Open Market Committee (FOMC) meeting minutes which should give some insight into the central banks potential for loosening monetary policy in the near future. Other data includes statistics showing the number of new and existing homes sold in the previous month, the change in the number of new people claiming unemployment benefits and data showing the change in the total value of new purchase orders placed with manufacturers for durable goods. Get the latest news by calling in.

Elsewhere, the Canadian dollar struggled on Friday as CPI inflation data missed expectations posting a deflation figure of -0.1% when inflation of 0.2% was anticipated. This week, a raft of data from Australia includes the latest monetary policy meeting minutes from the Reserve Bank of Australia (RBA) and the Governor of the RBA is also speaking. Other data this week includes Canadian retail sales figures, inflation expectations from New Zealand and Chinese PMI data. Call in now for the latest news and a live quote.

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Sterling had a fairly strong day on Friday despite no significant data being released. The main announcement was the Producer Price Index (PPI) figures which came in as expected. Some of the main events this week will be the release of the Bank of England inflation letter and the Bank of England’s latest meeting minutes which are expected to show that all of the members of the Monetary Policy Committee (MPC) voted to keep the asset purchase facility and interest rates on hold. Other data released this week includes Consumer Price Index (CPI) inflation data, the change in the number of new people claiming unemployment benefits and retail sales figures. With lots of data on the agenda this week there is the potential for a lot of volatility; so call in now for the latest rates.

A quiet day on the data front saw the euro struggle as Spanish and Italian bond yields started to rise once again. On the data front, French industrial production figures came out flat when slight growth had been expected. A fairly quite week in Europe includes the release of German economic sentiment figures and flash GDP data which is expected to show a recession figure of -0.2%. Despite the lack of data, any news from Europe tends to have a significant impact on the market; so, call in now for the latest news.

The US dollar had a mixed day on Friday and was sold off sharply after the US markets opened. On the data front, import prices slipped to -0.6% when a slight growth had been anticipated. A busy economic calendar this week for the US includes retail sales data, the number of new people claiming unemployment benefits and inflation data in the form of monthly PPI and CPI figures. Other releases includes of the number of new residential building permits granted as well as the Philly manufacturing index figures. Get the latest news by calling in.

Elsewhere, risk appetite was the main driver in the market once more following the release of worse than expected Chinese trade balance data. Other releases included Canadian employment figures which were worse than anticipated and weighed heavily on the Canadian dollar’s strength. This week, the main releases will include retail sales and PPI figures from New Zealand; whilst, Canadian CPI inflation data will also be announced. Call in now for the latest news and a live quote.



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Sterling had a positive day buoyed primarily by the comments from the Governor of the Bank of England who stated his feeling that cutting the central bank’s interests rates would be more damaging than beneficial; therefore, dramatically reducing the probability of an interest rate cut in the near to medium turn. He went on to say that quantitative easing remained the primary instrument to stimulate the economy from a monetary policy perspective. Furthermore, the Governor and other member of the Bank of England also expressed their feelings that the economy would rebound in the third quarter. However, contrary to this positivity the Governor downgraded the UK’s growth forecasts whilst the inflation report was also particularly gloomy. Trade balance data is the main release on the agenda today in what is otherwise a relatively quiet day in the UK. Call in now to see if sterling can remain at these levels.

The euro had a particularly poor day yesterday dropping against the majority of currencies with Spanish benchmark 10 year bond yields climbed back up to nearly 7%. Standard and Poor’s (one of the big three credit rating agencies) lowered Greece’s CCC credit rating outlook to negative which highlights the difficulties that Greece continues to have with its debt. The Bank of France downgraded its growth forecasts and German industrial production fell by more than anticipated which highlights the poor state of the Euro zone economy. With little data out today other than the European Central Banks’s monthly bulletin the markets will look elsewhere for influence; so, call in now to get a live update.

The US dollar had a mixed day yesterday with contrasting comments coming from two members of the Federal bank over the last couple of days, one of which is calling for another round of quantitative easing to be implemented and the other suggesting that no such measures are necessary. Out today, unemployment data and trade balance figures will be the main releases; so, call in now to get the latest rates.

Elsewhere, the Norwegian krone, Swedish krona and South African rand all performed particularly well yesterday. Unemployment data from New Zealand and Australia was released overnight; whilst, Chinese Consumer Price Index (CPI) inflation figures and the Bank of Japan's rate decision were also announced. Later on today, trade balance data from Canada will be released. Call in now for the latest news and a live quote.

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Better than expected industrial and manufacturing data for the UK for June released yesterday helped support sterling. This saw sterling gain nearly a cent against the US dollar and just under half a cent against the euro at the start of the day. During the course of the day we saw some of these gains given back. Today we have the Bank of England’s inflation report released which again has the potential to surprise and as we have seen surprises can result in rapid movements either way. Call in now to see how sterling is faring.

The euro continues to benefit from a belief that the European Central Bank will continue to buy the government debt of Italy and Spain. Germans support announced on Monday for the ECB’s actions was clearly very helpful. However the detail of how full intervention will work is still awaited and experience over the last two years has been one of constant disappointment. Get the latest news by calling in.

The US dollar continues to trade in a narrow range against sterling with a peak around the US$1.57/£1 level and a low at US$1.55/£1. As noted better than expected UK economic data boosted sterling in the short term as it pushed up towards the upper end of this range yesterday morning. Limited economic data out in the US today so it is likely to be news elsewhere than influences movement. Get the latest rates now by calling.

The Australian dollar pushed towards a low of 1.47 against sterling yesterday as the Australian Reserve Bank keep interest rates on hold at 3.5%. Very much as expected but highly supportive as investors wanting a triple A and high yielding currency will look no further than the Australian dollar. See how the other currencies are performing by getting in touch.

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Another difficult day for sterling. Subdued UK retail sales figures for July didn’t help and although the Olympics are going well on the medals front there are worries as to what this will do to London retail figures for August. However the major influence continues to be news elsewhere. Call in now to get the latest rate and see if this weakness is continuing.

The euro continues to benefit from the belief that the funding of government debts in the Euro zone is under control and that the European Central Bank can reduce southern state borrowing rates. I don’t think any of us think this to be true in its entirety especially as the data being released today will highlight the parlous state of the Euro zone economy. We are approaching a key support level for sterling against the euro and any breach of this could see further weakness for sterling. Call in now to see what is happening to exchange rates and if sterling is losing further ground against the euro.

Sterling continues to trade in a narrow range against the US dollar unsure which way to go. Given the high level of US unemployment there is still a belief that the Federal Reserve will pump further funds into the US economy in September which should in theory weaken the US dollar. Call in now to see which end of this range we are.

The Australian dollar continues to strengthen as the expectation for reductions in their interest rates in the August meeting of their reserve bank recede. However it should be noted that it is at the lower end of a 12 cent range that it has been trading against sterling in for the last eighteen months. Given this a reversal in the Australian dollars fortune is more than possible. Call in now for that all important update.

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Current market conditions continue to be volatile for sterling with rapid movements in either direction. Last week we saw sterling lose ground against the euro as the European Central Bank continued its rhetoric of supporting the euro whatever it takes. This week we have UK industrial production and inflation data out. The industrial production data for June is unlikely to be good especially as we had two bank holidays in the month. Inflation data being released on Wednesday and is expected to show it falling further which could support further quantitative easing this year. Call in now for the latest news on sterling and the latest rate.

The euro had a good week last week as it became clear that the ECB was beginning to make a concerted effort to “support” the euro. A raft of euro zone economic data is released this week which will highlight the parlous state of the euro zone economy. All eyes will be on the data released for Germany as to date Germany has managed to keep its economy moving forward. This may be proving to be more difficult as the southern states of the euro zone reduce their imports. All eyes will also continue to be on the interest rates that Spain and Italy have to pay on their debt. Last week we saw it oscillate around the 7% level which as we know is unsustainable. Call in to get the latest state of play and the latest rate.

The US dollar has continued to trade in a fairly narrow range against sterling. This week there is limited data out in the US and any data that is released will be carefully scrutinised to see if it will force the Federal Reserve to undertake further quantitative easing in September. Call in now to get our latest thoughts.

The commodity backed currencies especially the Australian dollar have been on a good run recently. This week we have a raft of Chinese data released which will indicate if that good run is about to come to an end given how dependent these commodity backed currencies are on the Chinese economy. Expectations are for the Chinese economy data to be slightly better than the previous month which bodes well for a soft landing. Call in now to get the latest update and thoughts on the Australian and other commodity backed currencies.

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Over the course of the week sterling has lost ground across the board as worries on the state of the UK economy continue and the possibility of the UK losing its AAA credit rating. But we did see a better day for sterling against the euro as it continued to weaken elsewhere. This was on the back of news elsewhere rather than any significant UK economic data being released. The Bank of England decided to sit on its hands and keep interest rates on hold and not increase their programme of quantitative easing. This wasn’t a surprise to the markets and therefore had little effect on sterling. Call in to get the latest rates and news releases.

The euro suffered as the rhetoric of last week from the President of the European Central Bank wasn’t supported by the announcement following their monthly meeting. A case of under delivering as the markets had reacted very positively to last week's statement that the ECB would do whatever it would take to support the euro. As a result we saw the euro lose ground across the board and yields on Spanish and Italian debt leap up. Find out what is happening today by giving us a call.

The US continues to benefit from the problems in Europe even though there was a lack of any real news in the US yesterday. Today we have the release of the highly influential non-farm payroll data which is expected to show an increase of 97,000. US unemployment is expected to stay at 8.2%. As this week's data has shown the US economy is hardly in robust shape and there is very much an expectation of further quantitative easing in September as the Federal Reserve decided to keep its powder dry at this month's meeting. Call in for an update.

The Australian dollar continues to gain ground pushing to the lower end of its two year range against sterling. Only a month or so ago it was at the top end as worries over the Chinese economy were to the fore. As ever don’t assume it is a one way street when it comes to exchange rates and call in now to get our traders thoughts.

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Sterling has continued its poor week. The purchasing managers index for manufacturing showed a significant contraction, the largest since May 2009, which undermined sterling. This coupled with the worries over the UK’s triple A credit rating has meant that there is very little support for sterling at the moment. A very mixed picture so call in for the latest update and rates.

The euro awaits today’s decisions and announcement from the European Central Bank following last week's rhetoric from the President of the ECB that they will do whatever it takes to save the euro. Interest rates on Spanish and Italian government debts have been falling but this may be short lived. Call in now to get an update and our trader’s detailed thoughts on where to next for the euro.

The US dollar has been on the main beneficiaries of the economic and debt problems in the UK and the euro zone. On Wednesday, the Federal Reserve did not announce any further measures for increasing liquidity in the US for the time being which added further support for the US dollar. The view though is that the Federal Reserve will have to pump further money into the US economy and that this could well happen in September and this would undermine the US dollar. Get an update on latest rates by calling us.

The commodity backed currencies especially the Australian dollar have seen significant strengthening over the last few weeks. Not necessarily on the back of good news at home but more on worries elsewhere especially in Europe. To find out what is happening please call us.

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Sterling was particularly weak yesterday following the news that Moody’s (one of the big three credit rating agencies) had downgraded the UK’s growth forecast. Nationwide house price index data will be released today and is expected to mirror the data released from Hometrack earlier in the week which showed that house prices have dropped for the first time in seven months. Manufacturing Purchasing Managers' Index (PMI) figures will be the main release on the agenda and will give some indication of the relative health of the UK’s economy. Call in now for the latest news and a live quote.

The euro performed fairly well yesterday despite German retail sales missing expectations and Eurozone unemployment levels reaching new record highs. Euro wide Manufacturing PMI data is released today and is expected to show continued contraction across the vast majority of Europe. Expect the markets to be fairly tentative today ahead of the ECB press conference on Thursday where the pressure is firmly on the ECB President to deliver on his comments alluding to restarting the bond buying program. Call in now for the latest news and a live quote.

The US dollar had a mixed day yesterday with renewed confidence following US consumer confidence figures coming in better than expected. Chicago PMI figures also came in better than anticipated and in turn, investors hope that the ISM Manufacturing PMI figures released today will show an industry expansion where the majority of the western world continues to contract. Other data released today includes figures showing the change in the number of employed people during the previous month, however, these figures are less influential than the non – farm pay roll data released on Friday. The Federal Open Market Committee’s statement this evening could have a big impact on the market; however, at present no further quantitative easing is expected to be announced; but, instead more guidance is expected to be given on keeping interest rates low until 2015. Call in now for the latest news and a live quote.

Elsewhere, building approvals data from Australia was better than expected and Canadian GDP data was weaker than anticipated posting a very slight growth figure of 0.1%. Overnight, Chinese PMI figures were released coming in slightly short of where markets had predicted. Call in now for the latest news and a live quote.

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