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Currency Market News

Our blog is below, to help you understand what's moving currency rates and affecting the cost of your international payments. For some friendly guidance on your own transactions, either for your business or yourself, simply fill in the form above and an FCA-regulated currency broker will be in touch to assist you, without any cost or obligation.

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Pound remains flat against Euro
24 April 2014

Already this week we have seen a quiet, flat week with little news for trading and any gains for the Pound. Trading opened yesterday for the Euro to take up to a cent on Sterling following the continued position from the Bank of England not to vote for further Q.E. all of which had been expected. Still the positive PMI results helped the Euro with some little gains across the board. Sterling remains in a key position against what is already a weak US Dollar and we are seeing some of the best buying rates for over five years here at International Payments.


Today forms a little bit of a shake up to the current lows and stagnation between the Euro and Sterling. We have already seen ECB President Draghi maintain his strong position and how deflation will be something the Eurozone will not see in the near future. Noting on previous speeches by Mario Draghi the euro typically does see some positivity off the back of these talks.


Brightening the afternoon key data releases we have the US release a raft of data. Durable goods orders and US jobless claims start themed afternoon rally for the currency markets. The lacklustre nature that has followed the USD in the past few weeks has kept traders looking for new safe havens with a brighter outlook. Still the US data could see some positive data and send the USD back to recent highs and you may want to act quickly to gain.


The only real push for data UK based we see is tomorrow with UK Retail Sales being released, which last month showed some significant gains notably for the Pound against the single currency. The boast we look to see again will keep many traders happy but also allow us to have much more confidence in the Pound as we see numerous factors build the strength of the currency.


 


If you are looking at making the most of the good run of key data releases and send money abroad soon speak with our team at International Payments.

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