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Currency Market News

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Slipping Pound
21 March 2014

Looking on the currency markets today, we see a slipping Pound, losing ground on the Euro after yesterday’s retreat against the US Dollar. In the long terms it seems that the GBP has hit its peak and is struggling to continue its growth ahead of the economic data.  What is the path for the GBP/EUR rate next? We will not be seeing a walk in the park; if you are looking at sending money abroad soon within the Eurozone we suggest you speak with one of our team to book a rate soon to better your chances in case the market movement is much larger.

Across the pond we have noted a strong potential within the recent days for the US Dollar finding strength across the broad. Despite the Ukrainian crisis, American investors feel enticed towards the USD and its relative safety as a currency. Having largely moved interests from the euro and pound, the GPB/USD rate fell back over the two cents mark over the past two weeks.  All of these changes come into play as we see worse than expected US Jobless claims posted.

If you are keyed up on the currency markets, the only real data that may pose some changes today is the Canadian inflation figures due out at 12.30 GMT. Currently sending money to Canada is over 20% cheaper than last year and if you have followed recent trends you will make note of cheaper payments being the best since mid 2009.

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