Feb23
Foreign Exchange Rates
By Alex Ellis
Current foreign exchange rates are showing that Sterling is holding steady following losses during the course of last week, the most notable loss is for the GBP/AUD exchange rates which are currently trading at a 25 year low. For those looking to sell Australian Dollars and buy Sterling this is positive news as you may see a substantial return on your currency purchase
Meanwhile for those looking to trade Euros the exchange rates have seen significant losses compared to trading levels seen during recent weeks. I believe that this is on the back of the speculation surrounding Gordon Brown’s bullying as it shows a degree of political uncertainty and furthers the possibility of a hung parliament. The most significant data due out this week is German GDP data due out tomorrow at 07:00 (GMT), as Germany is considered one of the most major economies in the Euro zone any data they release can cause exchange rate movements if deviating from what has been predicted.
Archived in: Australian Dollar, British Pound, Euro








