11/02/08 The Pound has followed yesterday’s drop with further losses against major currencies. The Bank of England’s governor Mervyn King spoke about a deep recession in the UK which has further dented confidence in the UK economy, leading to a sell-off for the Pound.
Mid-market rates at 1700 GMT:
Sterling – Euro = 1.1149
Sterling – US Dollar = 1.4355
Sterling – Australian Dollar = 2.1978
Sterling – New Zealand Dollar = 2.7340
Sterling – South African Rand = 14.1849
Sterling – Canadian Dollar = 1.7843
Tomorrow sees the European Central Bank’s monthly report, as well as US jobless claims in the afternoon, so it could be another volatile day on the forex markets. For those of you sending money to New Zealand, tomorrow night could be key with NZ retail sales announced.
Whether you need to send or receive any currency, make sure you have a reliable currency broker working to get you the best available exchange rates.
