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Movement in rates:1.1987 -1.2223
Variance of the week on £100,000 = €2360
Eurozone CPI remained broadly in line with expectations, remaining at 0.7%. An influential survey in Germany ( The ZEW) revealed disappointing expectations for German economic growth.
The IMF lifted spirits with a new global economic growth forecast for 2014 to 3.7%, from 3.6%, last forecast in October 2013. The UK seems to have had a major influence as the UK is showing signs of increased confidence. With further good news on the UK unemployment rate, the GBP/EUR rose to the highest level since Jan 10th, 2014.
Movement in rates: 1.6309 – 1.6551
Variance of the week on £100,000 = $2420
The US inflation grew by 1.5%. This is in line with expectations and has allowed the US to leave interest rate changes on hold.
The US Dollar has continued to remain in the 1.62 – 1.66 range against GBP, as it has done for about 2 months.
Movement in rates : 1.8373 – 1.8750
Variance of the week on £100,000= $3770
Jobs in Australia continue to influence the rates. The number of jobs created was down by just over 22,000. The markets expected over 10,000. As a consequence, Sterling improved against the Australian Dollar to its highest level since September 2009. Recently, GBP /AUD nudged 1.875.
Movement in rates: 1.9550- 2.0009
Variance of the week on £100,000 = $4590
GBP/ NZD rates continue to nudge past recent highs of 2.02, but may be held back by the high possibility that the RBNZ will raise interest rates at their next meeting.
Movement in rates: 17.7180 – 17.9519
Variance of the week: on £100,000= R23390
Not much happening with GBP/ ZAR this week. However, worth mentioning that GBP is currently at its highest level since October 2009.
Movement in rates: 1.7828 – 1.8155
Variance of the week: on £100,000= $3270
It seems that August to October 2009 was a watershed period for GBP against most major currencies. The Canadian Dollar is no exception. GBP/ CAD is now the highest its been since August 2009.