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Currencies DirectThe Pound closed out last week on a fairly stable footing against the majority of its peers, with the currency looking to consolidate Thursday’s gains after some notable movement in currency markets.
Sterling appears to be falling back again this morning however, while GBP/EUR is holding steady at €1.1442, the majority of pairings are sliding, with GBP/USD tumbling to $1.3232, GBP/CAD dropping to C$1.7449 and GBP/AUD and GBP/NZD dipping to AU$1.7790 and NZ$1.9077 respectively.
Looking to today’s session, a number of speeches by various central bank policymakers, including the ECB’s Mario Draghi, are likely to be the driving force in currency markets.

Why do exchange rates move so much?Here at Premier FX, this is a question we get asked very often. And it’s not difficult to see why, when just a few percentage points movement can make a huge difference to the amount of money you will receive when making a transfer.

And the fundamental thing to understand is that currency exchange is a true market. That is, the relative values depend on supply and demand, and all currencies have a “price”. It’s exactly the same principle as your local food market. If there’s a strong demand for vegetables for instance, but bad weather has damaged crops thereby reducing supply, then the prices in the market will go up.

Currency markets saw some considerable movement yesterday, with the Pound taking a back seat as markets focused on the Euro in the wake of the ECB’s decision to call time on its bond purchases.
Sterling appears to be pulling back again this morning, with GBP/EUR edging down to €1.1443, GBP/USD tumbling to $1.3213 and GBP/AUD dipping to AU$1.7724. Meanwhile GBP/CAD and GBP/NZD are holding steady at C$1.7373 and NZ$1.9060 respectively.
Looking to today’s session, the US dollar may strengthen should domestic consumer sentiment rise in line with expectations…

Currencies DirectThe pound plummeted on Monday as some lacklustre domestic economic data weighed heavily on the UK currency.
Sterling appears to be largely muted this morning, with GBP/EUR flat at €1.1346, GBP/USD virtually unchanged at $1.3375, while GBP/CAD and GBP/AUD hold steady at C$1.7374 and AU$1.7558 respectively. Only GBP/NZD is currently showing any real signs of movement as it tumbles to NZ$1.8994.

The pound tumbled against the majority of its peers on Monday as renewed concerns over Brexit eliminated the gains granted by the UK’s latest construction report.
Sterling appears to be broadly flat this morning, with GBP/EUR holding steady at €1.1392, GBP/USD stable at $1.3320, GBP/CAD muted at C$1.7222, while GBP/AUD and GBP/NZD are both holding steady at AU$1.7420 and NZ$1.8923 respectively.

Weekly Financial Update

The Pound has been having a bit of a rough ride against a strong US Dollar. The USD strength has lasted for quite a time now, especially against the Euro. This has kept STG/EUR up quite a bit. That pair is being influenced by the movement in GBP/USD and EUR/USD at the moment and is taking its cross currency title very seriously.

Currencies DirectThe pound fell back again on Monday, suffering heavily losses against the majority of its peers as renewed Brexit uncertainty dragged on the currency.

Sterling appears to be holding its ground in early trade today however, with GBP/EUR flat at €1.1401, GBP/USD virtually unchanged at $1.3446, GBP/CAD stabilising at C$1.7163, while GBP/AUD and GBP/NZD are both holding steady at AU$1.7699 and NZ$1.9303 respectively.

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