We are in a quiet period with little news and low trading volumes as most sensible people make the most of the festive period. Sterling has lost a little bit of ground against the euro and the US$. But it is against the commodity backed currencies that the biggest change has happened with sterling losing significant ground on Tuesday. This was a surprise given that China had raised their interest rates over the weekend which is usually a negative for commodity backed currencies as it signals an effort by the Chinese Government to “manage” the rapid growth of their economy.
EURO/GBP – 1.1707
US$/GBP – 1.5372
CHF/GBP – 1.4639
CAN$/GBP – 1.5337
AUS$/GBP – 1.5136
ZAR/GBP – 10.2840
JPY/GBP – 129.247
HKD/GBP – 11.9649
NZD/GBP – 2.0181
SEK/GBP – 10.5290
US$/EURO – 1.3121
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