Foreign exchange rates: GBP slumps vs EUR
The Pound Dollar exchange rate is 0.380% higher on the day with 1 GBP = 1.6130 USD.
The Pound Australian Dollar exchange rate is 1.087% higher with 1 GBP = 1.6012 AUD.
"The British Pound slumped for a third straight day against the Euro, dropping to a low of 1.1505 this morning, as money markets continue to scale back expectations that the Bank of England will raise interest rates," says Adam Solomon, a foreign exchange rate analyst at Tor Fx.
The Euro also made strong gains against the majority of the 16 most actively traded currencies, as European Union finance ministers announced a deal to effectively bring a halt to the sovereign debt crisis.
With Europe poised to raise their benchmark lending rate in April, some peripheral economies are still struggling with recession, but news of the revamped bailout plan will be a source of encouragement to investors.
The Pound was 0.3% against the Euro by midday in London and the UK currency may come under further selling pressure after pushing through support at 1.1550.
Share This
Subscribe Here
0 komentar:
Post a Comment
-Best Regards-