The Euro is trading at 1.0765 at present.  The low has been 1.0716 while the high has been 1.0801.  The Euro has firmed versus the US Dollar today despite limited economic data coming from the euro zone.  This strengthening is the result of speculation in regards to a number of the geopolitical issues that the Euro is facing presently.  The Greek debt situation has not improved but there are several considerations entering the equation as a possible solution.  One of the more prevalent considerations is the fact that the ECB is considering placing Greek banks under even tighter lending rules in exchange for them having access to opportunities for emergency liquidity.  This idea is not likely to be accepted very well by the Greeks who are looking to be relieved of the current austerity measures.  This will place them under the cloud of a deeper austerity position.  Earlier, Italian Retail Sales were -0.2% which was lower than expected.  This information did little to slow the advance of the Euro this morning.  Later this morning will be the release of the European Consumer Confidence number.  This may be helping to boost the Euro ahead of the actual release of the data.

The British Pound is trading at 1.5058 currently.  Sterling traded as low as 1.4912 while the high has been 1.5075.  Cable rallied after the release of the last round of voting on interest rates and asset facility purchasing.  The MPC Official Bank Rate vote and MPC Asset Purchase Facility vote was 0-0-9 in each case.  This means that there were 0 votes for an increase, 0 votes for a decrease, and 9 votes for policy to remain unchanged.  The support for the current policy is seen as encouraging for the UK economy and as such, Sterling rallied and remains poised to pressure the upside at this point in the day.  US housing data is to be released later this morning which could give the Pound another push to the upside if the data is not as good as what is expected.  Tomorrow will see the release of UK Retail Sales and Public Sector borrowing which, if positive, could confirm current sentiment seeing the Pound firm even more.

The Japanese Yen is trading at 119.59 at the moment.  USD/JPY has traded at a low of 119.34 while the high has been 119.78.  There has been no significant economic data released out of Japan today which is helping the currency to maintain a consistent range bound status.  With the Yen, there is a case of more of the same happening at the moment.  Nothing yet appears likely to see a breakout of the wider parameters of 118.00 – 121.00.  Trading is expected to stay within this range.

AUD/USD is trading at 0.7785 with the low being 0.7701 while the high has been 0.7807.

USD/CAD is trading at 1.2244 with the low being 1.2210 while the high has been 1.2287.


This information has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.