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1 GBP = 1.09598 EUR

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1 EUR = 0.91201 GBP

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Foreign Exchange Currency Rates

Overnight/Morning Ranges:

EUR/USD 1.4458-1.4511

GBP/USD 1.6138-1.6231

GBP/EUR 1.1156-1.1202

Stock markets a little lower, USD mixed after China hint at rate rises. We have German GDP data today as well as U.K. manufacturing and industrial output data. The Pound holding firm after improved U.K. trade balance data released yesterday. Opening near the € 1.1200 level again and $ 1.6210.

EUR/USD currently 1.4480. Support 1.4200, resistance 1.4500.

GBP/USD currently 1.6213. Support 1.6000, resistance 1.6300.

GBP/EUR currently 1.1190. Support 1.1100, resistance 1.1350.

Oil $ 80 Gold $ 1128

Stock Markets:

Dow -0.3% FTSE -1.1% Nikkei -1.3%

The pound made a significant gain against the dollar today due to comments made from a BoE policy maker, while the dollar still struggles against the sterling and the yen. While the euro still remains vulnerable to the debt problems in Greece.

UK markets - Pound Sterling -

The Sterling has leapt to a nine-day high against the US dollar this morning following the comments made from BoE Monetary Policy Committee member Andrew Sentance, who said "that the central bank was close to holding back to gauge the impact stimulus has had on the economy".

A strong retail sales survey added to the pound’s gains as it traded comfortably at USD1.621 and EUR1.117 at 09:04 GMT.

US Markets - US Dollar

The US dollar has not changed much against the euro in early trading but did fall significantly against the yen yesterday after the People's Bank of China increased the amount of reserves Chinese banks must hold in order to slow the growth of credit.

At 0905 GMT the greenback traded at 0.616 against the pound and 0.689 against the euro. As the data flow hits a dry patch, trades are still being driven by last Friday’s US Non-Farm payrolls report. However, today's trading may be influenced by the release of the US Federal Budget Balance later on.

European Markets - Euro

The euro has been giving off mixed signals as the Greek sovereign debt once again looms over the single currency.

In a statement, the Greek Finance Minister said the country had “emptied all the skeletons out from its closet” and this went some way towards supporting the euro, which currently sits at 0.894 versus the pound and 1.450 against the US dollar.

Other Currencies - Highlights

The yen made significant gains against the pound and the euro in overnight trading after China stepped up its restrictions on required Chinese bank reserves.

At 0920 GMT the yen tested the pound at 147.81 and held the euro at 132.21.Please note: All rates reflect a live market position and were correct at the time of writing.

All Foreign exchange currency converters provides live exchange rates and free SMS rate alerts on more than 1,770 currency pairs.

The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.

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