Latest Exchange Rates At Time Of Writing
Indicative Rates Sell Buy
GBPEUR 1.1943 1.1971
GBPUSD 1.5693 1.5718
EURUSD 1.3125 1.3146
The latest labor markets figures that were released are enough to prove that the rate of employment in UK had gone up by 286,000 since July. But then the level of unemployment growth hasn’t been to a great extent. The same holds for the foreign exchange rates. Nothing has been marvelous but then the growth and its rate is praiseworthy. However every statistics shows that the labor market is turning before the spending cuts is in force. Even the retail sales data shows a rise in the household incomes as well. The rates show that the average income rate has picked up since July which is a good sign. But employment rises here would have an adverse affect.
However Mervyn King has supported the government’s decision of spending cuts. This is because the rate of public borrowing is something which is not at all sustainable. This makes the ‘clear and credible’ deficit reduction plan of the government a wise one for King. This might have adverse affects on a number of areas like the foreign exchange rates but then it is worth the risk.
The finance minister of Greece has ruled out the theory that Athens with default and restructure the debt it has incurred. If it is done, it would seriously affect the eurozone. In order to sustain the unity of the eurozone, this much regulation has to be maintained. The interest rate that has been released by SNB during the lunch time hasn’t shown any difference. Today’s day would be of great importance with the data kicking off with UK’s retail sales that have been on since August. So if you have some major plans with the foreign exchange rates, watch out for the best possible deals.