Currency Calculator

Use the currency calculator to calculate the rate of exchange.

GBP Flag

1 GBP = 1.11935 EUR

EUR Flag

1 EUR = 0.89303 GBP

Change Currencies Currency Providers

US Dollar recovers slightly as Congress hints at compromise

options instead of using a bank

Compare Money Transfer currency report

US Dollar

The ‘Greenback’ recovered some ground due to signs that a compromise among US lawmakers may be possible over the ongoing federal government shutdown and the approaching October 17th deadline for raising the debt ceiling. Congressional leaders said that they may be open to a short-term increase in the nation’s debt limit. The currency also found support after the latest Federal Reserve minutes showed that most policymakers were still in favour of scaling back its stimulus programme by the end of the year.

Pound Sterling

The Pound is little changed ahead of the Bank of England’s latest monetary policy decision. Economists are expecting the Central Bank to maintain its bond-buying programme and keep interest rates at the record low level of 0.5%. Yesterday the currency tumbled against its peers due to the release of worse-than-expected industrial and manufacturing data. The UK’s trade balance also narrowed less-than-expected.

The Euro

The Euro is little changed against Sterling after the latest data out of France showed that on a month-by-month basis industrial production in the Eurozone’s second largest economy retuned to growth in August. On a yearly basis however production is down by 1.6%. The single currency could find some support later in the session if data out of Italy and other Eurozone nations shows signs of improvement. Today also sees the release of the Eurozone’s monthly report and Greek unemployment figures.

Australian Dollar

The ‘Aussie’ weakened against most of its peers after the latest jobs data disappointed. Economists had expected that 15,000 new jobs had been created in the Australian economy, instead only 9,100 were made. An upside to the figures was that the nation’s unemployment rate fell from a four-year of 5.8% in August to 5.6% in September.

New Zealand Dollar

The ‘Kiwi’ followed its Australian relation downwards after manufacturing data out of New Zealand showed that output fell to 54.3 in September from the 57.1 recorded in August. Against the US Dollar the currency tumbled after Janet Yellen was nominated to replace Ben Bernanke at the US Federal Reserve and as hopes for a deal on the government shutdown appeared more likely.

Canadian Dollar

The Canadian Dollar is weaker against the US Dollar but edged higher against the Pound due to the release of negative data in the UK. The Canadian currency is likely to see muted trading today as economists await the release of a number of important employment data reports on Friday.

South African Rand

The Rand weakened against many of its peers after last night’s US Federal Reserve minutes showed that the Central Bank’s policy makers were in favour of tapering the monetary easing programme which has benefitted the Rand and other emerging market currencies. The currency could find support if today’s latest manufacturing production data for August comes in higher than expected.

Leave a comment

What's the press saying about Compare Money Transfer Ltd?

Top 10 Money Transfer Companies