Latest Exchange Rates At Time Of Writing
Indicative Rates Sell Buy
GBPEUR 1.1786 1.1815
GBPUSD 1.5682 1.5706
EURUSD 1.3289 1.3309
The Fed Meeting has been one of the most phenomenal incidents that have occurred in the recent past. It is a committee decision of great importance. The interest rates and the foreign exchange rates are almost close to zero and now the question is whether the rates would rise or not. The rise in the rates of QE in the economy would help to increase the level of spending in the US economy. But though it is warranted it might not happen very soon. Fed would be requiring another conformity dip in both retail and business spending along with the rise in the level of employment. The link between the equities, bonds and commodities have proved to be a broken one which again has proved to be of alarming nature in foreign exchange. The equity market too is destined to burst out if the QE2 is not launched immediately. This would be of the similar burst that has already been experienced at Ireland foreign exchange.
Apprehensions over the indebted banking sector are on the rise and the same holds for the sorry state of fiscal issues in the state. Even the attempts of befriending with the market conditions have proved to be ineffective. This is because of the debt that is being faced by Ireland has reached a record high position. As a result of this Ireland was forced to enter into a debt auction today while the auctions from Spain and Greece are due tomorrow. In the face of Euro, the rise of Sterling has been too meager but then the lending of this country fell to a great extent. This shows that it was an exceptionally busy day in the market with the Fed Meeting, UK foreign exchange and economy making news.