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£/€
Range of the week: 1.1959 to 1.2020
Variance of the week on £10k=€161


Major news or data for the week so far:

This week so far has been relatively quiet for GBP-EUR as reflected in the range for the last three days. This week’s main focus for GBP-EUR will be the interest rate decisions from the Bank of England & the European Central Bank this Thursday. The Bank of England is widely expected to keep rates as they stand & not much change is expected with the European Central Bank either.

Further information to be aware of is that the latest European Summit approved the Fiscal pact but did not yet reach an agreement on the capacity of the rescue mechanisms. Currently stands at 750 billion Euros which breaks down as 250bn for the European Financial Stability Facility (EFSF) & 500bn for the European Stability Mechanism (ESM).

Finally-Greece has until Thursday 8th March (tomorrow) to complete a bond exchange with its private creditors. If Greece fails to complete a deal-it could threaten its recently agreed 130 billion Euros bailout & risk a messy default


£/$
Range of the week: 1.5696 to 1.5881
Variance of the week on £10k=$185


Major news or data for the week so far:

Again-it has been relatively quiet for cable as well. The main focus in the US this week will be the monthly US employment report (non-farm payrolls) which will come out on Friday. The USD has been gaining against a host of currencies this week primarily on the back of Greek concerns which has dampened risk appetite & re-invigorated the dollar’s status as a safe haven currency.

The main focus in the States is still the Republican primaries which puts Romney as the clear favourite for the Republican Party but Rick Santorum has been mounting a surprising challenge


£/AUS
Range of the week: 1.4871 to 1.4956
Variance of the week on £10k=85 AUD


The main story for the Australian dollar this week has been the GDP figures that came out worse than expected. 0.8% growth was expected & it came out at half of that at 0.4%.

On the back of this-the Australian dollar slumped to 6 week low against the USD but, unfortunately, has hardly moved against the pound


£/NZD
Range of the week: 1.9209 to 1.9488
Variance of the week: on £10k= 279 NZD


The only news for the NZD this week is the interest rate decision due to be taken on Thursday. No real market expectations as to whether rates will remain on hold, will be lowered or increased


£/ZAR
Range of the week: 11.87 to 12.05
Variance of the week: on £10k= 1800 ZAR


No major news or data for the week so far


£/CAD
Range of the week: 1.5648 to 1.5801
Variance of the week: on £10k= 153 CAD


No major news or data for the week so far
 
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