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£/€
Range of the week: 1.2341 - 1.2449
Variance of the week on £10k=€108
Variance of the week on £1,000pm=€10.80


This week the Euro-Zone crisis continues to take the majority of the headlines, with Greece very much at the fore. The IMF have come out this week and said they have more to do to restore their finances.

More and more noises now seem to indicate central bankers and politicians are planning for a Greek exit for the Euro. Former Greek Prime Minister Lucas Papademos said: "It cannot be excluded that preparations are being made to contain the potential consequences of a Greek euro exit. The risk of Greece leaving the euro is real and it depends effectively on whether the Greek people will support the continued implementation of the economic programme."

In the UK the IMF have made a statement this week suggesting Bank of England should be considering more QE and even the potential of us reducing down our interest rate from 0.5%. The MPC minutes were released this morning showing they all voted to keep rates on hold and voted 8-1 in favour of not extending QE.

This (QE), however was made potentially more likely in the coming months as figures released yesterday showed that inflation had dropped to over a two year low at 3% giving the MPC more room to vote for extending our current QE programme in their next meetings.

Story here


£/$
Range of the week:1.5673 – 1.5848
Variance of the week on £10k= $175
Variance if the Week on £1,000pm=$17.50


The US has been warned they could fall off a "fiscal cliff" if tax rises and spending cuts due to take effect at the end of 2012 are not avoided. With the US economy shrinking at a rate of 1.3% in the first half of 2013, and effectively going back into recession, according to the Congressional Budget Office.

Story here


£/AUS
Range of the week: 1.5925 – 1.6162
Variance of the week on £10k= AU$237
Variance of the week on £1,000pm = $23.70


No major news or data for the week so far.

However AUD,NZD,CAD & ZAR are all moving dependant of how investors are feeling. With the Euro-Zone seemingly dictating their risk on/off positions.


£/NZD
Range of the week: 2.0613 – 2.1045
Variance of the week on £10k=NZ$432
Variance of the week on £1,000pm =$43.20


No major news or data for the week so far


£/ZAR
Range of the week: 12.986 – 13.231
Variance of the week on £10k=ZAR2, 450
Variance of the week on £1,000pm =ZAR245


No major news or data for the week so far


£/CAD
Range of the week: 1.6027 – 1.6177
Variance of the week: on £10k=$150
Variance of the week on £1,000pm =$15.00


No major news or data for the week so far.
 
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