Pound Australian Dollar, Pound New Zealand Dollar and Sterling Euro down as central banks announce coordinated action

Published: Wednesday, 30 November 2011 15:19 BST - Written by Tim Boyer

STORY LINK Pound Australian Dollar, Pound New Zealand Dollar and Sterling Euro down as central banks announce coordinated action

The Euro Pound exchange rate today EUR GBP is trading at 0.85593, up 0.22%.
The Pound Euro exchange rate today EUR GBP is trading at 1.16744, down 0.16%.
The Pound Dollar currency rate GBP USD is trading at 1.57387, up 0.91%.
The Pound Australian Dollar currency rate GBP AUD is trading at 1.53061, down 1.7%.
The Pound New Zealand Dollar currency rate GBP NZD is trading at 2.01726, down 1.28%.

Some central banks including the US Federal Reserve, the Bank Of England, the European Central Bank, Bank of Canada, Bank of Japan, and the Swiss National Bank
moved in a coordinated action to allow banks to access dollars easier.

The plan, to be actioned early December, will see them make it cheaper for banks to buy US Dollars (USD) thus encouraging them to lend more freely. It is hoped that will see businesses and households acquire finance more freely.

The announcement saw markets react strongly, likely reassured by some positive action to aid the global finance crisis.

Exchange rates also moved sharply, with the biggest movers being the Australian Dollar, New Zealand Dollar and Euro all showing gains against Sterling and the Dollar. Sterling Aussie Dollar (GBP AUD) down by 1.7%, Sterling NZ Dollar (GBP NZD) down by 1.28% on the day.

Share prices for leading banks including Barclays and Lloyds also saw gains on the news of the central banks action.

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