Pound Sterling down against Euro Dollar as GBP EUR, USD, CNY, CZK, HKD, NOK, SEK and ZAR decline.

December 16, 2011 - Written by John Cameron

STORY LINK Pound Sterling down against Euro Dollar as GBP EUR, USD, CNY, CZK, HKD, NOK, SEK and ZAR decline.

The Pound Euro exchange rate GBP EUR is trading at 1.19146, down 0.07%. The Pound Dollar exchange rate GBP USD is trading at 1.55236, down 0.17%.
The Pound Australian Dollar exchange rate GBP AUD is trading at 1.55074, down 0.31%. The Pound New Zealand Dollar currency rate GBP NZD is trading at 2.05411, down 0.84%.
The Sterling Swiss Franc exchange rate GBP CHF is trading at 1.45866, down 0.33%.

As is the norm for the pre Christmas period, the markets have calmed despite the downgrading of seven major banks by the credit rating agency and the IMF head Christine Lagarde's comments today.
She spoke at the US State Department earlier today and said the outlook was gloomy.

Credit agency Fitch altered France's rating to negative, whilst putting several other European countries on a Rating Watch Negative. The Euro fell against the Dollar (EUR USD) following Fitch's outlook.

Meanwhile UK data released showed a 0.4% decline in retail sales, a figure slightly under forecast. The Pound Sterling has remained steady against the Euro (GBP EUR) with a 10 month high today, which is currently at 1.19146.
The Pound found support against the US Dollar and has finished trading at 1.55012, down 0.14% on the day.

Tensions between France and the UK mount as the French financial minister called for the UK's credit rating to decreased.

The Euro crisis deepens as Hungary and Czech Republic have stated they will not sign the new EU Treaty if the tax harmonisation elements remain. The UK will now have officials at the next EU meetings, despite having vetoed.

For Sterling Euro currency exchange, foreign exchange, live exchange rates today and a full currency converter please see the Currency News website.

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