Dollars to Pounds Exchange Rate – GBP EUR Rate Lower Again As IMF Confirms $500bn To Bail-Out Fund
20 Jan 2012 at 9 AM - Written by John Cameron
The Pound Euro exchange rate (GBP EUR) is 1.1975. The Pound Dollar exchange rate (GBP USD) is 1.5488. The Pound Australian Dollar exchange rate (GBP AUD) is 1.4884.
The major news story in the currency markets yesterday came with confirmation from the International Monetary Fund of rumours from earlier in the week that they are set to seek to raise a sum of $500bn in order to bolster their global stability fund.
The IMF’s Managing Director, Christine Lagarde, commented that the additional fund-raising effort by the organisation, which looks set to be primarily provided by European member states, would be used largely to bail-out distressed Eurozone economies. €150bn of the additional funds has already been ear-marked for this purpose. Lagarde went on to state that the IMF would ultimately need to raise $1tn in bail-out funding in order to cover potential future liabilities from debt-stressed nations unable to meet their commitments.
The main beneficiary of the IMF’s statement was the Euro, which saw the GBP EUR exchange rate edge further down from last week’s 16-month high to touch off 1.1935 in the overnight session.
Meanwhile, the safe-haven US Dollar endured its fifth day of losses on the trot against Sterling. The GBP USD rate has traded back above the 1.5500 level for the first time in 10 days overnight, as global stock markets continued their move higher.
The major risk event for investors holding Sterling-denominated assets will come in the form of this morning’s UK Retail Sales data for the key month of December. Analysts have high expectations for the number, with the general consensus being that it will show an annualised increase in British shop sales of 1.70% last month. Anything below this couse see the Pound lose further ground against the Euro.
For other live currency exchange rates and a currency converter see the currency news website.
STORY LINK Dollars to Pounds Exchange Rate – GBP EUR Rate Lower Again As IMF Confirms $500bn To Bail-Out Fund
The Pound Euro exchange rate (GBP EUR) is 1.1975. The Pound Dollar exchange rate (GBP USD) is 1.5488. The Pound Australian Dollar exchange rate (GBP AUD) is 1.4884.
The major news story in the currency markets yesterday came with confirmation from the International Monetary Fund of rumours from earlier in the week that they are set to seek to raise a sum of $500bn in order to bolster their global stability fund.
The IMF’s Managing Director, Christine Lagarde, commented that the additional fund-raising effort by the organisation, which looks set to be primarily provided by European member states, would be used largely to bail-out distressed Eurozone economies. €150bn of the additional funds has already been ear-marked for this purpose. Lagarde went on to state that the IMF would ultimately need to raise $1tn in bail-out funding in order to cover potential future liabilities from debt-stressed nations unable to meet their commitments.
The main beneficiary of the IMF’s statement was the Euro, which saw the GBP EUR exchange rate edge further down from last week’s 16-month high to touch off 1.1935 in the overnight session.
Meanwhile, the safe-haven US Dollar endured its fifth day of losses on the trot against Sterling. The GBP USD rate has traded back above the 1.5500 level for the first time in 10 days overnight, as global stock markets continued their move higher.
The major risk event for investors holding Sterling-denominated assets will come in the form of this morning’s UK Retail Sales data for the key month of December. Analysts have high expectations for the number, with the general consensus being that it will show an annualised increase in British shop sales of 1.70% last month. Anything below this couse see the Pound lose further ground against the Euro.
For other live currency exchange rates and a currency converter see the currency news website.
TAGS: American Dollar Forecasts Daily Currency Updates Dollar Pound Forecasts Euro Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Sterling Forecasts
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