Sending a larger amount to ? Request a Free    Multi-Vendor Quote
Charts
GBP/USD Exchange Rates:
Mid-Rate is
Exchange Rates & Fees are different for International Bank Transfers & Travel Money.  
BestExchangeRates Compare to Save on Foreign Exchange

Tuesday, 01 September 2015 - Market Commentary
Daily currency news provided by UkForex

: It was a bank holiday in the UK yesterday and although trading conditions were a bit thinner it didn’t mean that markets were any less volatile. US stocks lost ground again, a reaction in part to some fairly hawkish comments emanating from the Jackson Hole symposium on Friday; Fed Vice Chair Fischer said that “we should not wait until inflation is back to 2% to begin tightening”. All in all a rate hike could still happen in September but uncertainty prevails. Focus, for the most part, remains on China too after the events of last week with Chinese Manufacturing PMI and Caixin Final Manufacturing vying for attention overnight last night. Alas, the releases both pointed to further slowdown in the Chinese economy which did nothing positive for risk appetite. Risk remains off this morning with equities lower and the US dollar generally firmer. GBP/USD fell to a low of 1.5342 yesterday evening and although it’s climbed off of these lows overnight the pair remains on the back foot at 1.5397. UK markets are back in full swing this morning after the long weekend so we might see a bit more action this morning. Manufacturing PMI is due from the UK today followed by ISM Manufacturing PMI from the States this afternoon. A busy week for data finishes with US Non-Farm Payrolls on Friday and although this is an extremely important set of figures most of the time, it’s arguably even more important this time around with such uncertainty surrounding the timing of Fed lift-off.
We expect a range today in the GBP/USD rate of 1.5360 to 1.5420
⇒ view full report Charts : GBP/USD GBP/EUR GBP/AUD GBP/JPY GBP/CHF GBP/CAD GBP/CNY
: EUR/USD was steady throughout much of the day yesterday. Month end readjustments saw the pair fall to a low of 1.1179 on Monday despite the release of better than expected German Retail Sales data – July turnover was 1.4% higher than in June. The single currency is pushing higher this morning however and it opens in London at 1.1310. Data from the Eurozone this morning has been good so far; manufacturing PMIs have been generally positive but in line with market expectations and German and Italian unemployment data have both printed better than expected. GBP/EUR has fallen owing to this euro strength and it trades at 1.3580 currently, this after looking like it might break upwards through 1.38 on Monday.
We expect a range today in the GBP/EUR rate of 1.3510 to 1.3645
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: The RBA announced overnight that they would be leaving interest rates on hold at 2.00%. It wasn’t a surprise but it was a touch surprising that their language on China didn’t change all that much. In fact, the statement pretty much shrugged off the recent turmoil in China and with this the aussie dollar gained a few points, pushing off of the .7100 big figure to a high of .7144. It has slipped back again on London opening and trades at .7092 currently. Meanwhile, the NZD is licking its wounds a bit this morning after being whacked lower this time yesterday. The gradual unwinding of carry trade positions has hit the kiwi hard over the last week or so and it is lower against a range of currencies including the pound – GBP/NZD trades at 2.4185 currently.
We expect a range today in the GBP/AUD rate of 2.1590 to 2.1850
We expect a range today in the GBP/NZD rate of 2.4100 to 2.4380
⇒ view full report
Volatility ran riot through stocks and currency markets on Tuesday prompting a flight to haven assets as investors responded to another string of softer than anticipated Chinese macroeconomic indicators and pared expectations as to the timing of a Federal Reserve rate hike. The US dollar enjoyed a mixed session advancing against emerging market and commodity driven currency pairs after Chinese Manufacturing contracted at its fastest pace in three years while the services sector also eased. Concerns as to the true scope and size of China’s economic slowdown continue to weigh on the global outlook raising the question - Can the Fed adjust rates in the current environment?  The World’s largest Central Bank continues to promote mixed and conflicting messages clouding markets expectations. New York Fed president Bill Dudley appears to be leaning toward maintaining the current status quo while Federal Reserve Vice President Stanley Fisher suggested that a gradual increase in borrowing cost was appropriate, when speaking at the Jackson Hole Monetary Policy Symposium at the weekend. This uncertainty is driving Greenback direction and leaving the currency vulnerable to risk swings with investors looking to the safe haven Yen and Swiss Franc and lower yielding Euro as they unwind long positions. The Yen touched a one week high overnight while the Euro jumped 0.5% to open at 1.1317 this morning.
Data releases:
GDP q/q
NZD: GDT Price Index and ANZ Commodity Prices m/m
Monetary Base y/y
GBP: Construction PMI
⇒ view full report Charts : USD/EUR EUR/USD USD/JPY

BER Notebook - FX Market Research & Currency News/Views from our Partners See more >>

TorFX Research Team
Protect your International Currency Transfer from Events like ‘Black Monday’ with Risk Management Strategies Just as financial markets began to recover from months of ‘Grexit’ fears and investors started focusing on rate hike speculation again, there was another asset-shaking shift in the form of ‘Black Monday’. The state of China’s economy and the slowing pace… Continue reading
Posted on 27 August 2015 | 4:45 am
BER Team
Two charts that show the woe for emerging market currencies despite a pause in the devaluation of the renminbi, the cause of turmoil across global currencies. The implications — among them a more troubled Chinese economy than previously thought, deflationary strains in western countries and falling equity stocks — are being felt mostly by China’s… Continue reading
Posted on 24 August 2015 | 9:24 am
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Extended its previous week’s gains. USD/JPY - Lost ground last week. GBP/USD - Extended its previous week’s gains. AUD/USD - Extended its previous week’s losses. USD/CAD - Gained ground last week. NZD/USD - Gained ground last week. Continue reading
Posted on 24 August 2015 | 9:15 am
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Gained ground last week. USD/JPY - Showed little change. GBP/USD - Gained last week. AUD/USD - Reversed direction last week. USD/CAD - Lost a fraction last week. NZD/USD - Reversed direction last week. Continue reading
Posted on 17 August 2015 | 5:59 am
BER Team
Central bank moves to ease uncertainty around currency on global markets after cutting exchange rate for three days running Continue reading
Posted on 14 August 2015 | 12:23 am

Why is it that when I go into a currency vendor to send money I never get the rate on the news?

You may well think that you are being ripped off, but it is not always the case. In simple terms what you see on the news or in the paper or on yahoo finance is the Middle Rate or mid-rate. Some people want to buy a currency and some people want to sell a currency and there is a gap (or margin) between the price at which you buy and the price at which you sell. ⇒ read article

What makes sending money internationally so expensive?

There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers: Currency fees, Transit fees, Correspondent bank fees etc ⇒ read article

Advertised Foreign Transfer Exchange Rate - Accuracy Checks

Investigating reports that the exchange rates for International Money Transfers published by Financial Institutions on their websites are better than those available to their customers via Internet Banking. We will publish periodic Exchange Rate Accuracy checks here.⇒ read article

Top Five Tips for Buying Property Overseas from the UK

Whatever your motivation for buying overseas property, the following top five tips can help assure that you have a more positive experience in doing so. ⇒ read article

BestExchangeRates in the Press SMH.com.au Money

“A check with the foreign-exchange comparison website bestexchangerates.net shows a big variation in the exchange rates available when sending money and buying cash.” SMH.com.au ⇒ read article

We make it Easy to Compare the Exchange Rates & Fees of Banks and Online Currency Exchange & Payment Providers.
This is an information service. By browsing on the website and/or using our comparison tools, you are asking BestExchangeRates to provide you with information about currency exchange products & services from multiple financial institutions. We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product. If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with BestExchangeRates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details. BestExchangeRates may receive fees or other benefits in relation to activity on the BestExchangeRates website. BestExchangeRates may receive remuneration for vendor referral links.    TOS | Full disclaimer | Privacy Statement | Facebook |