Pound, Euro both steady as rescue plan is discussed

27 September, 2011


As markets await news from Eurozone officials on a renewed strategy to help Europe’s ailing banks, the Euro has remained relatively stable against sterling, with relatively good rates available for sending payments in Euros.

It is the US Dollar which has weakened today, with USD rates recovering from overnight lows against both sterling and the Euro. Weaker US consumer confidence, along with some renewed hope for a Euro rescue package, have seen rates for USD transfers improve by 1.5c today.

The next important scheduled data release for the Pound is tomorrow morning’s credit report by the Bank of England. As always do contact us at Currency Index if you would like to be alerted to any major movements in exchange rates for your own transaction.