Pound Euro fairly flat today – Further drop against U.S Dollar and a welcome climb against the Australian Dollar, New Zealand Dollar and South African Rand

Pound to Dollar Rate Supported by UK GDP Data

The Pound has had a mixed day of trading so far staying fairly flat against the Euro during a week of gains, dropping away against the Dollar as investors plunge back into safer havens.

We also have seen fairly good gains against the Australian Dollar following poor unemployment figures overnight and the prospect of seeing poor GDP figures for China tomorrow, which may lead to a great end to the week for those in the process of emigrating either currently or in the near future.

The Pound has once again had a poor run against the so called ‘riskier currencies’ such as the Australian Dollar, New Zealand Dollar and South African Rand and could really do with making a fightback, tomorrow hopefully may be the catalyst for this. Personally I feel we aren’t far away from another front page European ‘crisis’ subject and that alone may push these currency pairings back in the right direction again as half the reason we have been held back is due to the fact that although all has  far from gone quiet on the European crisis front there is a little bit of certainty surrounding the situation.

Global certainty tends to strengthen the riskier currencies and can weaken the Dollar so another big spanner thrown in the works surrounding the European situation could lead to further Dollar strength and a buying opportunity for those with an interest in AUD, NZD and CAD.

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