Sterling remains steady at market quietens for Xmas

Published: 23 December, 2011

Sterling had a steady day against most currencies yesterday as the market quietens in the build up to Christmas.

Currency rates - December 23

This week - (Last week)
EURO/GBP 1.1990 - (EURO/GBP 1.1906)
US$/GBP 1.5690 - (US$/GBP 1.5508)
CHF/GBP 1.4660 - (CHF/GBP 1.4594)
CAN$/GBP 1.6001 - (CAN$/GBP 1.6002)
AUS$/GBP 1.5435 - (AUS$/GBP 1.5531)
ZAR/GBP 12.8002 - (ZAR/GBP 12.9772)
JPY/GBP 122.50 - (JPY/GBP 120.84)
HKD/GBP 12.2125 - (HKD/GBP 12.0741)
NZD/GBP 2.0250 - (NZD/GBP 2.0409)
SEK/GBP 10.7545 - (SEK/GBP 10.7912)
AED/GBP 5.767 - (AED/GBP 5.696)
US$/EURO 1.3082 - (US$/EURO 1.3010)

Slight revisions to previous growth figures were released but it is future growth that most people are worried about and the uncertainty in the euro zone has a very significant knock on affect to us. A fall back into recession is thought to be highly likely.

The main event for the euro happened on Wednesday with the ECB's three year funding for the banking system coming to a close. Near enough €500 billion was lent to the banks and is an important step in maintaining liquidity as banks pulled in their "lending" to other banks.

The US continues to move in a narrow range against sterling. The US economy is clearly ahead of the curve when compared to Europe but it is anticipated there will be some economic headwinds that make it across the Atlantic.

We circulated our opening hours yesterday for the holiday season but it is very much business as usual. If for whatever reason you do have difficulty getting through by phone please use the email info@smartcurrencyexchange.com if you are a private client and info@smartcurrencybusiness.com if you are a company. We will get back to you straight away.

All that is left to say is to have a wonderful Christmas.

Supplied by Nick Ryder of Smart Currency Exchange, the currency partner to Harpers Wine and Spirit who have teamed up with Smart to provide readers with a free bespoke currency service. Go to www.smartcurrencybusiness.com/winespirit for more information or call on 0207 898 0500.

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