Currency Note Worldwide

Sterling strong as it hits levels last seen in 2010

By Smart Currency November 25th, 2013

Elsewhere on Friday, we saw a number of currencies lose ground. Touching the lowest level against sterling since 2010, the Canadian dollar’s already weak position was exacerbated by the announcement that inflation levels had dropped below the central bank’s target rate. This news means that the door open to a decision from the policy makers to cut interest rates, which would lead to further drops in the currency’s value. Similarly we saw the Australian dollar devalue significantly following a speech from the governor of the central bank on Thursday night, in which he eluded towards the possibility of a rate cut. As a result the currency was also trading at 2010-lows. The Japanese yen also lost further ground on Friday, trading at 2009 lows against sterling. Looking forward to this week, we have trade balance and business confidence figures out of New Zealand. We also have private capital expenditure data out of Australia and GDP figures from Canada. Get in touch with your trader for a live rate.