FairFX Press Releases > Dollar exchange rates Related Posts
The pound has fallen significantly against the Euro and Dollar in the past 24 hours alone – falling from $1.6598 to £1 to $1.6479 to £1, and from €1.1366 to £1 to €1.1203 to £1.
Stephen Heath, Chief Executive of FairFX.com, said: “The value of Sterling fell dramatically yesterday morning after Mervyn King said the MPC will lower the deposit rates to free up lending between banks. We have now seen the pound take such a pummelling that you will get just $1.6479 or €1.1203 to £1.
“Anyone looking to buy their currency now should make sure they lock in the best rate for their holiday money or they could lose out on up to $95 or €70 for every £1,000 they spend.*”
FairFX offers customers market-leading exchange rates via either a pre-paid currency card or cash via their internet site: www.fairfx.com[http://www.fairfx.com].
Wednesday 16 September 2009, 10:55am
Commenting on the Pound’s further gains against the Euro, Stephen Heath, Chief Executive of FairFX.com, said: “The Pound has rallied amidst news of the base rate cut, gaining one per cent against both the Euro and the Dollar. The Pound is now trading at €1.1211 and $1.5232 to £1 – and it is expected to claw back further gains in the coming months as Europe and America start to look as vulnerable as rival economies.”
Thursday 08 January 2009, 01:34pm
Commenting on the Pound’s gains against the Euro, Stephen Heath, Chief Executive of FairFX.com, said: “The end of 2008 saw the Pound beaten down to a measly €1.0195 to £1 on 30th December. However, 2009 is looking brighter for the beleaguered currency and we have already seen gains of more than 7.5 per cent since the lows of December.
“In the past few days, investors have been selling Euro-based assets and have taken an interest in Sterling instead. By the end of yesterday, the Pound had clawed back another three cent on the Euro to reach €1.11 to £1.
“Analysts expect the Euro to remain weak in the short-term as the European economy looks as vulnerable as its rivals. And despite predictions of further interest rate easing by the European Central Bank, traders do not expect recent Euro gains to be sustained.
“Sterling has also rallied against the US Dollar and is now trading at $1.52 to £1 due to US confidence being hit by weak economic data and the Federal Reserve having hinted at concerns of deflation.”
Thursday 08 January 2009, 09:20am
Commenting on the future of Sterling after yesterday's base rate cut, Stephen Heath, Chief executive of FairFX.com, said: "Yesterday was key for understanding where the Pound is heading. All the key technical indicators show we might see Sterling strengthen against the Dollar. However, November set a precedent and the markets are expected to rally behind the Pound if it falls to around $1.44 to £1.
"The $1.44 mark is currently a key technical trigger point for traders who will start to support Sterling heavily at that rate for the short to medium term. It is possible there will be further falls next year, but I doubt we will go below $1.30 to £1.
"As yet the Euro has not shown any sign of weakening against the Pound, so fundamentally we have no reason to expect Sterling to begin to strengthen against the Euro for a while to come.
"All in all the Pound isn’t looking strong, but the markets aren’t going to let it go under just yet."
Friday 05 December 2008, 03:32pm
Commenting on the Pound’s crash yesterday, Stephen Heath, Chief executive of travel money specialists FairFX.com, said: "Following a good week when the Pound started to look a little healthier against the Dollar, it came as a shock when by the close of trading yesterday the Pound had suffered its biggest one day fall since 1992.
"This was largely due to weak manufacturing and mortgage data fuelling fears Britain is facing a long and deep recession. Against the Euro, it was a similar story as Sterling lost four cents on the Euro.
"All eyes are now on the MPC as traders speculate another rate cut in the 100 basis point region is almost inevitable as policy makers try to revive the economy by any means necessary."
Tuesday 02 December 2008, 02:02pm
Stephen Heath, Chief Executive at FairFX.com, said: “Overnight investors have dumped the Pound and bought into the safe haven of the US Dollar, adding to the downward spiral which has seen the Pound lose over 20 per cent against the Dollar in the last three months.
“Yesterday, Mervyn King indicated the Pound could fall much faster and further than expected, as he admitted Britain is on the brink of recession and faces an extended and painful economic downturn.
“We are also seeing the Pound weaken against the Euro, with further falls expected.”
Wednesday 22 October 2008, 10:42am
Anyone planning to spend dollars in the coming months is urged to get their cash immediately and lock in the fantastic rate of more than $2 for every £1* - only available from FairFX.com.
Stephen Heath, Chief Executive of FairFX.com, said: “Savvy consumers should take advantage of the amazing rate they can get today and buy their currency online now from FairFX.com – the only provider to offer Brits this rate at the moment.
“Even if they aren’t planning to use it for a while they should buy it now to take advantage of the rate and keep it until they want to start spending.
“When you can get more than $2 for every pound anyone who might want to spend US dollars in the coming months could save themselves a bundle by buying their currency online now while this great rate is available.”
Tuesday 15 July 2008, 01:23pm
Anyone planning to spend dollars in the coming months is urged by FairFX.com to get their cash today and lock in the fantastic rate of more than $2 for every £1.*
Stephen Heath, Chief Executive of FairFX.com, said: “Savvy consumers should take advantage of the amazing rate they can get today and buy their currency online now. Even if they aren’t planning to use it for a while they should buy it now to take advantage of the rate and keep it until they want to start spending.
“When you can get more than $2 for every pound anyone who might want to spend US dollars in the coming months could save themselves a bundle by buying their currency online now while this great rate is available.”
Friday 07 March 2008, 09:58am
Latest 'Dollar exchange rates' Posts
16 September 2009, 10:55am
08 January 2009, 01:34pm
08 January 2009, 09:20am
05 December 2008, 03:32pm
02 December 2008, 02:02pm
22 October 2008, 10:42am
15 July 2008, 01:23pm
07 March 2008, 09:58am
Monthly 'Dollar exchange rates' Archives
2009
September (1 entry)
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2008
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October (1 entry)
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