Hopes of an agreement being sorted between Greece and its private bondholders dashed yesterday due to the oppositions of some of the Greek political leaders. Towards additional spending cuts demanded by the lenders as well as a disagreement between the IMF and Germany on the involvement of the ECB in the bond swap.

The creditors in Greece doubt the country’s ability to carry out all of the necessary reforms n order to reduce debt and have demanded more austerity measured which the Greek officials have said no to as they fear that implementing them would further aggravate an already serous recession in the country.

The EUR/USD is expected to remain capped by a key resistance line located at 1.3245/50 despite the pair’s recent advancement.

The GBP/USD uptrend is expected to continue from support level 1.5790 which will be followed by reaching resistance level 1.5955.

The APPRECIATION OF THE Swiss franc against the single currency appears to be unstoppable with SNB’s interim President T Jordan saying the bank is ready to buy EUR/CHF in unlimited quantities in an effort to cut down the downside that has been accelerated after the SNB quarterly meeting last December.

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Euro value on 3rd February, 2012

For live foreign global currency exchange rates vs euros, either use our currency converter, or go to our LIVE Currency Exchange Rates Information.

Buy and sell euros at the best rates here. The rates shown are interbank rates at a fixed point and are presented as a presented as a guide to the foreign exchange rates this morning. As foreign exchange services providers, we buy and sell pounds at the best rates here. The rates shown are interbank rates at a fixed point and are presented as a guide.

British Pound Sterling value on 3rd February, 2012

For live foreign global currency exchange rates vs British Pounds, either use our currency converter, or go to our LIVE Currency Exchange Rates Information.

Buy and sell Pounds Sterling at the best rates here. The rates shown are interbank rates at a fixed point and are presented as a guide to the foreign exchange rates this morning. As foreign exchange services providers, we buy and sell pounds at the best rates here. The rates shown are interbank rates at a fixed point and are presented as a guide only.

US Dollar value on  3rd February, 2012

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According to sources this morning the Fiscal Compact has been ratified by 25 of 27countries across the European Union in the first economic summit of the year that was held yesterday in Brussels. This treaty will enforce countries that don’t have a bigger debt ratio than 60% of GDP and to fix their budget balance. Any countries that do not ratify the Treaty will not have access to the bailout fund.

It is thought that the long awaited agreement with regard to the debt swap between Greece and its private creditors may come into fruition shortly. We understand that there are some minor loose ends but the parties have been closing the differences for a debt swap that would see 100 billion taken off of Greece’s debt burden.

House prices in the UK stalled in January and this was mainly caused by the nationwide lack of purchasing power. On a year to year basis prices have fallen by 1.6% last month. The UK economy contracted by 0.2% in Q4, 2011.

The EUR/USD followed the upside during the European session on Monday into the Asian trading sessions climbing upto 1.3199 so far and with the expectation of 1.3200.

Swiss stocks lost ground on Monday after Greece and its private bondholders failed to finalise a debt swap agreement last week.

It is expected by FX analysts that the GBP/USD is attempting to break through a tough resistance situated at 1.5770/80. In case the currency pairs are successful, it will target 1.5810 and 1.5964 next. Supports at 1.5645 and 1.5570 should cover losses if any occur.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

The weekend has passed and as we understand no agreement has been made in the Greek PSI talks. We understand that its private creditors may come in to fruition shortly ad this is according to representatives dealing with the negotiations. It is thought that despite come minor loose ends that parties have been closing in differences for a debt swap that would see 100 billion Euro wiped off Greece’s debt burden.

With this agreement private investors would receive new bonds with face values half of the existing bonds and with a longer maturity and they would pay an average interest rate of slightly less than 4%. It is thought that the final deal will be put together and announced that a new 130 billion Euro loan programme for Greece which is being pieced together by the “Troika” and this is largely hoped that it will assist Greece in it’s loan borrowing through to 2015.

The Australian dollar has accelerated its downside on Monday after Fitch has placed four of the major banks on rating watch negative. The commodity currency was trimming some of the last weeks gains in Asian Sessions as disappointment circling the Greek front has triggered risk aversion.

The EUR/JPY has been in steady decline since the weekly opening and slipped to a low of 100.97 from an earlier session high of 101.43as an increase in global risk aversion stimulated broad demand for JPY safety. The pair saw an early boost from the reports that the Greek government are close to a new debt swap agreement.

New home sales declined in the US by 2.2% in December. The sales declined to 307,000 units on a seasonally adjusted basis while analysts expected the sales to rise by 2% to 320,000 units. On a positive note the gross domestic product in the US rose 2.8% and ended the economy for 2011 on a positive note.

Spain’s unemployment has increased to 22.8 percent in the last period of 2011 from 21.5 percent in the previous quarter and has surpassed the 5 million mark.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

As we write this morning there are hopes of some progress and this has in turn spurred market optimism. There are rumors circulating that the meeting between the head of the institute of International Finance and senior bankers in Paris resulted in a new private sector creditors offer an interest rate of 3.75%.

The EUR.USD is clinging to 1.3100 after the close in the Asian session where it has traded in 1 1.3080-3115 range. Risk related assets were still well demanded on Thursday although the bid pressure did wane towards the end of trading in America as the PSI failed to deliver positive announcements along the day.

In the US the number of people seeking unemployment benefit rose to a seasonally adjusted 377,000 which was up from a four year low the previous week. In the long term all signals are pointing to a healthier job market.

UK retail sales fell in January according to the confederation of British Industry. Sales declined to -22 from 9 in December with above 0 indicating higher sales volumes and below 0 indicate lower.

GBP/USD The Cable is expected to move unto 1.5770/80 after it breaks through 1.5680 resistance. Initial support may be found at 1.5618 while subsequent lines are located at 1.5579 and 1.5544.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

This morning is has been reported that German business confidence has improved for the third month which is a sign that Europe’s largest economy may be avoiding a recession. In the UK the economy contracted by 0.2per cent in the fourth quarter of 2011 but a chief economist was reported as saying that any downturn is likely to be mild and short lived.

Yesterday, the head of the IMF warned about the difficult situation in Greece which is unable to reach a deal with its private bond holders. She said that there is a high risk of contagion in the Euro zone if the crisis in Greece starts to aggravate.

The EUR/USD currency couple has already penetrated resistance at 1.3075 and as we write is moving towards a tough zone located at 1.3140/45. This area in conjunction with 1.3245/50 is unlikely to allow EUR/UISD to advance any further.

The short term outlook for the USD/CHF is negative. The pressure on the key support at 0.9200 is increasing. If it does not withstand, a fall might extend down to 0.8995.

China has overtaken Japan as the world’s to coal importer for the first time in 2011, customs data from the countries has shown. This has been partly driven by robust Chinese demand.

The NZD/USD is printing new highs and as we write the cross is advancing 0.46% at 0.8211 above the resistance at 0.8209.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.