03/09/2010 Foreign Exchange Report

Hi All

Friday 03/09/2010. Interbank rates as follows -

POUNDS TO US DOLLARS 1.5410
POUNDS TO EUROS 1.1999
POUNDS TO AUSTRALIAN DOLLARS 1.6922
EUROS TO US DOLLARS 1.2842
EUROS TO POUNDS 0.8333
EUROS TO AUSTRALIAN DOLLARS 1.4103

POUND HEADLINES:

• Sterling continued to fall against the Euro yesterday due to the disappointing housing and construction data
• Data from UK services released this morning. Negative data could knock
  the sterling below 1.2000
• UK PMI Services for August comes in at 51.3 missing expectations of 52.9
  and falling from July's 53.1

EURO HEADLINES:

• ECB keeps interest rates on hold at 1.00% as expected. 2Q GDP Eurozone
  economic activity expanded by 1.00% which was in line with expectations
• ECB has raised its forecast for eurozone growth this year and next year.
  President 'John-Claude Trichet' quoted that the upgrade reflected the
  stronger than expected rebound in the zones economy.
• Monthly eurozone retail figures down this month although year on year
  activity is 1.1% beating expectations of 0.6%

US DOLLAR HEADLINES:

• All eyes will be on Non-Farm Payrolls data this afternoon which is
  expected to show a drop in payrolls of 100k
• GBPUSD: Moves below 1.54 as UK PMI data disappoints and slows much more
  than expected
• Forecasts have predicted a 3rd straight drop in monthly payrolls for
  August therefore expect to see volatility in GBPUSD today

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790