Currency Exchange Report

Hi All

Tuesday 24/08/2010. Interbank rates as follows -

POUNDS TO US DOLLARS 1.5411
POUNDS TO EUROS 1.2211
POUNDS TO AUSTRALIAN DOLLARS 1.7430
EUROS TO US DOLLARS 1.2620
EUROS TO POUNDS 0.8188
EUROS TO AUSTRALIAN DOLLARS 1.4273

POUND HEADLINES:

• British pound starts to crack under Persistent Fundamental Pressure
• Sterling hit a near 8-week high against the Euro yesterday as concerns
  about a fragile Eurozone economy hit the single currency
• However, sterling relinquished its gains this morning and dropped back
  to 1.22 following comments from a Bank of England policy member

EURO HEADLINES:

• Euro slips below key support as PMI Data undermines expectations of
  Economic Strength
• Focus now appears to have decisively shifted back to the Eurozone and
  away from the US economy as Euro slips nearly 5% in the last fortnight
• Data from UBS AG showed a drop in net investment flows into the Eurozone
  for a third consecutive week, adding to the Euro woes

US DOLLAR HEADLINES:

• The US dollar has begun the new week on stable footing as the
  trade-weighted index put in for its forth consecutive daily advance
• Data from US housing industry this afternoon is expected to show another
  dip in existing home sales, reinforcing the slowdown in the economic
  recovery
• The problems facing the US recovery remained in focus following on from
  the disappointing labour market figures seen at the end of lat week

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

http://www.imsfx.co.uk/