Tuesday 31/08/2010. Interbank rates as follows -
POUNDS TO US DOLLARS 1.5415
POUNDS TO EUROS 1.2158
POUNDS TO AUSTRALIAN DOLLARS 1.7335
EUROS TO US DOLLARS 1.2677
EUROS TO POUNDS 0.8224
EUROS TO AUSTRALIAN DOLLARS 1.4256
POUND HEADLINES:
- The bank holiday weekend has not resulted in any dramatic movements
between Sterling and the Euro with the pair continuing to hover around the
1.2160 - 1.2200 mark - There's growing confidence that the UK will recover at a faster pace
than other European economies that are struggling to contain their budget
deficits - It is quite a busy week for the economic calendar and we expect to see
sterling on top as concerns about the weaker countries in the Eurozone
linger
- The single currency lost ground to the Dollar yesterday, reversing gains
enjoyed at the end of last week with the price now back below $1.27 - Eurozone interest rate decision this Thursday followed by ECB Press
conference which provides an in-depth insight into the economic conditions
and future outlook of the Eurozone - Eurozone unemployment rate (July) comes in as forecast at 10.0%
- The Pound has turned lower against the USD yesterday and is maintaining
its downward course this morning with the price nearing a 6 week low.
Outlook for the week remains bearish ahead of the US non-farm payroll
figures on Friday - Minutes of Fed's latest policy meeting will be in focus later this
evening with the report likely to highlight the slowing economic recovery,
the riskier pound is likely to struggle in the near term - Federal Reserve Chairman Ben S. Bernanke said over the weekend that
growth has been "too slow" and unemployment "too high", triggering further
speculation that the Fed will extend easing measures at their policy meeting
later this month
call me for a free quote.
Kris Charalambides
FX Broker
Tel: 0207 183 2790
No comments:
Post a Comment