CURRENCY EXCHANGE REPORT

Hi All

Tuesday 25/08/2010. Interbank rates as follows -

POUNDS TO US DOLLARS 1.5431
POUNDS TO EUROS 1.2157
POUNDS TO AUSTRALIAN DOLLARS 1.7391
EUROS TO US DOLLARS 1.2691
EUROS TO POUNDS 0.8224
EUROS TO AUSTRALIAN DOLLARS 1.4303

POUND HEADLINES:

• The Pound spent the day on the back foot yesterday after the new BOE
  member Martin Weale warned that the UK risks falling back into recession.
• GBPEUR - sterling below 1.22 but looking ahead the price is expected to
  turn higher as focus returns to the Eurozone
• Sterling hit a one-month low yesterday against the dollar yesterday,
  dropping below $1.54 following comments from a Bank of England policy maker

EURO HEADLINES:

• A measure of business conditions in Germany is the only piece of data
  due from the Eurozone today and is expected to show a slight dip in
  confidence.
• The single currency extended its six-week low against the dollar
  yesterday, falling further after housing data from the US spurred a risk
  sell-off
• As the Financial markets continue to grapple with the idea that the
  global economic recovery is now running out of steam we expect that the Euro
  has further to fall in the near term.

US DOLLAR HEADLINES:

• New Home sales figures are due from the US this afternoon and another
  disappointing figure is likely to lead the price lower this afternoon
• Data from US housing industry this afternoon is expected to show another
  dip in existing home sales, reinforcing the slowdown in the economic
  recovery
• A key gauge of conditions in the US will come on Friday where data is
  expected to reveal a downward revision to second quarter economic growth,
  further evidence of the problems ahead
  

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