DAILY FX REPORT 17-09-2010

Good Morning,

Friday 17/09/2010. Interbank rates as follows -

POUNDS TO US DOLLARS 1.5700
POUNDS TO EUROS 1.1947
POUNDS TO AUSTRALIAN DOLLARS 1.6601

EUROS TO US DOLLARS 1.3141
EUROS TO POUNDS 0.8369
EUROS TO AUSTRALIAN DOLLARS 1.3895

POUND HEADLINES:

• Retail sales unexpectedly fell last month revealing a 0.5% drop from
  July which is the first decline since January.
• Sterling briefly hit a seven week low against the Euro yesterday but
  quickly rebounded and is currently hovering at 1.1940
• Next week Bank of England will be releasing minutes although this may
  remain neutral.

EURO HEADLINES:

• Euro now sitting above $1.31 which is its highest level since early
  August due to strong demand at a Spanish Bond auction which has reinforced
  confidence in Europe
• German producer prices for August come in at 0.0% missing expectations
  of 0.3%
• Eurozone Construction output for July comes in at -3.1% falling sharply
  from Junes 1.8%

US DOLLAR HEADLINES:

• The pound recovered its losses yesterday and is now sitting above $1.57
• Today at 1.30pm Consumer price Index data is released
• Dollar currently strong against against the Swiss franc and yen but weak
  against the euro and pound

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