BEST CURRENCY RATES POUND TO EURO

IMS FX MORNING REPORT for Tuesday 26th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5842
POUNDS TO EUROS 1.1368
POUNDS TO AUSTRALIAN DOLLARS 1.6027

EUROS TO US DOLLARS 1.3952
EUROS TO POUNDS 0.8796
EUROS TO AUSTRALIAN DOLLARS 1.4098

POUND HEADLINES:

• GDP figures have shown that the UK's economy has grown 0.8% between July and September suggesting the economy is recovering faster than expected. It follows 1.2% growth in the second quarter and is higher than the 0.4% that had been predicted.
• Pound fell to a seven month low yesterday against the euro yesterday following ongoing speculation that the Bank of England may loosen monetary policy.
• Chancellor Osbourne has announced that steady UK recovery is underway and that growth figures should underpin confidence

EURO HEADLINES:

• German GFK confidence for November comes in at 4.9 missing expectations of 5.1
• French consumer confidence indicator for October comes in at -34 beating expectations of -37
• Italian consumer confidence indicator for October comes in at 107.7 beating expectations of 106.5

US DOLLAR HEADLINES:

• The dollar will remain weak due to expectancy that the Fed will pump more money into the economy at their meeting next week but is not clear how much will be injected, which will keep speculation rife and price movements uneven
• The dollar emerged from the weekends G20 meeting as the clear loser among the majors, falling across the board, most notably against the Yen and Aussie dollar
• Today's focus will be on Consumer Confidence figures for October along with house and manufacturing index data released this afternoon

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