Pounds to Dollars

IMS FX MORNING REPORT for Thursday 28th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5790
POUNDS TO EUROS 1.1417
POUNDS TO AUSTRALIAN DOLLARS 1.6164

EUROS TO US DOLLARS 1.3827
EUROS TO POUNDS 0.8758
EUROS TO AUSTRALIAN DOLLARS 1.4214

POUND HEADLINES:

• House prices have dropped in October compared with the
  previous month as the property market saw an autumn fall, according to the
  Nationwide. The building society said that prices were down 0.7% compared
  with September.
• Later today UK consumer spending data is due. A slight
  drop is expected which could put the pound under further pressure
• Sterling closed the day above 1.14 against the euro
  yesterday finding support from Bank of England deputy governor Charles Bean
  who said growth in the previous two quarters had been surprisingly strong,
  suggesting that he is unlikely to join the vote to extend QE

EURO HEADLINES:

• Greece's finance minister yesterday said the country's
  economy will shrink by up to 3% in 2011, worse than previously estimated. On
  top of that Portugal's parties fail to agree austerity budget. A failure to
  pass the budget could plunge the country back into the debt crisis it had
  seemingly escaped since summer.
• French Producer prices for September M/M come in at 0.3%
  beating expectations of 0.2%
• Eurozone economic confidence for October comes in at
  104.1 beating expectations of 103.5

US DOLLAR HEADLINES:

• US New home sales rose 6.6% in September to 307k annual
  pace, better than 4.2% expected rise to 300k pace.
• The FOMC on November 3rd remains in the spotlight and
  debate is ongoing how the Fed will react to further easing
• US Durable goods in September rose 3.3% vs. 2.0%
  following a revised -1.0 the month prior.

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