Today's Interbank rates -
POUNDS TO US DOLLARS 1.5527
POUNDS TO EUROS 1.1933
POUNDS TO AUSTRALIAN DOLLARS 1.6184
EUROS TO US DOLLARS 1.3011
EUROS TO POUNDS 0.8379
EUROS TO AUSTRALIAN DOLLARS 1.3561
POUND HEADLINES:
- The number of new mortgages being approved for house
buyers has fallen for the sixth month in a row, Bank of England figures have
shown. The data suggests that house sales will be stuck in a rutt in the
coming months. - Chancellor George Osbourne said yesterday that "UK
economy recovery is on track" despite "challenging " global conditions. The
office for Budget Responsibilities (OBR) formed in May to make an
independent assessment of the public finances ahead of each budget has
revised its growth estimates for 2011 & 2012 have been lowered. - Tomorrow for the UK we have Nationwide house prices and
PMI manufacturing data.
- The euro has continued to fall against the dollar as
markets opened after European ministers agreed a bail-out for the Irish
Republic. - Irish, Spanish & Portuguese bond yields have remained
stubbornly high, indicating the market is not convinced European debt
problems have gone away. - Following the release of the UK GFK consumer confidence
overnight, the focus in the morning session is the release of German
unemployment and the eurozone flash CPI estimate, both for November.
- Outside Europe, the US conference board consumer
confidence and Chicago purchasing manager surveys are the main releases. The
Chicago business survey will be closely watched, following rather
conflicting Empire and Philly Fed surveys. - Towards the end of the week we have initial jobless
claims, pending home sales and non-farm payrolls.
If you need to buy, sell or make an international payment today then please
call me for a free quote.
Kris Charalambides
Tel: 0207 183 2790
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