BUY SELL CURRENCY EUROS DOLLARS POUND

IMS FX MORNING REPORT for Tuesday 23rd November 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5926
POUNDS TO EUROS 1.1727
POUNDS TO AUSTRALIAN DOLLARS 1.6223

EUROS TO US DOLLARS 1.3581
EUROS TO POUNDS 0.8527
EUROS TO AUSTRALIAN DOLLARS 1.3834

POUND HEADLINES:

• The pound did initially fall against the euro yesterday
  following the Irish bailout but has now climbed back above 1.17 as the
  bailout failed to uplift market sentiment
• Tomorrows key data for the UK is the 2nd estimate of
  Gross Domestic Production (GDP) for the 3rd quarter.
• Nationwide have warned that house prices will likely fall
  further. The lender has come out saying potential buyers were being deferred
  by the uncertainty generated by the governments public spending cuts. "In
  the housing market, conditions have weakened noticeably over the last six
  months, with both a decline in buyer demand and a modest downward trend in
  house prices" the Nationwide Building Society said.

EURO HEADLINES:

• In the eurozone, we look for Novembers preliminary
  eurozone PMI surveys (manufacturing & services) to show a moderately slower
  pace of expansion.
• Shares have fallen in Europe and Asia on fears that the
  Irish Republics debt crisis could spread to other European countries with
  high budget deficits. Investors are concerned that other countries with high
  levels of debt, in particular Portugal & Spain, may also have to seek
  financial help.
• The debt crisis will put pressure on the euro & will keep
  the dollar stronger, and that will put pressure on equity markets, said Ben
  Kwong Man Bun at KGI securities in Hong Kong.

US DOLLAR HEADLINES:

• Today's data for the US sees the release of Novembers
  FOMC minutes, the second estimate of Q3 GDP and October existing home sales
  are likely to take centre stage.
• The minutes will shed light on the Feds decision to
  reinstate its quantitative easing programme by purchasing $600bn of
  Treasuries by end -Q2 next year.
• Tomorrow we have a raft of data from the US in the form
  of Durable Goods orders, Personal Income, Personal Spending, Initial Jobless
  claims and New Home Sales.

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