Today's Interbank rates -
POUNDS TO US DOLLARS 1.5683
POUNDS TO EUROS 1.1800
POUNDS TO AUSTRALIAN DOLLARS 1.5891
EUROS TO US DOLLARS 1.3290
EUROS TO POUNDS 0.8474
EUROS TO AUSTRALIAN DOLLARS 1.3471
POUND HEADLINES:
- The recent run of reasonably upbeat data continued last
week with the latest industry PMI's pointing to ongoing economic recovery.
If the manufacturing PMI is to be believed, business activity in this sector
is currently running at its strongest pace since 1994. Services and
Construction activity are also holding up well. - While the MPC meeting dominates this weeks calendar,
there are a number of key economic releases due. The highlights include the
latest industrial production, external trade & produce price data. - GBP underperformed on Friday but looks very well
supported against the USD at this point as long as UK numbers continue to
impress.
EURO HEADLINES:
- The ECB has ensured a recovery in European peripheral
bonds, and we will see how much buying this required in today's data. - Tomorrow's Irish budget is also in focus as Fine Gael is
now uncertain to abstain. More talk of Euro bonds may receive further
comment around the EU finance ministers this afternoon. - Any EU recovery looks fragile strength until there is
much greater confidence in the stability of Eurozone periphery credit.
US DOLLAR HEADLINES:
- Dollar weakness was the theme on Friday as the much
anticipated US non-farm payrolls disappointed expectations, ramping up fears
about the economic recovery. - In the US today, Richmond Fed President Jeffrey Lacker
speaks on the subject of the economic outlook in a speech to be delivered in
North Carolina. - The US unemployment rate rose to 9.8% in November, the
highest rate since April raising fears about the country's economic
recovery.
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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