Buy and Sell Euros and Pounds Best Exchange Rates

IMS FX MORNING REPORT for Tuesday 21st December 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5477
POUNDS TO EUROS 1.1762
POUNDS TO AUSTRALIAN DOLLARS 1.5536

EUROS TO US DOLLARS 1.3158
EUROS TO POUNDS 0.8501
EUROS TO AUSTRALIAN DOLLARS 1.3208

POUND HEADLINES:

• A very quiet day yesterday although the pound did manage
  to edge higher against the euro amid concern European nations will struggle
  to raise funds and as the Confederation of British Industry said the Bank of
  England will start raising interest rates within six months.
• The amount of new public sector borrowing hit a fresh
  record high in November, according to the Office for National statistics
  (ONS). The latest figures are likely to raise concerns about the governments
  efforts to reduce the UK's budget deficit.
• UK home sales fell in November as the property market
  showed little sign of fresh life at the end of the year. The most recent
  surveys from the Nationwide and the Halifax showed that prices fell in
  November compared with October.

EURO HEADLINES:

• Spain is slowly emerging from recession but needs to cut
  spending further and introduce labour market reforms.
• There has been much speculation recently that Spain might
  need to ask for financial assistance from fellow European Union (EU)
  Members. This follows the joint EU and International Monetary Fund (IMF)
  bail out of the Irish Republic agreed last month, and a similar package
  agreed with Greece earlier this year.
• German consumer confidence has slipped slightly as
  expectations grow that the country's strong recovery will moderate next
  year. This follows from a separate survey carried out last week which
  suggested German business confidence was at a fresh, 20 year high. Germany
  is driving the eurozone's fragile economic recovery.

US DOLLAR HEADLINES:

• Price movements yesterday were minimal, with many
  investors on the sidelines until the new year. It is expected to remain
  quiet until year end.
• Japan has kept its key interest rate at between zero and
  0.1% as policymakers continue to try to bolster the country's fragile
  economic recovery.
• Japan has been suffering from a strong yen, weak exports
  and almost two years of falling prices.

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