overseas money transfers euros pounds dollars best currency rates

IMS FX MORNING REPORT for Wednesday 22nd December 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5443
POUNDS TO EUROS 1.1764
POUNDS TO AUSTRALIAN DOLLARS 1.5475

EUROS TO US DOLLARS 1.3128
EUROS TO POUNDS 0.8517
EUROS TO AUSTRALIAN DOLLARS 1.3152

POUND HEADLINES:

• The pound took a nosedive yesterday during the morning
  session although did recover in later trade to close back up at 1.18. The
  drop came after some disappointing public sector net borrowing figures,
  however, the euro soon began to falter with rumours circulating about
  potential downgrades in Europe.
• The UK economy grew less than previously estimated
  between July and September, revised figures have shown. The Office for
  national Statistics said UK GDP expanded by 0.7% in the third quarter, down
  from its earlier estimate of 0.8%. It blamed the revisions on weaker growth
  in the construction, business services and manufacturing sectors.
• The Bank of England voted 1-7-1 to keep interest rates on
  hold at a record low of 0.5% and asset purchase plan at 200bn pounds. Posen
  kept his demand to increase the plan by a further 50bn pounds whilst
  Sentance voted to raise interest rates to 0.75%.

EURO HEADLINES:

• Following on from Frances scare on Monday, Moody's Credit
  Rating Agency said that they may downgrade Portugal if the country is unable
  to bring its books to order. This follows downgrades to both Ireland and
  Greece.
• German Import Price Index for November month-on-month
  comes in at 1.2% beating expectations of 0.5%. The year-on-year figure is
  10.0% higher than the expected 9.3%.
• Italian Consumer Confidence for December comes in at
  109.1 beating expectations of 108.3.

US DOLLAR HEADLINES:

• The Pound held its steady downward trend against the
  dollar yesterday following on from the weaker than expected high public
  borrowing figure currently trading below $1.55.
• Later today in the US we have third quarter GDP figures
  along with Existing Home sales. Tomorrow we have Durable Goods Orders and
  Personal Spending figures to cap off the week.
  

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