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Weekly Currency Update - GBP/EUR Week ending 11th December

Weekly Currency Update - GBP/EUR Week ending 11th December

Old Dec 7th 2009, 10:45 am
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Default Weekly Currency Update - GBP/EUR Week ending 11th December

Hi All,

As promised here’s a brief update on what’s been happening with the Euro over the last week.

While the US dollar has been caught between its weakening momentum and a strong employment report signalling the potential for higher interest rates in the US sooner than expected, Sterling has uncharacteristically displayed signs of stability.

MPC member Dale commented last week on the risks of inflation to rise above 3% into the New Year, however for spare capacity to help it fall back down to its target level of 2%.

The Purchasing Manager’s Index pointed out that both manufacturing and service sectors continue to grow adding further weight to the argument that the UK economy will finally return to growth in the fourth quarter.


GBP/EUR Movement – High’s & Low’s of last week (30/11/09 – 04/12/09)

High’s: 1.1122
Low’s: 1.0924

A movement of: 1.81%

Difference on £200k

High: EUR 222,440
Low: EUR 218,480

Difference of: EUR 3,960

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

A further update will be added next week.

Regards


Mark Bodega
Director
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