Windsor2

Hi All,

Here’s an update on what’s been happening with the Euro over the last week.

Cheaper food & fuel pulled down EZ CPI in October for a fifth straight month in annual terms, -0.1%y/y

Recovering exports produced an unexpected trade surplus for the Eurozone in September (�3.7bln)

UK:

British annual consumer price inflation accelerated 1.5%y/y in October •

The Bank of England’s MPC split three ways in November, with seven backing a £25bln boost to the economy, one wanting more & another calling for no increase at all.

Britain’s public finances deteriorated at a sharper than expected pace in Oct, retail sales surged 0.4%

GBP/EUR movement – High’s & Low’s of last week (16/11/09 - 20/11/09)

High’s: 1.1322
Low’s: 1.1087

A movement of: 2.12%

Difference on £200k

High: €226,440
Low: €221,740

Difference of: €4,700

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 - HiFX