Go Back  British Expats > Partner Forums > HiFX - International Currency Transfers
Reload this Page >

Weekly Currency Update - GBP/EUR Week ending 4th September

Weekly Currency Update - GBP/EUR Week ending 4th September

Old Sep 8th 2009, 10:16 pm
  #1  
BE Enthusiast
Thread Starter
 
Joined: Dec 2004
Posts: 524
Windsor2 will become famous soon enoughWindsor2 will become famous soon enough
Default Weekly Currency Update - GBP/EUR Week ending 4th September

Hi All,

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

The single currency gave up some of its recent gains last week after the ECB (European Central Bank) kept interest rates unchanged at a record low of 1.00%, and warned that now was not the time to withdraw support as economies emerge slowly from recession. President Jean-Claude Trichet confirmed on Thursday that the ECB would offer banks unlimited 12-month funds at a flat rate of 1.00%, offering no sign of easing up on unconventional measures. Against backdrop of encouraging data in recent weeks, the Central Bank also raised their estimates for Eurozone economic output this year and next, while inflation estimates were edged higher. In a rare empty Eurozone data calendar, attention will likely shift to German August inflation and July factory order figures followed by Belgian and Italian second quarter GDP (Gross Domestic Product) data.

Euro Movement – High’s & Low’s of last week (31/08/09 - 04/09/09)

High’s: 1.1489
Low’s: 1.1318

A movement of: 1.51%

Difference on £200k

High: €229,780
Low: €226,360

Difference of: €3,420

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
Windsor2 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.