Sarah Davie

Not too much change in the rates over the past month. Sterling did push above 1.60, we saw the Loonie pushed above parity and the Euro continues to suffer as concerns turn from Greece to Spain. The only real mover was, in fact, the Real; losing almost 10 cents against the US Dollar. Economic sentiment in the UK is downbeat after the lowest UK spending figure since 1977; maybe everyone is holding their cash to try and buy those coveted tickets for the Olympics which start in less than 100 days. The major concern felt in every nation centers around oil prices. Why are prices continually soaring – surely OPEC can increase output? Well, not for the moment and until they do, it looks like the main mover, upwards, will indeed be oil.