Friday 16th May 2008 Interbank GB POUNDS / EURO 1.2584 EURO / GB POUND 0.7946
The pound is up slightly against the euro.
Pounds:
The pound is up slightly against the euro this morning, and held steady
against the dollar. The pound is still
reeling from the Bank of England Governor Mervyn King’s admission that
he was forced to admit earlier this week that further rate cuts aren’t
on the immediate agenda in the UK. This is despite the continued flow of
data showing UK house prices are tumbling at rates not seen for at least
20 years and that consumer activity is tailing off.
No data today.
Euros:
The strongest reading for 12 years of German gross
domestic product growth, up 1.5% quarter –on-quarter,
seems likely to strengthen the European Central Bank’s argument for
keeping rates on hold at 4%. “The ECB
is in no position to cut interest rates unless growth slows more
sharply,” according to Kenneth Broux, economist
at Lloyds TSB Corporate Markets.
Analysts are also expecting a slowdown
in growth later this year. Leading
indicators are pointing to more moderate growth and business surveys are
coming down.
Data at 9.00am: Italian Trade Balance Total euros expec –860.0M from
–408.0M.
General Euro Currency News:
• Oil rose 64 cents to $124.76, still well off its record high of
$126.98 a barrel earlier this week.
• Stronger than expected Japanese growth data gave the yen a small boost
against the dollar in Asian
trade Friday. But traders said the yen’s appreciation may have no
staying power given Japan’s low
interest rates and murky economic outlook. Yet growing fears of
inflation around the globe have given
rise to a shift in market perceptions about the Bank of Japan’s monetary
policy direction, with an interest
rate hike increasingly seen as the likely next step.
• New Zealand retail sales are plummeting, indicating an unexpectedly
sharp dive in the economy,
weakening the New Zealand dollar.
EURO / GB POUND 0.7946
GB POUNDS / EURO 1.2584
BRITISH POUND / US DOLLAR 1.9486
EURO / US DOLLAR 1.5479
GB POUND / JAPANESE YEN 203.09
GBP/AUD 2.0595
GBP/NZD 2.5437
GBP/ZAR 14.7239
GBP/CHF 2.0499
GBP/CAD 1.9491
GBP/SGD 2.6725
GBP/THB 63.05
GBP/HKD 15.1925
The above rates are for indication purposes only and
are not applicable for
holiday money.
The Football Village Spain Luxury Apartments and Penthouses from 215,000 Euros
Having Visited and viewed the stunning new development in Estepona Costa
Del Sol Spain, we at Currency Today can highly recommend this
development. The only development endorsed by leading Premiership Clubs
& Players , click the following link: Football Village Spain
Currency Today Testimonials
"I found the
Euro pounds
service very
friendly and easy to use. Using a currency specialist saved me a lot of
time, hassle and money."
Victoria Burroughs
"You have restored my faith in foreign money currency translating, thanks very
much. I have checked and the funds are in my Spanish account."
Peter King
"For our opinion of your
money transfer service, I’m only too happy to say that we have been very satisfied.
Both you and Oliver were very friendly and helpful which made the
conversion
process less daunting, and the money transferred efficiently at good
rates of exchange. As a result, we have just returned from a weekend in
France where we signed the papers for our new house. The money you saved
us will enable us to furnish it now.
Thank-you for for your help with our currency transfer – we will definitely be using your
service again in the future."
"Making sure money reaches my suppliers in the Far East is just
as important to our company as getting a good rate. I found your online
system provides good rates and allows me to send payment details easily.
I am glad I no longer have to call the bank. "
Graham Easter Read More testimonials
Spanish Mortgages Spain with Olg
For Spanish mortgages contact Olg mortgage specialists.
Iinformation on a mortgage in Spain click the following link:
Best rate Spanish Mortgages Spain100 % Mortgage rates from just 3.9%
