Tuesday, August 11, 2009

Smart Daily Currency Note - 11th August 2009

 

Smart Currency Exchange - Daily Currency Rates

 

  
Daily Inter Bank Currency Exchange Rates 11th August 2009

Currency

Rate

EURO

1.163

US$

1.648

CHF

1.785

CAN$

1.795

AUS$

1.969

Comments: Sterling continued its downward trend. Wednesday is likely to be a key day as we get to see the data that caused the Bank of England to extend its quantitative easing programme. This certainly knocked the stuffing out of sterling as it raised major worries about how we are handling the recession. Similarly the US$ seems to be strengthening on the back of good news [rather than bad] as the markets are now looking at the US to be the first to start increasing interest rates as they are likely to be the first out of this recession. Again Wednesday is an important day for the US$ as we have the Federal Reserve monthly meeting and we also have the sale of US$75bn of government debt and the market will be looking at both events closely. Firstly to see where the Fed thinks the US economy is in the cycle and secondly to see what appetite exists for US debt.

Note:  All rates are mid market inter bank and indicative at the point of publication. 

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



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© 2005-2009 Copyright  Smart Currency Exchange Ltd

THIS PUBLICATION DOES NOT CONSTITUTE ADVICE WITHIN THE TERMS OF THE FINANCIAL SERVICES ACT (OR ANY SUBSEQUENT REVISIONS, ADDITIONS, OR AMENDMENTS).

Disclaimer

Exchange rates can move very quickly. The above rates are valid at a moment in time.
Suggestions should not be taken as advice or fact. The market does what it wants to do.  We have no crystal ball and as ever we recommend that if an exchange rate works for your budget then don't try and wait for an even better exchange rate, as Murphy's Law says the rate will go against you and cause you maximum pain!



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Disclaimer
Exchange rates can move very quickly. The above rates are valid at a moment in time. We have no crystal ball and we recommend that if an exchange rate works for your budget then don’t wait for an even better exchange rate - Murphy’s Law says the rate will go against you and cause you maximum pain! Suggestions should not be taken as advice or fact.

© 2005-2010 Copyright Smart Currency Exchange Ltd THIS PUBLICATION DOES NOT CONSTITUTE ADVICE WITHIN THE TERMS OF THE FINANCIAL SERVICES ACT (OR ANY SUBSEQUENT REVISIONS, ADDITIONS, OR AMENDMENTS).