Thursday, September 08, 2005

Currency log: 9th September 2005

The Euro has weakened slightly to an inter bank rate of 1.477. No real momentum just gently drifting.

The US$ has strengthened moving out of its range 1.84 to 1.85 to 1.8374 inter bank as I write. The big question still evolves around interest rates and the likelihood that rates in the US will continue to be increased. If it transpires that interest rate rises are still on the agenda then expect to see a strengthening of the US$.

Any questions please call me on 0870 285 0364

regards

Charles Purdy

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