Thursday, July 26, 2007

Smart Daily Currency Note - 25th July 2007

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 26th July 2007
 

Currency

Rate

EURO

1.495

CY£

0.87

US$

2.05

CHF

2.486

CAN$

2.136

AUS$

2.317

Comments:  The pound weakened against the U.S. dollar Wednesday, as investors wondered whether weakness in the U.S. credit and housing sectors could spread to other countries and economies. This rise in risk aversion outside the United States helped push sterling a cent and a half down from its 26-year high of $2.0655 reached on Tuesday.

Existing U.S. homes sales for June fell 3.8 percent to 5.75 million unit annual rate. Analysts had been expecting a bigger fall to 5.87 million, given the recent nervousness in the market, so that too helped the dollar slightly.

In the UK British Chancellor of the Exchequer Alistair Darling said on Wednesday he would support any decisions by the Bank of England to keep prices in check, but his statement had little effect on the market which seems to think another rate hike is unlikely anytime soon because of recent softer-than-expected UK economic data. Only a minority of commentators expect there to be a rate rise in August.

On Thursday the focus will be on Nationwide house prices data out at 0600 GMT for further clues on the state of the UK market and U.S. durable goods data and jobless claims are due at 1230 GMT while new home sales are due at 1400 GMT.

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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© 2005-2007 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).