In a month’s time I aim to be standing atop Kilimanjaro, the tallest free-standing mountain in the world. Follow the link here to read about Help 4 Heroes (the charity that I will be donating to) and to sponsor me. Thank you in advance for any donations.
Rare comments from the Fed Chairman Ben Bernanke did little to halt the dollar’s decline on Monday as the dollar index fell to fresh 15 month lows over the trading day. Throwing his weight behind the greenback Mr Bernanke indicated that the Fed “will help ensure that the dollar is strong”, and once again reiterating it would keep interest rates low for an extended period.
October retail sales from the US revealed a nice rebound from last month’s decline, rising 1.4% for the month. Retail sales will continue to be an important indicator of how effective the Obama stimulus measures have worked, and unsurprisingly global equity markets reacted positively, finding further legs to build on their recent gains.
Sterling awoke from its slumber in the afternoon session, jumping to two month highs against the euro, and climbing into the 1.68’s against the dollar as risky assets and commodities enjoyed another strong day. Gold breached yet another record high, as investors flocked to the safety of bullion, and out of the stretched dollar.
Inflation figures today from the UK will be of note, with CPI expected to arrive just in the positive territory (0.1%). The US also provides inflation figures with PPI due for release in the afternoon, as well as October’s industrial production figures.
You can also follow us live on Twitter at http://twitter.com/World_First
|
Latest Exchange Rates At Time Of Writing
|
|
Indicative Rates
|
Sell
|
Buy
|
|
GBP/EUR
|
1.1253
|
1.1282
|
|
GBP/USD
|
1.6844
|
1.6869
|
|
EUR/USD
|
1.4947
|
1.4968
|
|
GBP/JPY
|
149.64
|
150.16
|
|
GBP/AUD
|
1.8053
|
1.8099
|
|
GBP/NZD
|
2.2536
|
2.2594
|
|
GBP/CAD
|
1.7639
|
1.7694
|
|
NZD/USD
|
0.7458
|
0.7484
|
|
GBP/ZAR
|
12.42
|
12.46
|
|
USD/ZAR
|
7.36
|
7.38
|
|
GBP/PLN
|
4.5905
|
4.6335
|
|
EUR/JPY
|
132.72
|
133.17
|
|
Rates are dependent on amount transacted. Please call 0207 801 9080 for a live rate quote.
|
|
|
|
|
Please feel free to contact me (jeremy.cook@worldfirst.com) if you have any questions or thoughts regarding these updates or if you are interested in a particular event in the calendar. If you would like to discuss your foreign exchange requirements, please contact our: Corporate Foreign Exchange Team on 020 7801 9050 or our Private Client Currency Exchange Team on 020 7801 9080.q
To view any past or present currency blogs please click on the following link www.worldfirst.com/blog.
|
|
Disclaimer: The above comments are only our views and should not be construed as advice. You should act using your own information and judgement. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Any rates given are “interbank” i.e. for amounts of £5million and thus are not indicative of rates offered by World First for smaller amounts. E&OE. Definitions of jargon/market terms can be found in our Glossary of Foreign Exchange Terms.
Please click here if you would like to stop receiving the World First Morning Update.
|
|
Leave a Reply