Best Euro Exchange Rates - Best Euro Rate Information

Pound continues to weaken against a weak euro

So the Pound continues to weaken against a weak euro. Work that one out! Overnight the pound was well into the 1.27s before falling under 1.27 early this morning.

The US economy looks better able to withstand the hit from a stronger dollar and weaker global growth than the stock market did last week.

The U.S has ridden out a variety of shocks over the last few years, from the euro debt crisis in 2011 and 2012 to the taper tantrum in the middle of 2013 that saw long-term interest rates shoot higher. Indicators released last week suggested the U.S. economy is powering ahead. The number of Americans filing applications for unemployment benefits fell in the week ended Oct. 4, pushing the average over the past month to the lowest level in eight years, the Labor Department said. Job openings also climbed to a 13-year high in August as employers gained confidence in the world’s biggest economy.

As Europe’s woes again proved the chief concern at weekend meetings of the International Monetary Fund in Washington, President Draghi repeated he’s ready to expand the ECB’s balance sheet by as much as 1 trillion euros ($1.3 trillion) to beat back the threat of deflation. The differences at the heart of policy making risk leaving the ECB hamstrung as the region’s economy stalls and inflation fades further from the central bank’s target of just below 2 percent.

The rest of the week is a busy one for data releases. In the euro area annual inflation for September is likely to be confirmed at 0.3%. The very weak German outturn means that euro area industrial production probably fell sharply in August, while the German ZEW survey will be the first economic reading for this month. In the UK, the September CPI is expected to show inflation well below target, although the labour market data may hint at capacity pressures to come. There are also a number of economic activity indicators in the US, including retail sales, industrial production and housing starts.
MORNING MARKET RATES:

GBPEUR 1.2685
GBPUSD 1.6077
EURUSD 1.2672
GBPSEK 11.564
GBPAED 5.9066
GBPAUD 1.8416
EURGBP 0.7881
GBPJPY 172.90
GBPTHB 52.175

Please contact me to discuss SPOT pricing, FORWARD pricing or alternatively placing MARKET ORDERS at pre-desired rates.

P.S. WHY NOT TAKE ADVANTAGE OF THE STRONG GBP AND LOOK AT SECURING EUROS ON A FORWARD CONTRACT FOR UP TO 2 YEARS IN ADVANCE. WE ONLY REQUIRE A 3% GBP DEPOSIT TO SECURE A RATE GIVING YOU PEACE OF MIND AGAINST RATE FLUCTUATIONS.

Kris Charalambides
Senior Account Manager
kris@imsfx.co.uk
www.imsfx.co.uk
Direct Dealing Line : 0207 183 7928
Dealing Desk : 0207 183 2790