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US Dollar exchange rates dropped

Good morning,

The US Dollar exchange rates dropped to a three week low against multiple currencies as investors pushed back bets for when the Fed Reserve will increase interest rates.

Yesterdays minutes highlighted growing concerns among policy makers who say further gains in the dollar could hurt exports and damp inflation, which has undershot the Fed’s goal for more than two years.

Australia’s currency rose for a fourth day as traders treated data showing employers unexpectedly cut payrolls last month with caution following changes to labor-market figures by the statistics bureau yesterday.

In the UK attention will shift to this afternoons Bank of England policy meeting. Over the past few months the MPC have been split on the near term need for tighter monetary policy. Markets do not expect any change to the headline interest rate currently at 0.5% percent.

Elsewhere, in a relatively light data calendar, speeches from various fed officials may attract some interest some interest. ECB president Mario Draghi will be speaking on Europe earlier this afternoon.
MORNING MARKET RATES:

GBPEUR 1.2710
GBPUSD 1.6216
EURUSD 1.2757
GBPSEK 11.585
GBPAED 5.9569
GBPAUD 1.8258
EURGBP 0.7846
GBPJPY 174.50
GBPTHB 52.536

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





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