Here is my new regular blog site on the vagaries of foreign exchange - it's a confusing picture with all of those city traders trying to scrape their huge bonuses, however we do have a panel of experts to help us with all of the Foreign currency markets.
We also announced yesterday we have new Foreign Currency Exchange Mortgages via our Mortgage Department in Spain. For more details go to http://spanishpropertybargains.blogspot.com/
With thanks to Bruce Borrie from Baydonhill Foreign Exchange
Sterling dipped yesterday against the US Dollar and Yen as worries over the health of the global economy prompted investors to dump riskier assets. Both the FTSE100 and Dow Jones headed south as they shifted their proceeds into the US dollar.
Official data released yesterday confirmed the UK economy shrank by 0.5% in the 3rd QTR, and household spending fell by the largest amount in a decade. The Nationwide reported this morning that UK house prices fell by 0.4% on the month and that the rate in which they were falling had decelerated slightly. All eyes will now look towards the meetings of the European Central Bank and Bank of England next week as the outlook for interest rates will once again hold centre stage. I would imagine that the Bank of England will cut again in response to the continued downturn in the economy.
Current Interbank Prices as follows:
GBPEUR: 1.1924
GBPUSD: 1.5387
GBPDKK: 8.8750
GBPSEK: 12.2924
GBPCHF: 1.8465
GBPZAR: 15.1944
GBPJPY: 146.39
USDEUR: 0.7750
GBPAUD: 2.3630
GBPNZD: 2.8077
GBPCAD: 1.8894
Please let us know if you require any further explanations on any or all of the above.
The New Girasol Homes Overseas Mortgage site should be up next week.
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