Monday, 30 July 2007

Weekly Euro Rates and Comments - Week Commencing 30th July 2007

Sterling has enjoyed a roller coaster week, hitting yet more 26 year highs against the US$, pushing close to €1.50 and then losing strength towards the end of the week following evidence that the UK housing market was beginning to slow thereby suggesting that the need for further UK interest rate rises in the near term were diminishing.

 

The Euro suffered at the start of the week when it pushed close to €1.50/£1. We are now back at a more "normal" exchange rate of €1.482/£1 inter bank. German business confidence is weakening on the back of the strong Euro against the US$. As the German economy is the key driver for the Euro land economy this is not a positive sign. However, the UK economy must also be suffering from a strong £ against the US$ and so we should not assume that sterling will hit €1.50/£1 any time soon.

 
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Weekly Update on GBP, EUR, USD & Commodity-Backed Currencies



Smart Resources


SMART RESOURCES FOR INDIVIDUALS

Free Reports - Make sure to collect your copy!
For overseas property buyers: "Why Overseas Property Buyers Lose Money... and how YOU can avoid it" Get the report here!

For anyone relocating from the UK to another country: "How you could save £20,000 when relocating from the UK to any overseas location!" Get the report here!

Currency Quotation
Are you interested in a currency rate for euros, US dollars or any other currency? If so, please fill out our Smart quotation form.

Smart Articles (For Clients & Press)
Read recent articles published in a variety of publications or request information on our Smart Press page.

Main Smart Currency Exchange Website (for individuals)
Get information on all the Smart services, educational resources and access to our FAQ's plus much more! Visit main website here.


SMART RESOURCES FOR COMPANIES

Currency Report
Have you read our 10-page Currency Report 'Why UK businesses unknowingly lose £££'s on making and receiving international payments...And what they can do to avoid it!" Get the report here!

Currency Quotation
Are you interested in a currency rate for euros, US dollars or any other currency? If so, please call 0808 163 0102 fill out our Smart quotation form.

Smart Articles (For Clients & Press)
Read recent articles published in a variety of publications or request information on our Smart Media page.

Main Smart Currency Business Website
Get information on all the Smart services, educational resources and access to our FAQ's plus much more! Visit main website here.


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).