Hi there

for these who are interested in watching the FX market:

Here are the info:

Sterling did okay this week. Various members of the Bank of England made comments that the UK was suffering a slowdown rather than anything worse [at this time] and this has led the market to believe that any UK interest rate cuts are unlikely until next year. This has lent some support to sterling which has gained against nearly every currency apart from the all conquering Canadian $ [C$1.954/£1 inter bank]. Although the UK housing market is less robust than it was, house prices "apparently" increased in September. I am slightly sceptical about these figures but it does indicate that we are not in the same dire straights that the US finds itself in.

The € lost a bit of ground and sit at €1.439/£1. Euro land interest rates are unlikely to be reduced any time soon especially as inflation is sitting at 2.6%. However, the Euro land economy is being squeezed and we are unlikely to see any increases in Euro land interest rates. Euro land was slowest to increase interest rates and is likely to be the slowest to reduce them! Still a good time to repatriate your €'s

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hello Mark

couldn't find the currency comments

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Janoulaki,

I Wood Like To Talk To You In Regards To Fx For Your Magazine,

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Weekending 26/11/07

Your fresh currency report / analysis

Sterling had a steady week. The Bank of England minutes were released last week which showed there had been a 7 to 2 vote in favour of keeping UK interest rates on hold. The UK economy is certainly slowing but that is no different from others. Property prices are softening. There will be reductions in UK interest rates next year but we will also see reductions in interest rates elsewhere. Sterling continues to be fairly friendless.


The € was steady against sterling and sits at €1.391/£1 inter bank. Although Euro land has some significant economic positives when compared to the UK and US it won't have it all its own way. The German economy is slowing and the strong € has seen a lot of European industry begin to suffer and worry. Airbus viewed the current strength of the € against the US$ as company life threatening! The housing markets in Spain and Ireland are also in trouble. The European Central Bank is likely to keep interest rates on hold for a while to counter inflation but this is likely to have a significant negative affect on the Euro land economies. Has to be a good time to bring back funds to the UK.

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