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By Stephen Hughes

The minutes released by the Federal Reserve following their most recent interest rate decision proved to be interesting reading overnight as projections provided within the notes seem to indicate that the economic slow-down that side of the pond may not be as bad as first thought, with forecasts revised to -1.5% from a earlier -2%.

I’m fairly confident this news will provide strength for the Greenback against most currencies, so Dollar buyers may want to get in touch with their currency broker as early as possible.

Current GBPUSD and EURUSD levels are down -.27% and -.22% respectivelyfrom the open.

Have a good day readers!
Steve

By Stephen Hughes

Reports this monrning indicate that unemployemt increased by over 250,000 in the three months to May bringing the total soaring towards 2.4 million!!

This may prove to be a kick in the teeth for the Pound which has been performing well over recent weeks reaching in excess of 1.65 against the US Dollar and over 1.18 against the Euro.

I suggest that those of you needing to buy either of those two major currencies in the near future speak to a broker about what options you have to protect yourself against adverse market movement and always keep inthe back of your mind that reaching out for those extra inches may mean that you lose a foot before you realise!!

Hopefully Ill have better news next time I write.

Steve

By Stephen Hughes

Bad news for any Australians looking to follow the Baggy Greens to England for this Summer’s ashes series as Sterling hit a 6 week high against the Aussie Dollar yesterday meaning each and every beer they drink will be that little bit more expensive.

Continued positive data releases in the UK has seen Sterling perform well against most of the major currencies over the last few weeks and there is every sign that this may continue through the Summer months.

Let’s keep our fingers crossed that the performances of Pietersen, Flintoff, Anderson and the other English cricketers carry on in a similar fashion!!!

Happy Wednesday,
Eugene!!

By Stephen Hughes

With UK markets closed on Monday yesterday saw another great day for Sterling climbing yet further against most major currencies, even threatening 1.60 against the Greenback.

Don’t forget most currency brokers are able, using forward contracts, to lock into exchange rates where we are today for anything up to two years ahead, great news if you have overseas property stage payments to worry about or investments that you need to complete on in the future

By Stephen Hughes

Suddenly Sterling seems to be putting up a sustained fight against other major currencies, how long it will last we can’t be sure but for the time being things are looking rosy (or green on your Retuers screens!!!).

Oh and think……..if we didn’t have all the scandal going on in “troughminster” and actually had some political stability………how much better might the Pound be doing