Currency Line» Tom Higham

Recession Looms

Tom Higham — Fri, 03 Feb 2012 17:21:54 +0000

EU Treaty Agreed

Tom Higham — Tue, 31 Jan 2012 09:25:13 +0000

In a move to boost the Euro, all the EU countries except Britain and the Czech Republic agreed yesterday to sign a new treaty, known as the fiscal compact, aimed at tightening spending rules in the eurozone and help put an end to the debt crisis. EU leaders also vow to stimulate employment and growth across the region.

The 17 countries in the eurozone hope that the new rules will reinstate assurance and confidence in their joint currency and encourage investors that all of them will get their debts under control and managed.
Swedish Prime Minister, Fredrik Reinfeldt said “We have a majority of 25 that will now sign up to the fiscal compact.”

The currency union wants to get broad support from the other EU states, although the new rules only apply to the 17 euro states, in hope that the agreement will ultimately be integrated into the main EU treaty.

Britain said in December that it would not sign the new treaty. Prime Minister, David Cameron said of the other countries, “I don’t want to stand in the way of what they think they should do, but this is not an EU treaty because I vetoed that.”

Reinfeldt stated that the Czech Republic didn’t sign because of parliamentary procedural problems.

With the agreement of the new fiscal compact for the single European currency, it is becoming more positive that saving the euro will be a success, as well as growth to create jobs across the 27 EU countries.

Greek Talks Continue

Tom Higham — Mon, 30 Jan 2012 12:05:16 +0000

Talks regarding Greek debt levels are expected to resume this week as no resolution is yet to be reached. The uncertainty surrounding Greece’s debt repayment and therefore the unity of the Eurozone continues to hangover the head of euro exchange rates. In fact over the weekend credit ratings agency Fitch have downgraded several European economies including Spain and Italy which is further bad news for the debt laden single currency economy. While this story rumbles on it is likely we will see more exchange rate movement and so the recent 16 month high on Sterling Euro could be soon a distant memory!

Meanwhile in the US there was some good news as they announced that the economy had grown more than expected good news for both the US and the global economy. Should the US economy continue to move from strength to strength we could see not only Dollar strength but also some other currencies such as the Australian and New Zealand dollars strengthen as investors confidence in the global economy grow.

Sterling Exchange Rates Fall

Tom Higham — Mon, 17 May 2010 13:44:54 +0000

The Pound has started the week poorly loosing half a cent against the US Dollar, nearly a cent against the Canadian Dollar and Swiss Franc and three quarters of a cent against Euro. All this with the apprent political stability!

The outlook for Sterling remains bleak with a raft of poor economic data being released and other economies most noticeably in Australia and America showing signs of improvement the pressure is likely to remain heavily on Sterling. So, if you need to send money overseas then complete the comtact us form and an experienced currency broker will get in touch to discuss the options open to you in helping you get the best rate of exchange.

Sterling Holding Steady as Election Looms

Tom Higham — Tue, 04 May 2010 11:37:25 +0000

The pound has begun the week slightly up but with so much anticipation surrounding the election it is expected that this week will be very volatile. Analysts are still debating over the effects on the exchange rates of either a hung parliment or a Tory government but the outcome of the election is still very unclear. So, if you need to send money overseas and would like to take the uncertainty out of the market please complete the contact us form and an experienced currency broker will be in touch to discuss all the options open to you.