Euro (€) Currency Thread

waynehayes

Was trading at 1.1234 during the night, down to 1.1188 now.

inspector_monkfish

08:15 28Apr09 EUR/GBP: Buoyed by Risk Aversion, CBI Retail Sales Survey Ahead

[07:15 EUR/GBP: Buoyed by Risk Aversion, CBI Retail Sales Survey Ahead] London,
April 28.

The pound has taken an early Europe hit on the back of increased risk
aversion, with EUR/GBP ascending to an intra-day peak of 0.8962. A WSJ article
headlined "Fed Pushes Citi, BofA to Increase Capital", and an FT article
headlined "UK banks face higher capital ratios" have contributed to that risk
aversion rise. The World Health Organization"s upping of its swine flu virus
alert level from three to four has also been a factor. 0.8902 was today"s early
Asian session base.

There is speculation that dividend payment-related buying of the pound by a
major UK corporate contributed to yesterday"s EUR/GBP steep fall from a European
morning intra-day high of 0.9055 to a five-day low of 0.8881. BP has this
morning revealed that it made a $2.4bn profit in Q1 (BBC website). 0.8831 was
the traded low during the early part of UK Chancellor Alistair Darling"s budget
speech last Wednesday. 0.9082 was Friday"s London lunchtime 15-day high.

Ewald Nowotny says the ECB stands ready "to use unconventional measures of
quantitative easing to assure European firms and consumers access to credit at
appropriate conditions", and that the ECB will also keep interest rates low for
"as long a time as is required" (Bloomberg website). Nowotny spoke in NY
yesterday. The next ECB meeting is in nine days time (May 7).

April"s CBI retail sales balance will be unveiled at 10:00GMT. Forecast:
minus 40.0, from minus 44.0 in March.

inspector_monkfish

1.1170 trading

inspector_monkfish

trading at 1.1200

inspector_monkfish

1.1210 trading

claire6hy

where is usually the best place to exchange money?? (about £700)

inspector_monkfish

claire6hy wrote: »

where is usually the best place to exchange money?? (about £700)

Homebase

inspector_monkfish

1.1240 trading

billykeats

Slowly coming back up. 1.20 by July will be good

inspector_monkfish

fallen back to 1.1180 now