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Posted September 30th, 2005 by Charles Purdy

Weekly Currency Note 30th September 2005

Weekly currency note: 30th September 2005

Overview

Both the Euro and the US$ have continued to strengthen
against sterling. In the UK the high street continued
to perform badly whereas in the US and Euro land
inflation is still the major concern.

Why is currency management so important?

If you had bought US$100,000 two weeks ago at 1.85ish
it would have cost you £54,054. If you bought it today
it would cost you nearly £3,000 more.

What else could you have done with that £3,000? It pays
for a lot of flights to the US.

And it isn’t difficult to secure the preferential exchange
rate. If you know what you require and have a reasonable
feel of the timescales in which you will need those funds,
we would be able to use a forward contract to secure the
exchange rate.

This removes all the risk, the stress and the strain. You
know exactly what amount you need in sterling. The figure
will not change. No more sleepless nights.

I cannot stress highly enough the need to be in a position
to secure a preferential exchange rate quickly since events
that can move exchange rates both quickly and dramatically
happen more often than people realise.

Open an account today by calling me on 0870 285 0364 or fill
out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Euro vs. the £

The Euro started the week at 1.477ish and is currently
1.467ish.

The Euro has strengthened steadily all week. Poor UK retail
figures from the high street and poor forecast growth figures
highlighted the uncertain state of the UK economy. This
raised in the mind of the market the possibility of reduced
interest rates here in the UK.

Inflation is increasing in Euro land which raises the very real
spectre of higher interest rates from the current 2% bank rate.

I must admit that I still think inflation is a major problem
here in the UK and we probably stand an equal chance of the
BOE raising interest rates as we do of them reducing interest
rates

There has been no clear trend in the Euro/sterling exchange
rate for the last few months – just a broad trading range of
1.44 to 1.50. We are currently right in the middle of this
trading range with the Euro have the slight upper hand. If
time allows you, you should try and secure an exchange rate
if buying Euros in the top half and if selling Euros in the
bottom half.

Just so you know, currencies such as the Cypriot £ and the
Hungarian Forint, which are planning to move to the Euro in
due course, are closely aligned to the Euro. Therefore they
tend to track the Euro. Sometimes they do have a life of
their own but they do tend to come back into line sooner
rather than later.

If you need to BUY or SELL EUROS now is a good time to discuss
your options, so call me on 0870 285 0364 or fill out our
online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The US$ vs. the £

Three weeks ago, post Hurricane Katrina, the US$ was 1.84 plus.
Last week it was 1.78. It is now 1.766.

Inflation is the key problem in the minds of the powers that be
in the US. Interest rate rises are expected to continue thereby
supporting the US$.

The US$ is still not a one way bet as they have the twin deficits
of budget and balance of payments to contend with. However, for
the time being the US is able to manage these [very significant]
problems. We wait to see who will win.

As always I think the key is to work to a realistic budget price
and when this budget rate presents itself secure it either
through an immediate purchase of the currency or through a
forward contract [please call to discuss this option if you
are unclear as to what this means].

The Dirham and the US$ are closely tied. Therefore as the US$
moves so does the Dirham.

If you need to BUY or SELL USD, call me on 0870 285 0364 to
discuss your options or fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Aus $ vs. the £

The Aus$ is strengthening again. It has pulled back to 2.31
having hit the 2.40 level three weeks ago. Being a higher yield
currency it has some benefits over sterling.

The Aus$ hit a high of 2.27ish late July. The Aus$ is pulling
back strongly and we wait to see if is able to strengthen even
further and beat the July high.

If you need to BUY or SELL Australian Dollars, call me on
0870 285 0364 to discuss your options or or fill out our
online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Can$ vs. the £

Further strength from the Can$. The Can$ moved from 2.08 at the
start of the week to 2.05 at the end. The Can$ is very strong at
the moment. Justifiably so as the economy seems to be booming
and its commodities are in much demand

Over the last few months the Can$ has strengthened by 10% plus.
At the end of April it was 2.35ish. The level around 2.10 is
very significant and for the Can$ to strengthen further will
take some effort. However, if it does so then we could see a
very rapid appreciation.

History would still favour a return in the Can$ to 2.20 plus but
timescales are difficult if not impossible to estimate!

If you need to BUY or SELL Canadian Dollars, call me on
0870 285 0364 to discuss your options or fill out our online
quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

If you would like to discuss a currency not mentioned in this
note, the latest movements, secure an exchange rate or discuss
your particular situation, please feel free to contact me
on 0870 285 0364

Lastly, we’re always working to improve the service provided by
Smart Currency Exchange, so if I can produce information in a
better format or make it easier to understand, of if you want
me to clarify what a particular term means, please send me your
questions, suggestions and/or
comments to mailto:Charles@SmartCurrencyExchange.com

Think Smart,

Charles Purdy
Director

Phone: 0870 285 0364
Fax: 0870 285 0365
http://www.SmartCurrencyExchange.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The UK’s 1st (and Only) Currency Exchange Service Dedicated
Exclusively to Overseas Property Buyers

To get your complimentary report go to:
www.SmartCurrencyExchange.com/freereport.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer

As ever these are my musing as to how I see the various
markets going. They should not be taken as fact. The market
does what it wants to do. I have no crystal ball and as ever
I recommend that if an exchange rate works for your budget
then don’t try and wait for an even better exchange rate,
as Murphy’s Law says the rate will go against you and cause
you maximum pain!

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Posted September 23rd, 2005 by Charles Purdy

Weekly Currency Note: 23rd September 2005

Weekly currency note: 23rd September 2005

Overview

The Euro vs. sterling movement following the election and
resultant hung parliament in Germany showed that it is
sometimes better to travel than arrive. Subsequent events
have resulted in the Euro strengthening. The US$ has
rebounded strongly following the interest rate rise at the
start of the week.

Why is currency management so important?

Significant losses can be made if your currency exposure
is not handled correctly. Say you bought a property for
Euros 300,000. If the exchange rate was 1.50, the sterling
cost would be £200,000. If the Euro strengthened to 1.44
the cost would be £208,333, a loss of £8,333. This
avoidable loss pays for a lot of flights, furniture, meal
outs, etc.

This exposure can be managed both for the short, medium and
long term.

If you had secured the Euros 300,000 at 1.50 and the Euro
had strengthened to 1.44, even if there had been no increase
in the price of the property, then you would have made a
profit [albeit a paper one until you sold] of £8,333.

I cannot stress highly enough the need to be in a position to
secure a preferential exchange rate quickly since events that
can move exchange rates both quickly and dramatically happen
more often than people realise.

The Euro vs. the £

The Euro started the week at 1.477ish and is currently 1.473ish.

Following the election result in Germany the Euro traded in a
range of 1.48 to 1.485. However this was short lived as poor
UK export data on Thursday led to the Euro strengthening by
over a cent.

There has been no clear trend in the Euro/sterling exchange
rate for the last few months – just a broad trading range of
1.44 to 1.50. We are currently right in the middle of this
trading range. If time allows you, you should try and secure
an exchange rate if buying Euros in the top half and if
selling Euros in the bottom half.

Just so you know, currencies such as the Cypriot £ and the
Hungarian Forint, which are planning to move to the Euro in
due course, are closely aligned to the Euro. Therefore they
tend to track the Euro. Sometimes they do have a life of
their own but they do tend to come back into line sooner
rather than later.

If you need to BUY or SELL EUROS now is a good time to
discuss your options, so call me on 0870 285 0364 or fill out
our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The US$ vs. the £

Two weeks ago, post Hurricane Katrina, the US$ was 1.84 plus.
It is now 1.780. A strong rebound for the US$. We are now
back to pre Hurricane Katrina levels.

In the space of 3 weeks the US$ has lost 3.5% of its value
and then regained it.

The Fed raised interest rates on Tuesday. The hope/expectation
was that interest rate increases would be put on hold post
Hurricane Katrina, hence the weakness in the US$. This did not
happen. The originally planned increase happened and more are
on their way. The Fed sees inflation as a big problem.

Longer term we are still in a conflict between increasing inflation
and increasing interest rates vs. the twin deficits of budget and
balance of payments. Who will win? If history is to be repeated we
could be seeing the start of a strengthening phase for the US$.

As always I think the key is to work to a realistic budget price
and when this budget rate presents itself secure it either through
an immediate purchase of the currency or through a forward contract
[please call to discuss this option if you are unclear as to what
this means].

The Dirham and the US$ are closely tied. Therefore as the US$ moves
so does the Dirham.

If you need to BUY or SELL USD, call me on 0870 285 0364 to discuss
your options or fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Aus $ vs. the £

The Aus$ is strengthening again. It has pulled back to just under
2.35 from around the 2.40 level. Being a higher yield currency it
has some benefits over sterling.

The Aus$ hit a high of 2.27ish late July. We have to be wary that
the recent weakness in the Aus$ may be a breather prior to further
strengthening. The commodity boom continues apace with Australia
benefiting accordingly.

If you need to BUY or SELL Australian Dollars, call me on 0870 285
0364
to discuss your options or or fill out our online quotation
form at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Can$ vs. the £

The Can$ moved from 2.132 at the start of the week to 2.08 at the
end. The Can$ is very strong at the moment. Justifiably so as the
economy seems to be booming and its commodities are in much demand

Over the last few months the Can$ has strengthened by 10%. At the
end of April it was 2.35ish. The level of 2.10 is very significant
and for the Can$ to strengthen further will take some effort.
However, if it does so then we would more than likely see a very
rapid appreciation.

History would still favour a return in the Can$ to 2.20 plus but
timescales are difficult if not impossible to estimate!

If you need to BUY or SELL Canadian Dollars, call me on 0870 285
0364
to discuss your options or fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

If you would like to discuss a currency not mentioned in this note,
the latest movements, secure an exchange rate or discuss your
particular situation, please feel free to contact me on 0870 285 0364

Lastly, we’re always working to improve the service provided by Smart
Currency Exchange, so if I can produce information in a better format
or make it easier to understand, of if you want me to clarify what a
particular term means, please send me your questions, suggestions
and/or comments to mailto:Charles@SmartCurrencyExchange.com

Think Smart,

Charles Purdy
Director

Phone: 0870 285 0364
Fax: 0870 285 0365
http://www.SmartCurrencyExchange.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The UK’s 1st (and Only) Currency Exchange Service Dedicated
Exclusively to Overseas Property Buyers

To get your complimentary reports go to:
www.SmartCurrencyExchange.com/freereport.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer

As ever these are my musing as to how I see the various markets
going.

Posted September 16th, 2005 by Charles Purdy

Weekly Curreny Note – 16th September 2005

Weekly currency note: 16th September 2005

Overview

No great movement between Sterling and the Euro over
the week. We await the result of the German election
this weekend. The US$ continued to strengthen as the
affect of Hurricane Katrina on the markets begins
to wane.

Another horror story this week when a new client was
explaining how the exchange rate moved against him as
he paid for his off plan apartment. Some careful
(and creative) currency management would have saved
him a lot of money.

If you are buying overseas it is important to set a
budget exchange-rate and work with Smart Currency
Exchange to secure that rate. This can save you
money and also remove the stress and strain.

I still stress that it is very important to be in a
position to secure a preferential exchange rate quickly
since events that can move exchange rates both quickly
and dramatically happen more often than people realise.

The Euro vs. the £

The Euro started the week at 1.48ish and is currently
1.477ish. Sterling pushed towards 1.485 in the first
half of the week but fell back on poor UK retail
figures.

We await the results of the German election this weekend.
Will a hung German parliament be bad for the Euro? Common
sense would say yes but when does common sense apply to
the currency market!

I still maintain my view of previous weeks Sterling seems
to have a slight edge over the Euro but there is no clear
trend – just a broad trading range of 1.44 to 1.50. I
suspect that we are not going to see any dramatic moves
unless there is a major economic or other type of event
to affect matters.

Just so you know, currencies such as the Cypriot £ and
the Hungarian Forint, which are planning to move to the
Euro in due course, are closely aligned to the Euro.
Therefore they tend to track the Euro. Sometimes they
do have a life of their own but they do tend to come
back into line sooner rather than later.

If you need to BUY EUROS now is a good time to discuss
your options, so call me on 0870 285 0364 or fill out our
online quotation form at:
http://www.smartcurrencyexchange.com/smartquotation.htm

The US$ vs. the £

The US$ started the week at 1.839 and is now 1.804. A
strong rebound for the US$.

It would appear that people are expecting the Fed to raise
interest rates next week or at the very least the Fed will
indicate that after a short respite to counter the affect
of Hurricane Katrina interest rates will continue to be
increased.

Could be a volatile week for the US$.

Longer term we are still in a conflict between increasing
inflation and increasing interest rates vs. the twin deficits
of budget and balance of payments. Who will win? If history
is to be repeated we could be seeing the start of a
strengthening phase for the US$.

As always I think the key is to work to a realistic budget
price and when this budget rate presents itself secure it
either through an immediate purchase of the currency or
through a forward contract [please call to discuss this
option if you are unclear as to what this means].

The Dirham and the US$ are closely tied. Therefore as the
US$ moves so does the Dirham.

If you need to BUY USD, call me on 0870 285 0364 to discuss
your options or fill out our online quotation form at:
http://www.smartcurrencyexchange.com/smartquotation.htm

The Aus $ vs. the £

The Aus$ is strengthening again. It has pulled back to just
over 2.35 from around the 2.40 level a couple of weeks ago.
Being a higher yield currency it has some benefits over
sterling.

The Aus$ hit a high of 2.27ish late July. We have to be wary
that the recent weakness in the Aus$ may be a breather prior
to further strengthening. The commodity boom continues apace
with Australia benefiting accordingly.

If you need to BUY or SELL Australian Dollars, call me on
0870 285 0364 to discuss your options or or fill out our
online quotation form at:
http://www.smartcurrencyexchange.com/smartquotation.htm

The Can$ vs. the £

The Can$ moved from 2.165 at the start of the week to 2.132
at the end. Tracking the US$’s strength.

Over the last few months the Can$ has strengthened significantly.
At the end of April it was 2.35ish. Early July it hit 2.11.
A 10% appreciation in just over 3 months! The level of 2.10
is very significant and for the Can$ to strengthen further
will take some effort.

Expectation would favour a return in the Can$ to 2.20 plus.
Timescales though are difficult if not impossible to estimate!

If you need to BUY or SELL Canadian Dollars, call me on
0870 285 0364 to discuss your options or fill out our online
quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

If you would like to discuss a currency not mentioned in this
note, the latest movements, secure an exchange rate or discuss
your particular situation, please feel free to contact me
on 0870 285 0364

Lastly, we’re always working to improve the service provided
by Smart Currency Exchange, so if I can produce information
in a better format or make it easier to understand, of if you
want me to clarify what a particular term means, please send
me your questions, suggestions and/or comments
to mailto:Charles@SmartCurrencyExchange.com

Think Smart,

Charles Purdy
Director

Phone: 0870 285 0364
Fax: 0870 285 0365
http://www.SmartCurrencyExchange.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The UK’s 1st (and Only) Currency Exchange Service
Dedicated Exclusively to Overseas Property Buyers

To get your complimentary reports go to:
www.SmartCurrencyExchange.com/freereport.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer

As ever these are my musing as to how I see the various
markets going. They should not be taken as fact. The market
does what it wants to do. I have no crystal ball and as ever
I recommend that if an exchange rate works for your budget
then don’t try and wait for an even better exchange rate,
as Murphy’s Law says the rate will go against you and cause
you maximum pain!

Posted September 13th, 2005 by Charles Purdy

Currency log: 13th September 2005

The Euro is hovering in the 1.48 to 1.485 range. This is towards the top of its recent trading range of 1.44 to 1.50.

The US$ has strengthened just under 2 cents in the last few days to 1.822ish. May well continue to strengthen as the expectation of interest rate rises increase.

If you would like to discuss further please give me a ring 0870 285 0365

Regards

Charles Purdy
www.SmartCurrencyExchange.com

Posted September 12th, 2005 by Charles Purdy

Currency log: 12th September 2005

The Euro continues to gently weaken with the inter bank rate hitting 1.485. Getting towards the top of its trading range.

The US$ has moved nearly a cent and a half to just over 1.825. May well continue to strengthen as the expectation of interest rate rises increase.

If you would liek to discuss further please give me a ring 0870 285 0365

Regards

Charles Purdy
www.SmartCurrencyExchange.com

Posted September 9th, 2005 by Charles Purdy

Weekly Currency Update

Dear Charles,

Weekly currency note: 9th September 2005

Overview

A much calmer week. Sterling gently strengthening against
the Euro and slowly weakening against the US$.

I was talking with a client the other day who explained to
me that a good friend of hers had “lost” £17,000 by not
securing the most preferential exchange rate for her stage
payments. You may think that this friend was buying a really
expensive house. This was not the case. The property cost
was just over £100,000!

Sometimes our clients believe that we are here just to help
them get better – This is not always the case…

…If you are buying overseas it is important to set a budget
exchange-rate and work with Smart Currency Exchange to
secure that rate. This can save you money and also remove
the stress and strain.

The Euro vs. the £

The Euro started the week at 1.465ish and is currently 1.48ish.
Still no hard news to affect the exchange rate significantly.

Sterling seems to have a slight edge over the Euro but there
is no clear trend – just a broad trading range of 1.44 to
1.50. I suspect that we are not going to see any dramatic
moves unless there is a major economic or other type of
event to affect matters.

Just so you know, currencies such as the Cypriot £ and the
Hungarian Forint, which are planning to move to the Euro
in due course, are closely aligned to the Euro. Therefore
they tend to “track” the Euro. Sometimes they do have a
life of their own but they do tend to come back into line
sooner rather than later.

If you need to BUY EUROS now is a good time to discuss your
options, so call me on 0870 285 0364 or fill out our online
quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The US$ vs. the £

A much calmer week. The US$ started the week at 1.835 and is
now 1.839. It has to be noted that it did spend a lot of the
week at 1.84 plus.

In the aftermath of Hurricane Katrina, instead of looking
for/expecting further increases in US interest rates the
expectation changed to minimal increases in the next few
months.

However this sentiment is changing and reverting to an
expectation of further interest rate increase in line with
those expected/forecast pre the hurricane.

The Fed, who set the interest rate in the US, meet next week.
This could be a very interesting [and volatile] week for
the US$.

Where to now? As noted last week, what was already a highly
complex situation has become even more complex.

As always I think the key is to work to a realistic budget
price and when this budget rate presents itself secure it
either through an immediate purchase of the currency or
through a forward contract [please call to discuss this
option if you are unclear as to what this means].

The Dirham and the US$ are closely tied. Therefore as the
US$ moves so does the Dirham.

If you need to BUY USD, call me on 0870 285 0364 to discuss
your options or fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Aus $ vs. the £

The Aus$ is beginning to strengthen again. It has pulled back
slightly to just under 2.38 from around the 2.40 level at the
start of the week. Being a higher yield currency it has some
benefits over sterling.

The Aus$ hit a high of 2.27ish late July. We have to be wary
that the recent weakness in the Aus$ may be a breather prior
to further strengthening. The commodity boom continues apace
with Australia benefiting accordingly.

If you need to BUY or SELL Australian Dollars, call me on
0870 285 0364 to discuss your options or or fill out our
online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Can$ vs. the £

The Can$ moved from 2.175 at the start of the week to 2.165
at the end. Not a significant move, more a gentle meander.

Over the last few months the Can$ has strengthened
significantly. At the end of April it was 2.35ish.
Early July it hit 2.11. A 10% appreciation in just over
3 months! The level of 2.10 is very significant and for
the Can$ to strengthen further will take some effort.

Expectation would favour a return in the Can$ to 2.20 plus.
Timescales though are difficult if not impossible to estimate!

If you need to BUY or SELL Canadian Dollars, call me on
0870 285 0364 to discuss your options or fill out our
online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

If you would like to discuss a currency not mentioned in this
note, the latest movements, secure an exchange rate or discuss
your particular situation, please feel free to contact me
on 0870 285 0364

Lastly, we’re always working to improve the service provided
by Smart Currency Exchange, so if I can produce information
in a better format or make it easier to understand, of if
you want me to clarify what a particular term means, please
send me your questions, suggestions and/or comments to
Charles@SmartCurrencyExchange.com

Think Smart,

Charles Purdy
Director

Phone: 0870 285 0364
Fax: 0870 285 0365
http://www.SmartCurrencyExchange.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
“The UK’s 1st (and Only) Currency Exchange Service
Dedicated Exclusively to Overseas Property Buyers”

To get your complimentary reports go to:
www.SmartCurrencyExchange.com/freereport.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer

As ever these are my musing as to how I see the various
markets going. They should not be taken as fact. The market
does what it wants to do. I have no crystal ball and as
ever I recommend that if an exchange rate works for your
budget then don’t try and wait for an even better exchange
rate, as Murphy’s Law says the rate will go against you
and cause you maximum pain!

If you no longer wish to receive communication from us:
http://autocontactor.com/app/r.asp?ID=46056571&ARID=120377

To update your contact information:
http://autocontactor.com/app/r.asp?c=1&ID=46056571

Posted September 8th, 2005 by Charles Purdy

Currency log: 9th September 2005

The Euro has weakened slightly to an inter bank rate of 1.477. No real momentum just gently drifting.

The US$ has strengthened moving out of its range 1.84 to 1.85 to 1.8374 inter bank as I write. The big question still evolves around interest rates and the likelihood that rates in the US will continue to be increased. If it transpires that interest rate rises are still on the agenda then expect to see a strengthening of the US$.

Any questions please call me on 0870 285 0364

regards

Charles Purdy

Posted September 7th, 2005 by Charles Purdy

Currency log: 7th September 2005

The Euro inter bank rate is hoverering around the hovering level. No real momentum in any direction.

The US$ appears to have stabilised in the 1.84 to 1.85 range. Sentiment has changed slightly in that interest rate rises may still be on the agenda for later this year. Original speculation was that further interest rises following the problems in New Orleans were highly unlikely.

If you would like to discuss further please call me on 44 [0]870 285 0364.

regards

Charles Purdy

Posted September 5th, 2005 by Charles Purdy

Currency log: 5th September 2005

The Euro has weakened to 1.47. Still no real trend.

The US$ has weakened further to just under 1.85. The effect of Katrina is still being felt on the financial markets.

Any questions please give me a call on 44 [0] 870 285 0364

Regards

Charles Purdy

Posted September 2nd, 2005 by Charles Purdy

Currency update

Dear Charles,

We’re always working to improve the service provided by
Smart Currency Exchange, so if I can produce information in
a better format or make it easier to understand, of if you
want me to clarify what a particular term means, please send
me your questions, suggestions and/or comments
to Charles@SmartCurrencyExchange.com

On to this weeks currency note…

Currency note: 2nd September 2005

An extraordinary week for the US$. When sentiment changes,
currencies move very quickly. 3% in just under 3 days for
the US$. If you were looking to repatriate US$180,000 from
the US into sterling you would have “lost” £3,000 in those
three days. That is why it is so important to be in a
position to secure your position by simply making a phone
call.

The Euro vs. the £

The Euro ended the week where it started at 1.465ish. Again,
no hard news to affect the exchange rate significantly.

Sterling seems to have a slight edge but it has to be noted
that there is no clear trend just a trading range of 1.44 to
1.50. I suspect that we are not going to see any dramatic
moves unless there is a major economic or other type of event
to affect matters.

Just to remind you, the Cypriot £ and the Hungarian Forint are
closely aligned to the Euro as it is planned that they will be
replaced by the Euro in due course. Therefore they tend to
“track” the Euro.

If you need to BUY EUROS, now may be the time to get yourself
in a position to be able to secure a rate quickly by simply
making a telephone call. In other words, don’t risk losing out
on a great rate due to the fact that you’re not registered and
can’t have access to buying at market rates.

To secure a rate by making one phone call, simply register and
call Smart Currency Exchange on 0870 285 0364 to request your
Smart Application Pack or if you’re already registered, just
pick up the phone and call me to discuss your exact
requirements.

The US$ vs. the £

As noted above an extraordinary week for the US$. Over the
holiday weekend the US$ strengthened to 1.785. However the
knock on affect of Hurricane Katrina and the resultant
terrible situation in New Orleans on the US$ have been swift.
This morning it stands at 1.835.

Interest rate sentiment has changed. Instead of looking
for/expecting further increases in US interest rates the
expectation has changed to minimal increases in the next
few months.

However this sentiment could change if inflation is considered
to be the greater risk as the main tool to combat this seems
to be higher interest rates.

Where to now? What was already a highly complex situation has
become even more complex. As always I think the key is to work
to a realistic budget price and when this budget rate presents
itself secure it either through an immediate purchase of the
currency or through a forward contract [please call to discuss
this option if you are unclear as to what this means].

The Dirham and the US$ are closely tied. Therefore as the US$
moves so does the Dirham.

If you need to BUY USD, now may be the time to get yourself in
a position to be able to secure a rate quickly by simply making

a telephone call. In other words, don’t risk losing out because
the USD strengthens while you spend time to register and can’t
have access to buying instantly.

To secure a rate by making one phone call, simply register and
call Smart Currency Exchange on 0870 285 0364 to request your
Smart Application Pack or if you’re already registered, just pick
up the phone and call me to discuss your exact requirements.

The Aus $ vs. the £

The Aus$ has been affected by the US$. The rate is just under
the 2.40 level. The weakening in the last week has not been as
significant as the US$ move, being less than 1%.

However, it does show that the Aus$ is affected by the US$.
Therefore short term the movement in the Aus$ may be governed
by what happens to the US$.

However, we still have to be wary as the change may be a breather
prior to further strengthening. The commodity boom continues
apace with Australia benefiting accordingly and therefore its
economic fundamentals are a lot different to those of the US.

If you need to BUY or SELL Australian Dollars, get yourself in
a position to be able to secure a rate quickly by simply making
a telephone call. In other words, don’t risk losing out because
the AUS$ moves rapidly and you are spending time to register
and can’t have access to exchange instantly.

To secure a rate by making one phone call, simply register and
call Smart Currency Exchange on 0870 285 0364 to request your
Smart Application Pack or if you’re already registered, just
pick up the phone and call me to discuss your exact requirements.

The Can$ vs. the £

The Can$ is moved from 2.145 at the start of the week to 2.175.
A 1.4% weakening. Again, not as significant as the US’s weakening
but still material.

Over the last few months the Can$ has strengthened significantly.
At the end of April it was 2.35ish. Early July it hit 2.11.
A 10% appreciation in just over 3 months! This level of 2.10
is very significant and for the Can$ to strengthen further
will take some effort.

Expectation would favour a return in the Can$ to 2.20 plus.

If you need to BUY or SELL Canadian Dollars, get yourself in a
position to be able to secure a rate quickly by simply making
a telephone call. In other words, don’t risk losing out
because the CAN$ moves rapidly and you are spending time to
register and can’t have access to exchange instantly.

To secure a rate by making one phone call, simply register and
call Smart Currency Exchange on 0870 285 0364 to request your
Smart Application Pack or if you’re already registered, just
pick up the phone and call me to discuss your exact requirements

If you like to discuss a currency not mentioned in this note,
the latest movements, secure an exchange rate or discuss your
particular situation, please feel free to contact me
on 0870 285 0364

Think Smart,

Charles Purdy
Director

Phone: 0870 285 0364
Fax: 0870 285 0365
http://www.SmartCurrencyExchange.com

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Disclaimer

As ever these are my musing as to how I see the various
markets going.

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