Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted May 31st, 2007 by Charles Purdy

Smarts Daily Currency Note – 31st May 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 31st May 2007


Currency

Rate

EURO

1.475

CY£

0.853

US$

1.975

CHF

2.422

CAN$

2.112

AUS$

2.394

Comments: The only currency that has been moving against sterling is the Canadian dollar which continues to strengthen. The Canadian economy is on the up and there is an expectation of increased Canadian interest rates. Information out of Euro land on the Euro land economy was positive again lending support for further Euro land interest rate rises. Otherwise we await the US non farm payrolls tomorrow to see how the US economy is doing.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.


Leave a Reply

You must be logged in to post a comment.

Posted May 30th, 2007 by Charles Purdy

Daily Currency Note from Smart Currency – 30th May 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 30th May 2007

Currency

Rate

EURO

1.472

CY£

0.852

US$

1.978

CHF

2.422

CAN$

2.123

AUS$

2.419

Comments: Another steady day for sterling. As stated yesterday the main news for this week is likely to centre around the US non farm payroll figures due on Friday as this will give an indication of how the US economy is doing.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted May 29th, 2007 by Charles Purdy

Smarts Daily Currency Note – 29th May 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 29th May 2007

Currency

Rate

EURO

1.476

CY£

0.853

US$

1.984

CHF

2.435

CAN$

2.147

AUS$

2.425

Comments: Could be an interesting week as quite a lot of economic information is due out. Early in the week the minutes of the last Fed meeting are out. Also US inflation figures are released and then at the end of the week US non-farm payroll figures. The last of these three releases is likely to be the most closely watched.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted May 25th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 25th May 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates 25th May 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.463
1.476
CY£
0.847
0.854
US$
1.977
1.984
CAN$
2.155
2.144
AUS$
2.398
2.423
NZD
2.703
2.730

CHF

2.422
2.437

ZAR(Rand)

13.924
14.090

Charles’s Thoughts: Sterling was buoyed by the release of the Bank of England minutes from their last meeting. The position taken by the BOE on increasing rates [remember they increased UK interest rates by 0.25%] was more robust than the market expected. This has got the market pencilling in a possible increase in UK interest rates in July of 0.25%. Short term sterling will be supported. Longer term, as I noted last week, there is the possibility of rates being increased by more than once as the BOE continues to be concerned by inflationary pressures. This would give further support to sterling.

The US$ lost a bit of ground against sterling but nothing too material. The economic data coming out of the US has been better than expected this past week and the market is hoping that the US economy has stabilised. However, the downside risks are still significant given the uncertainty over the housing market and the twin US deficits of budget and balance of payments.

Euro land continues to move forward and the various economies are all performing reasonably. Interest rates are expected to be increased in June by 0.25%. Even though there is some disquiet over the strong Euro I don’t expect any short term action to be taken to undermine it

The fillip to sterling from the BOE minutes helped it gain against most other currencies apart from the Canadian $. The Canadian $ has hit 30 year highs against the US$ and the Canadian economy is so robust that I wouldn’t expect mush slippage against sterling in the short term.

Why is Currency Management So Important? Exchange rates never do what you want them to do. The rate is moving in your direction, all economic information seems to indicate that this will continue for the foreseeable future but suddenly (and instantaneously) the market reverses on you. All you see flash before your eyes are £ signs. This is why it is vital to set a budget/target exchange rate which is realistic and grab it when it is available. The rate may continue in your direction but experience has taught me that although annoying for this to happen it is a lot less painful than an actual LOSS.

Smart Client Testimonial: “Thank you for your help in depositing the euros in the French bank. Your advice and service was excellent and we will certainly make our future transactions through your Company. Having never made a transaction such as this we were a little nervous by not using a conventional bank, however, you gave us a competitive rate which on the amount transferred was quite a saving on the High Street Bank. Thank you.” DR& M Jenkins, Bridgend

If you haven’t opened a Smart account yet, call me on freephone 0808 163 0102 or fill out our online Account Form at: http://www.smartcurrencyexchange.com/application.htm

How much will a Property Cost? To estimate the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above. But note this is based on the inter bank rate so the actual cost will be slightly more.

Charles Purdy
Charles Purdy


Smart Resources

Currency Strategy Worksheet
Need help creating a Currency Strategy? Download our Currency Strategy Worksheet:
http://www.smartcurrencyexchange.com/downloads/CurrencyStrategyWorksheet.pdf

Currency Report
Have your read our 10-page Currency Report that outlines the top 3 mistakes that overseas buyers make when exchanging and transferring their money overseas? Get the report here:
http://www.smartcurrencyexchange.com/downloads/ThreeMistakes.pdf

Currency Quotation
Are you interested in a currency rate for Euros, US$’s, CYP, NZD, or any other currency, please fill out our Smart quotation form at:
http://www.SmartCurrencyExchange.com/smartquotation.htm


Smart Currency Exchange Limited


Posted May 24th, 2007 by Charles Purdy

Smarts Daily Currency Note – 24th May 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 24th May 2007

Currency

Rate

EURO

1.477

CY£

0.853

US$

1.986

CHF

2.440

CAN$

2.151

AUS$

2.414

Comments: Oh well, I wondered if I was tempting fate when I wrote yesterday that there was nothing on the horizon that was likely to effect sterling. But I was wrong. The Bank of England minutes from the last meeting were released yesterday and they were much more robust on the recent 0.25% increase in UK interest rates than expected and has got the market pencilling in a possible further interest rate increase as early as July. This will lend support to sterling for the short term. But please note there was a surge in Euro land industrial orders in March which lends further support to their increasing interest rate cycle.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted May 23rd, 2007 by Charles Purdy

Smarts Daily Currency Note – 23rd May 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 23rd May 2007

Currency

Rate

EURO

1.468

CY£

0.850

US$

1.975

CHF

2.426

CAN$

2.146

AUS$

2.404

Comments: A slight improvement in sterling against the Euro. No clear reason. We are waiting for something to move the exchange markets but there is nothing obvious on the horizon.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted May 22nd, 2007 by Charles Purdy

Did you win the M&S voucher?

Posted May 22nd, 2007 by Charles Purdy

Smarts Daily Currency Note – 22nd May 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 22nd May 2007

Currency

Rate

EURO

1.464

CY£

0.849

US$

1.973

CHF

2.426

CAN$

2.140

AUS$

2.398

Comments: Sterling has been very steady against most currencies for the last three to four weeks. The US$ has shown a little bit of strength but the movement has been two to three cents. We just have to remember at the start of last year it was closer to 1.70 than 1.98. The movement between the Euro and sterling has been minimal over the last few weeks. The only currency that has shown major movement is the Canadian $. The Canadian $ has reached 30 year highs against the US$ and has gained over 15 cents from its low of 2.32 against sterling. Canada is a country that is booming with huge natural resources.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted May 18th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 18th May 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers

Weekly Currency Interbank Exchange Rates 18th May 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.466
1.463
CY£
0.848
0.847
US$
1.982
1.977
CAN$
2.208
2.155
AUS$
2.381
2.398
NZD
2.701
2.703

CHF

2.416
2.422

ZAR(Rand)

13.822
13.924

Charles’s Thoughts: Sterling has had a quiet week against the Euro and the US$. The Governor of the Bank of England “hinted” that UK interest rates were likely to be increased later in the year by another 0.25%. This was a slight surprise given that inflation had pulled back below 3%. However the BOE is still concerned that labour costs could increase unduly and house prices in the South East continue to rise. This is not a short term solution either as the BOE’s economic model apparently shows significant inflationary pressures two years out. So we are unlikely to see interest rates in the UK pull back any time soon.

The US$ gained slightly against sterling. It has seen steady progress in the last few weeks albeit hardly significant. Apparently unemployment fell in the US during April. US interest rates are expected to be kept on hold for the next few months and thereafter be reduced. Very difficult to get too excited/hopeful that the US$ will strengthen significantly in the short to medium term. But also I wouldn’t get too excited/hopeful in seeing the US$ race through 2 towards the 2.05-2.10 level against sterling. It will take a lot of energy to do this. Very steady as she goes.

The Euro has been very steady. There is a level of conflict within Euro land which is going to be interesting to watch. Germany is still the worlds greatest exporter and the second largest importer. The economy is moving forward nicely and after a very long gestation period the country is now unified. On the other hand France and Italy are really hurting from the strong Euro as it makes their exports expensive and uncompetitive. Euro interest rates are expected to be increased in June. My feeling is that there is downside risk for sterling against the Euro but we will need a significant event to act as a catalyst. Upside movement will be slow.

The Canadian $ continues to strengthen against sterling. The movement has gathered pace over the last week. Unlikely to see us head all the way back to the 2 level but we have to remember that Canada has huge resources and a robust economy.

Why is Currency Management So Important? Exchange rates never do what you want them to do. The rate is moving in your direction, all economic information seems to indicate that this will continue for the foreseeable future but suddenly (and instantaneously) the market reverses on you. All you see flash before your eyes are £ signs. This is why it is vital to set a budget/target exchange rate which is realistic and grab it when it is available. The rate may continue in your direction but experience has taught me that although annoying for this to happen it is a lot less painful than an actual LOSS.

Smart Client Testimonial: “Thank you for your help in depositing the euros in the French bank. Your advice and service was excellent and we will certainly make our future transactions through your Company. Having never made a transaction such as this we were a little nervous by not using a conventional bank, however, you gave us a competitive rate which on the amount transferred was quite a saving on the High Street Bank. Thank you.” DR& M Jenkins, Bridgend

If you haven’t opened a Smart account yet, call me on freephone 0808 163 0102 or fill out our online Account Form at: http://www.smartcurrencyexchange.com/application.htm

How much will a Property Cost? To estimate the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above. But note this is based on the inter bank rate so the actual cost will be slightly more.

Charles Purdy
Charles Purdy


Smart Resources

Currency Strategy Worksheet
Need help creating a Currency Strategy? Download our Currency Strategy Worksheet:
http://www.smartcurrencyexchange.com/downloads/CurrencyStrategyWorksheet.pdf

Currency Report
Have your read our 10-page Currency Report that outlines the top 3 mistakes that overseas buyers make when exchanging and transferring their money overseas? Get the report here:
http://www.smartcurrencyexchange.com/downloads/ThreeMistakes.pdf

Currency Quotation
Are you interested in a currency rate for Euros, US$’s, CYP, NZD, or any other currency, please fill out our Smart quotation form at:
http://www.SmartCurrencyExchange.com/smartquotation.htm


Smart Currency Exchange Limited

Posted May 17th, 2007 by Charles Purdy

Smarts Daily Currency Note – 17th May 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 17th May 2007

Currency

Rate

EURO

1.463

CY£

0.848

US$

1.977

CHF

2.420

CAN$

2.174

AUS$

2.399

Comments: Sterling enjoyed a slight improvement against the Euro on the back of the Governor of the Bank of England “confirming” that there is likely to be a further 0.25% increase in interest rates later this year. The US$ on the other hand continued to strengthen against sterling.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.


© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus