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Hi All,

Here’s an update on what’s been happening with the Euro over the last week.

The highest RICS (Royal Institution of Chartered Surveyors) reading since May 07, told us a net 22% of surveyors had seen a rise in house prices in their area, another sign of strength for the housing market from this key leading indicator. The BRC (British Retail Consortium) retail survey posted a 2.8% rise in like-for-like sales in October and the UK unemployment data confounded the doomsayers by showing a slowdown in the jobless numbers. But GBP/EUR drew little comfort from this data, or from a fall in the German ZEW survey, posting a new 7 month low at 1.0610.

GBP/EUR movement – High’s & Low’s of last week (12/10/09 - 16/10/09)

High’s: 1.0998
Low’s: 1.0625

A movement of: 3.51%

Difference on £200k

High: €219,960
Low: €212,500

Difference of: €7,460

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

A further update will be added next week.

Regards




Jon Sermon
HiFX
 
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