International money transfers

International money transfers with Currency Today

Currency Today are a UK based FX currency broker specializing in International money transfers for corporate and domestic clients. Contact us for the very best exchange rates for all your money Transfer needs.

 

Interbank foreign exchange rates: Click here for holiday money rates Updated Monday 12th May 2008 EURO / GB POUND 0.7909 GB POUNDS / EURO  1.2643 BRITISH POUND / US DOLLAR 1.9469 EURO / US DOLLAR   1.5390 GB POUND / JAPANESE YEN 201.56 GBP/AUD 2.0710 GBP/NZD 2.5401 GBP/ZAR 14.8936 GBP/CHF 2.0404 GBP/CAD 1.9629 GBP/SGD 2.6679 GBP/THB 62.32 GBP/HKD 15.1769

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Why Currency Today for your International money transfers?

• Competitive - Executing millions of pounds worth of transactions a year provides clients access to a range of suppliers including banks and liquidity providers
  
• Transparency - We deliver our products and services with simplicity to all our clients surrounding their  International money transfers and associated costs
  
• Knowledgeable - The Currency Today team are trained to the highest standards on foreign exchange markets, payments, settlements and banking
  
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• Reassurance - Using Currency Today provide all our clients reassurance that funds sent through our accounts are safe and secure throughout
  
• Premier - We consider ourselves to provide an exclusive service to our clients unrivalled by our competitors
  
• Efficiency - We provide our clients with the most efficient service throughout. This is achieved through our knowledge, expertise and technology.
  
• Teamwork - Our employees and departments work hard to ensure your International money transfers experience is as smooth and hassle free
  
• Quality - Currency Today works on the highest industry standards and client satisfaction
  
• Innovative - Currency Today continues to use technology to be at the forefront of foreign exchange brokering

Friday 02/03/2007

• US dollar rises on strong ISM data
• Sterling hopes of rate hike continue to fade
• FX traders take a step back as markets undergo transition
• Japan begins to see unwinding of massive carry trade positions
• Exotics take another hammering as yield seekers unwind
• Oil continues to trade higher

US Dollar:

The dollar was the primary beneficiary of yesterdays uncertain trade with manufacturing data much stronger
than expected. The dollar rallied in the afternoon session helped by the Treasury’s Henry Paulson gave his
support to US growth by telling markets he sees US growth as ‘healthy’ and that he sees wages rising, which
may add pressure to the upside of inflation outlook.
In addition to the strong data markets saw the usual flight to safety run with the stock markets getting plastered.
Investors cash out of high-risk, high-yield exotic positions and reinvest in relatively safe bets such as
US Government bonds. Heavy demand for the greenback adds support as funds join the buy side.

Pound:

A relatively benign day for sterling as data came in flat and traders paused for breath following the equity
market crash this week. With construction data scheduled as the only release for the day we should see a
fairly quiet day.
It is worth noting that despite futures markets predicting a rate hike in March, a survey by the white Times
sees only 9 of 64 economists polled seeing a March hike. In addition the BoE has NEVER raised rates in March
which may be an additional reason behind the drop in sterling.

Euro:

The Euro underwent a tough trading session yesterday as it dropped against both the pound and the dollar.
ECB officials yesterday warned of the risk posed by any unwinding of the yen carry trade following the rapid
appreciation of the Euro this year. This week’s reversal of the equity markets has prompted a small unwind in
the carry trade which has seen the Euro suffering as a result.

General News:

• This week the yen has climbed rapidly as we have seen an unwinding of the carry trade. Following the
stock market plunge investors seeking cheap money have realised risk and cashed out of the heavy
Japanese positions built up through 2006. As a result the demand for yen has risen adding support to
the beleaguered currency. The carry trade positions built up, specifically by leveraged hedge funds,
should not be underestimated as investors seem to have been blinded by the opportunity to borrow
cheap money without taking into account the risk of Japanese growth. Value still remains in the carry
trade however; US-Japanese yield remains at a little under 5%.
• Emerging markets suffered again as investors cashed out of higher risk positions and rushed back to
safer investments like gold and US bonds. As a result currencies such as the Swissie have seen a rapid
appreciation.
• Oil trades $62.01 on the back of increasing demand from the US.

Interbank foreign exchange rates:
Updated 28th February
G BRITISH POUND / US DOLLAR 1.9556
GB POUNDS / EURO 1.4837
EURO / US DOLLAR  1.3175
GB POUND / JAPANESE YEN 229.94
GBP/AUD 2.4930
GBP/NZD 2.8267
GBP/ZAR 14.2358
GBP/CHF 2.3916
GBP/CAD 2.2929
GBP/SGD 2.9857
GBP/THB 65.783
GBP/HKD 15.2711

To enquire about today's exchange rate please click the following link International money transfers