Good Morning,
The Dollar eased back a little yesterday as US shares took a knock and Federal Reserve member Stern talked down the chances of immediate economic recovery. As a recognized dove this shouldn't come as much of a surprise but it reminded the markets that they can't assume that US interest rates have the ability to move back up anytime soon. For those looking at property in the States this means that mortgage rates should remain low too.
In addition, Merril Lynch said yesterday that it would take a $5.7 billion third-quarter write-down and raise $8.5 billion by selling shares, thus adding to the uncertainty in the financial sector.
EUR/USD moved up to 1.5756 but the EUR fell back against a few other currencies including GBP falling to 0.7884 from 0.7933 highs yesterday morning.
Gold has edged a little higher to $930.45 as a safe haven facililty and inflation hedge against a rising oil price.
This morning sees UK Money Supply data which will be one of the key considerations to the interest rate setting MPC but attention will also be on the equity markets today to see what follow-through we get from yesterday's jitters.
Similar article listings
Type of Article: Finance and Legal, Property Buying Information
Other Categories: currency exchange, dollar exchange rate, exchange rates
Relevant property listings
Other Categories: currency exchange property, dollar exchange rate property, exchange rates property
Other Categories: currency exchange property, dollar exchange rate property, exchange rates property
Other Categories: currency exchange property, dollar exchange rate property, exchange rates property