Foreign Exchange News

This is Money24 July 2008 My parents are retiring to Ireland and wish to change from sterling to euros a considerable sum of money, which includes the proceeds from the sale of their London home. What is the best way to do this to get the most for their money? M.M.I., Ealing, West London Selling up: Don't be stung with a poor exchange rate when moving abroad WANT TO KNOW MORE? Currency converter How do we beat currency charges? Moving money abroad Moving abroad: Banking Bu ...

Simon Duke, Daily Mail27 August 2008, 8:21am Data The pound plunged to a two-year low against the dollar yesterday, putting it on course for its worst month since Britain withdrew from the European Exchange Rate Mechanism in 1992. Greenback gains: Sterling has fallen dramatically against the dollar in the last month. WANT TO KNOW MORE? Sterling and shares dive on banking fears Sterling weakens on rate cut hopes Slump in sterling pounds economy OTHER STORIES Energy  ...

LONDON, Aug 27 (Reuters) - Copper rose on Wednesday as the dollar weakened, but gains were capped by concerns about demand from China, the world's biggest consumer of the metal. Copper for delivery in three months on the London Metal Exchange rose to $7,560 per tonne in official rings from $7,580 on Tuesday. Traders in Shanghai said they have seen new material coming into the physical market, wh ...

LONDON, Aug 27 (Reuters) - The dollar retreated on Wednesday as dealers cashed in on the currency's jump the previous session to 2008 highs against a basket of currencies while hawkish rhetoric from a European Central Bank policymaker lifted the euro. The euro was already in recovery mode from Tuesday's six-month low set after a report showed the Ifo index of German business confidence slumping t ...

NEW YORK, Aug 27 (Reuters) - The dollar slipped on Wednesday as investors bet the U.S. currency's recent jump to 2008 highs against a basket of currencies was too far, too fast given hawkish rhetoric from a European Central Bank policy-maker. The euro got an added boost when ECB Executive Board member Axel Weber said any talk about lower interest rates in the euro zone is premature. A government ...

NEW YORK, Aug 26 (Reuters) - The dollar scaled six-month peaks against the euro on Tuesday, lifted by a jump in U.S. consumer confidence and expectations of interest rate cuts in the euro zone following weak German data that heightened concerns of a recession in the region. The euro initially tumbled versus the dollar following a barrage of data suggesting economic weakness has spread beyond the  ...

FRANKFURT, Aug 26 (Reuters) - European shares rose on Tuesday, erasing some of the previous session's losses, led by mobile phone maker Nokia <NOK1V.HE> and with the broader market helped by a surprise improvement in U.S. consumer confidence. The U.S. data sparked hopes that the worst might be over for the world's largest economy and outweighed a steeper-than-expected drop in German busines ...

NEW YORK, Aug 26 (Reuters) - The dollar rose to a six-month high against the euro on Tuesday as the single currency tumbled on weak German GDP data, which raised concerns of recession in the euro zone and fuelled expectations of interest rate cuts. Adding to the euro's woes, the Ifo German business climate index in August fell more than expected to a three-year low. The dollar extended its rally ...

LONDON, Aug 26 (Reuters) - Sterling sank to a two-year low against the dollar on Tuesday after a surprisingly weak reading of German business confidence bolstered the view that Europe, including the UK, is in increasingly in deep economic trouble. Sterling's slide against the greenback, which hit its highest level of the year against a basket of currencies, pushed the trade-weighted pound  ...

NEW YORK, Aug 26 (Reuters) - The U.S. dollar extended gains on Tuesday after a report showed U.S. consumer confidence was higher than expected in August. The euro was last trading at $1.4637 <EUR=> compared with 1.4645 before the report. The dollar was last trading at 109.50 yen, up 0.2 percent on the day, from 109.40 yen <JPY=> before the release of the data. (Reporting by Ni ...