News on Money Transfers

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• Foreign Exchange News

• The pound sterling has continued to outperform this morning due to speculation regarding M&A activity and rumours that the Bank of England will not be increasing quantitative easing in November.

  The dollar fell to a four-week low against sterling but held strong against the yen. The euro fell against the dollar and the Aussie was boosted by hawkish comments from the RBA Governor. >> More Pound Sterling Continues to Rise

• It's been a tough morning for US currency, which continued to weaken, hitting its lowest in more than a year against the euro and Swiss franc on higher equities and oil prices, as well as speculation that US interest rates will stay low for some time.

  Positive signs came through for the global economy today as world stocks hit a new 12-month high, driven by positive earnings from US tech giant Intel and surprisingly strong trade figures from China. The euro has hit it's highest since August 2008 at USD 1.49 on EBS trading systems whilst the pound rallied to make a recovery from falls earlier this week. The Swiss franc also rose to its strongest since July 2008. >> More Euro Hits Highest Rate since 2008

• Sterling remained under pressure, with the euro hitting a new 6-month high of 93.89 against the pound. The yen took a broad slide as resilience in oil, commodity and equity prices supported units such as the New Zealand and Australian dollars. The US dollar inched up against other currencies on Tuesday but didn't stray far from recent lows as traders await clearer signs from US corporate earnings,

  German investor sentiment data and stock market performance.??Early trading in Europe was subdued and restricted to narrow ranges; however the result of the US Federal Budget Balance is expected to drive volatility for the US dollar and forex trading today. The German ZEW Economic Sentiment, the British CPI and BOE Inflation More >> Australian Dollar Hits all time High

• The dollar was stronger against major currencies this morning and reached a two-week high against the Japanese yen, whilst sterling was struck by reports that rates are to remain at rock-bottom levels.

  Other news this morning includes Gordon Brown's proposals to reduce the rising budget deficit by raising GBP16 billion from the sale of assets. Meanwhile the euro slid despite a brief rise last week whilst the Australian dollar rose to a two-month high against the yen More >> Dollar gains against Yen