Send Funds Overseas - Currency Converter

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Latest News from Currencies Direct

07/30/2010 05:34 PM

Weekly sterling update

With sterling and euro sticking within a predictable range, averaging about a cent oscillation over the last four UK and European sessions, it is clear that the summer lull is in full flow… The pound closes up at 1.2028 by the end of trading on Friday. All eyes appear to be on the dollar which [...]

07/30/2010 11:49 AM

All eyes on USA’s GDP

Of late, UK economic data has been extremely positive. However, since yesterday this trend has been broken. Overnight GfK Consumer Confidence fell by more than expected to -22 (consensus -20, previous -19). This follows yesterday’s news that house prices fell by more than expected in July, coming in at -0.5% m/m (consensus -0.3%, previous 0%). [...]

07/29/2010 02:18 PM

Poor reviews for the latest Beige Book

The Governor of the Bank of England, Mervin King, warned yesterday that a continued economic recovery was still unsure and that inflation is likely to remain above the 2% target for the next year.  King delivered a rather frank message to banks saying that their harsh treatment of corporate clients was leading to a “heartbreaking” [...]

07/28/2010 10:42 AM

Sterling surges on

Sterling received another boost this morning after a leading think-tank announced that Britain will avoid a double-dip recession and its economy will expand at trend growth rates as early as 2012. In the latest forecast from the National Institute for Economic and Social Research (Niesr), it predicts GDP growth of 1.3% this year, 1.7% next [...]

07/27/2010 02:25 PM

Chinese banks face potential defaults

One in fifth of the 7.66 trillion yuan (1.1 trillion dollars) that Chinese banks lent to local governments is “at serious risk of default”, is the latest potential default risk problem to halt the global recovery. Chinese banks lent vast sums of capital to local Chinese governments for construction projects after Beijing called for nationwide [...]