Orlando International Council

Dear Moneycorp Partner,

I am pleased to bring you the current market news for July. If you have an international client who may need to transfer funds, please contact us today - we can help! Your client will have more US Dollars to spend on their property purchase, immigration or property maintenance.

It pays to use the experts.            

British Pound      GBP/USD   H: 1.5998   L: 1.5119

Second quarter UK GDP figures sparked strong buying of Sterling, coming in much higher than expected as the Pound continued its steady path toward $1.60. The first reading of 1.1% showed a marked increase over the first quarter final reading of 0.4%. The upward trend on cable continued as the market sold off USD on the back of successive negative US fundamental data.  Improved, but still considerably weak US housing figures combined with significantly lower US core durable goods orders added to the diminished appetite for US Dollar buying... Read more   

EURO                EUR/USD    H: 1.3335 L: 1.2733  

The Euro faced a massive test of confidence as 91 European banks were put through a series of audits designed to gauge each individual institution's capability to survive further financial shocks to the banking system... Read more 

Canadian Dollar           CAD/USD   H: 0.9888   L: 0.9446

The major news for Canadian Dollar was the Bank of Canada's raise in their benchmark interest rate, moving up by quarter percent to 0.75%. The Loonie has continued to trade within its recent ranges as traders see neither a firm reason to buy or sell versus USD. Since the interest rate increase, Canadian fundamentals have not impressed. The Canadian economy showed a trade deficit of more than a Billion CAD$, not a good reading for an export orientated economy... Read more 

Please contact your Account Manager today. You have a local team that is here to help. Let us help your client get the best exchange rate!

Sincerely,

Laura McLoughlin

Regional Manager 

Moneycorp, Inc.