Welcome to the Pure FX account of the latest changes in the foreign exchange rates, covering the 7th to 14th September 2012. This is intended as a brief guide to movements in the exchange rates this week, to put you in the best position when you exchange currencies. Exchange Rate Changes: UK pound to euro: 1.2601 to 1.2415 (-1.476%) UK pound to US dollar: 1.5939 to 1.6198 (+1.625%) Euro to US dollar: 1.2644 to 1.3047 (+3.187%) The US dollar in particular lost an astonishing four cents against the euro this week, as investors remained upbeat about the European Central Bank’s bond buying scheme, while rejoicing on reports the Federal Reserve has announced more stimulus. So, the … [Read more...] about US dollar continues to slide on ECB and Fed stimulus
stimulus
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A year after Spain’s centre-left government officially launched a massive stimulus package known as the Plan Ẽ, workers are still losing their jobs, public debt levels are scaring markets, and the economy is not likely to emerge from recession until 2011 at the earliest. Plan Ẽ, with its billions for public works projects, tax breaks and subsidies, was never intended to be more than a temporary bandage to get Spain through the worst of the fallout from the international financial crisis and the collapse of the domestic real estate and construction sector. But the wounds inflicted on Spain’s once booming economy have turned out to be slow to heal, and tearing the plaster off - as, for … [Read more...] about Running on Ẽmpty