$1.2333 = €1.0
$1.5692 = £1.0
US MARKET - 12/18/2014
The pound regained lost ground on the dollar this morning after UK retail sales completely outstripped market expectations. Sales grew 1.6% in November, the biggest month-on-month gain in 10 years boosted by the US-style ‘Black Friday’ sale. Added to yesterday’s stronger- than-expected UK wage growth data the pound has found much need fundamental support. As of last night, GBP/USD had fallen 10.6% since
July’s 1.7191 peak. Overnight the biggest story in FX was the Fed’s
policy announcement in which Yellen laid the groundwork for a rate hike in Q2 2015. The USD Index, which measures the dollar’s strength across a basket, moved back towards 2009 highs. EUR/USD is trading back near 1.2300 and again within striking distance of August 2012
lows. Breaking news this morning was the Swiss franc which fell
sharply after the SNB surprised markets by turning its deposit rate negative. The move comes as investors look to move money out of Russia and into safe havens. Meanwhile euro weakness and the possibility of ECB QE had pushed the EUR/CHF rate dangerously close to the SNB’s 1.20
peg. In Europe, today’s German Ifo business index rose for its
second month, adding to signs the region’s strongest economy is recovering. In Greece PM Samaras yesterday failed to win the first round of Presidential elections. Round 2 of voting is on Dec. 23 and a possible final round on Dec. 29. Failure by Samaras to win the votes he needs will lead to snap elections and potentially to revival of the ‘Grexit’ story in 2015.
The Information contained herein is collected from sources believed by Western Union Business Solutions (USA), LLC to be reliable. However, Western Union Business Solutions (USA), LLC can not guarantee it to be free from errors. The information presented on this page is not an offer to buy or sell any currency.
For customers traveling in 2015: "Prices
are subject to shifts in currency exchange rates and will be adjusted up or down
at the time of payment only if the rate falls outside of the ranges: 1.0-1.4 dollar/Euro
or 1.4-2.0 dollar/£. When adjustments are necessary, we will use the currency
we use to pay the owner and calculate it from the exchange rate received on the
2000 and in 2001 Doorways gave a refund to guests after they paid their
final bill. Everyone was very happy then! For the beginning of 2008, we had to collect extra money but for recent years, there has been no adjustment either way. Customers renting properties for 2015 for which the owners are paid in Euros may be charged a currency adjustment
on the unpaid balance, according to the value of the dollar versus the Euro at
the time of the final bill; the adjustment could be up or down. Should you want to protect yourself against decline of the dollar,
you can pay your final bill early. Here's hoping that the dollar continues to strengthen in time for your trip!