Another sign that the US economy is getting closer to recovery is the May index, which reported a 1.2% increase. In April of this year, the index was revised from a 1% increase to a 1.1% rise. Both months indicate that the recession is losing headway and that market volatility is slowing.
There were many factors that contributed to the increase in the May index including interest-rate spread, real money supply, stock prices consumer expectations.
Higher than expected index results have the US dollar exchange rate at GBP0.6106 and EUR0.7148.
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The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.
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Leaders at the G8 summit over the weekend indicated their desire for Greece to remain in the Euro...
Currency Rates
| US Dollars | 1.5800 |
| Euros | 1.2367 |
| Swiss Francs | 1.4856 |
| Australian Dollars | 1.6017 |
| South African Rand | 13.067 |
| GBP indicative mid-market rate at 19:10. Please call for quote. | |
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