DEC 2012/JAN 2013 |
www.opp-connect.com
US$1.45/€1 to US$1.20/€1 by mid- 2012. Since then, however, half of this gain has been given back. The driver of this is the uncertainty surrounding the southern states of the eurozone, their high levels of debt and whether they can afford or will be able to borrow in the international debt markets. The market now believes that there will be a solution to these debt problems as the European Central Bank seems willing to underwrite the debts of these southern states. But as with all things, the devil will be in the detail, so we wait to see how the next few months unfold. Of the three economies, the US seems to be in the best state, but that is hardly a state worth shouting about. US unemployment is still high and the Federal Reserve is mandated to bring it down. This means that their programme of quantitative easing is unlikely to be reduced any time soon. The UK economy is very dependent on what is happening in Europe and the European economy is slipping away as the politicians prevaricate over the bailout of the southern states. So, in summary, we have been through one hell of a decade since 2002. The recent shocks have abated and the US dollar seems to be in the ascendancy, but there is still room for shocks or surprises, so take nothing for granted when “predicting” future exchange rates as things can change very quickly!
FX GBP USD Exchange Rate Yearly 2.5 2
US DOLLAR | 57
1.5 1 0.5 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
The OPP currency reports are prepared by Smart Currency Exchange, independent currency brokers.
This series of reports can be downloaded from
www.opp-connect.com/infozone SCAN ME
To contact Smart Currency Exchange: Tel: +44 (0)207 898 0541 Email:
Partners@Smartcurrencyexchange.com
Coming next month... Round Table
Threats & Opportunities 2013
Where is our industry going?
A slightly belated review of the op- portunities that face the international property industry in 2013 – and the major threats that it faces.
Where are the markets? Which new ones will emerge? Which will wither away? What will be the eff ect of the state of the world economy? What about regulation?
Will new products emerge? What about alternatives?
Our panel of experts meets, over lunch, to discuss these and other key issues.
Exhibitions have long been a feature of the international property industry.
You can spend a lot of money on them.
Do they make sense? How do you get the best out of them? What should you do before you go and after you come back?
In the fi rst of two reports, three experts independently give their views. Will they agree?
This month the experts are the exhibition organisers. Next month: the exhibitors.
What is happening in Cyprus?
The emergence of Cyprus as a major destination for ‘Plan B’ immigrants and the ongoing issues relating to title deeds and failed developments. Steps to tackle its inventory of unsold property and its long term plans as a property market.
There is a lot of debate about what Cyprus should be doing and where it should be going.
We listen to all sides.
Three Wise (Wo)men Making Exhibitions work
Feature Cyprus
Country Report Spain
Part of our series of in-depth country reports, OPP tells you what you want to know if you are thinking of selling property in Spain.
These reports can also be downloaded from our website: www.opp-connect. com
Plus all your usual...
• News & Comment • Letters & Blogs • Business Pages • Features • Correspondent’s Reports • Interviews • Statistics • Problems
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