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2015-03-13

Can the GBP/EUR resume the strong uptrend, or do forecasters believe it has peaked?

VIX is everywhere - opportunity is in the markets ---


German Consumer Price Inflation sent the Pound to euro exchange rate down today, drfiting off recent multi-year best conversions. 

Can the GBP/EUR resume the strong uptrend, or do forecasters believe it has peaked? 

A brief foreign exchange market summary before we bring you the rest of the report: 

The Pound to Euro exchange rate: GBP/EUR converts at 1.405.
The Euro to Pound exchange rate: EUR/GBP conversion is 0.712.
The Euro to US Dollar exchange rate: EUR/USD conversion is 1.05.
The Euro to Swiss Franc exchange rate today is converting at 1.056 EUR/CHF.

NB: the forex rates mentioned above, revised as of 14th Mar 2015, are inter-bank prices that will require a margin from your bank. Foreign exchange brokers can save up to 5% on international payments in comparison to the banks. Speak to a recommended FX provider to lock in the best exchange rates. - See more at: http://www.exchangerates.org.uk/news/12073/sterling-vs-euro-drops-following-latest-german-cpi-figure-.html#.dpuf

SC Petrom SA v. Glencore U.K. Ltd. & 3 Ors, High Court of Justice, Queen’s Bench Division, 08-417

(Bloomberg) -- Glencore Plc was ordered to pay just over $40 million to OMV Petrom SA by a U.K. court for fraudulently shipping oil of a lower-than-purported quality to Romania in the 1990s. Marc Rich & Co., later to become Glencore International AG, sold about 32 shipments to Romanian state firms from 1993 to 1996 made up of cheaper crude blends than agreed, and falsified documents, Julian Flaux, the judge in the London court, said in his ruling on Friday. It profited by about $40.1 million from the “deceit,” he said. Glencore will appeal the ruling.


From Bloomberg

The case is: SC Petrom SA v. Glencore U.K. Ltd. & 3 Ors, High Court of Justice, Queen’s Bench Division, 08-417

Snapshot of Vietnamese dong exchange rates in the official and unofficial markets - NEWSWIRE

HANOI, March 13 (Reuters) - Heres a snapshot of Vietnamese dong exchange 
rates in the official and unofficial markets, indicative SJC gold prices in 
Hanoi and interbank offered rates at 0402 GMT. 
March 13 March 12 
USD/VND mid-point VND=SBVN 21,458 21,458 
USD/VND interbank VND=VN 21,330/21,400 21,345/21,390 
USD/VND unofficial VNDUNOFF=VN 21,665/21,680 21,670/21,700 
SJC gold (mln dong/tael) 35.24/35.36 35.17/35.29 

Interbank offered rates Overnight 3.9-4.4 3.8-4.5 
1 week 4.0-4.6 3.9-4.5 
1 month 4.3-4.5 4.2-4.6 
3 months 4.3-5.0 4.3-5.0 

NOTES: State Bank of Vietnam rules allow dollar/dong transactions to move in 
a band of +/- 1 percent around the mid point set daily. 
The dongs exchange rate against other currencies is not restricted by a 
band. Interbank offered rates are the latest indicative bid/ask prices, quoted 
from market sources. 
One tael is equivalent to 37.5 grams or 1.21 troy ounces. SJC gold prices 
are quoted by state-owned Saigon Jewelry Co. 
For more interbank rate fixings released at 0400 GMT, click on VNIBOR . 
For Vietnam market overview click on: VNDVIEW 
Vietnams bonds market auctions: HNGBAUCSCH01 
Bonds auction results: HNGBAUCRES01 

(Compiled by Hanoi Newsroom) 
((hanoi.newsroom@thomsonreuters.com; +844 3825 9623)) 

Keywords: MARKETS VIETNAM/RATES