Agenda item

Consideration was given to graphs showing movements of the major currencies against sterling (for copy see file of Minutes).

In response to a question from Councillor Carr, Philip Williams advised that  the dollar and yen were currently weak in comparison to all other major currencies, however the euro had improved over the year. Yields on Government Bonds in Europe had all come down, even in Greece, and as Europe was gradually coming out of recession the outlook was improving, although unemployment in Italy and Spain remained a huge problem.

Resolved:

That the information given be noted.