Agenda item

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

Philip Williams stated that sterling was strong against the euro and the yen, but the dollar was stronger than sterling at present.

In response to a question from Councillor Carr about a possible change in the position of the sterling against the euro in Europe, Philip Williams advised that this was linked to concern in the Eurozone that economies would suffer deflation associated with depressed economies.

Resolved:

That the information given be noted.