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Posted June 14th, 2013 by Charles Purdy

US dollar under pressure | Smart Daily Currency Note

(Last week)     This week
(GBP/EUR – 1.1757)     GBP/EUR – 1.1761

On the whole an okay week for sterling. It held its own against the euro, lost a little bit of ground against the commodity backed currencies; albeit midweek it had made significant gains, and gained throughout the week against the US dollar. It seems to be more of a case of what is happening elsewhere than any key UK event. Worries over quantitative easing in the US and Japan are having a significant effect on emerging markets and also on stock markets. There is limited UK data released today so again it will be a case of influence from elsewhere. Call in now to see how sterling is faring today.

The euro underwhelmed yesterday; losing nearly a cent against both sterling and the US dollar after what has otherwise been a strong week. Ground was steadily lost through the day as sterling once again tested the 1.18 level, and the euro dropped back below 1.33 against the US dollar. Today is as quiet as yesterday on the news front; will no news be good news? Call your trader now to find out if anything can buck this recent trend.

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Posted June 13th, 2013 by Charles Purdy

UK employment data boosts sterling | Smart Daily Currency Note

GBP/EUR – 1.1711 A day of two halves for sterling yesterday, gaining nearly half a cent in the first two hours of trading as employment figures exceeded expectations. Markets reacted positively to the news, driving sterling briefly through the 1.18 mark against the euro. The momentum remained with sterling through the day against the US  Continue Reading…

Posted June 12th, 2013 by Charles Purdy

Sterling steady despite poor UK manufacturing data | Smart Daily Currency Note

GBP/EUR – 1.1757 A fairly steady day for sterling yesterday in spite of disappointing manufacturing figures in the morning which showed contraction of 0.2% after two months of growth. Ground lost to the euro was regained in the afternoon with sterling finishing the day very close to the point it started against the euro. There  Continue Reading…

Posted June 11th, 2013 by Charles Purdy

Sterling steady before UK manufacturing data | Smart Daily Currency Note

GBP/EUR – 1.1741 Having enjoyed a successful last few days, sterling traded slightly higher against the US dollar and slightly lower against the euro in what was a quiet start to the week for currency markets. There have been increasing signs that the British economy is recovering – not least due to rising house prices  Continue Reading…

Posted June 10th, 2013 by Charles Purdy

Will sterling maintain its positive outlook? | Smart Daily Currency Note

GBP/EUR – 1.1765 Sterling, having enjoyed a strong period last week following the release of positive figures across the manufacturing, construction and service sectors, weakened against the US dollar on Friday. Growing employment data from the United States forced the UK currency to retrace some of its gains from earlier in the week by around  Continue Reading…

Posted June 7th, 2013 by Charles Purdy

Sterling has a good week | Smart Daily Currency Note

(Last week)     This week (GBP/EUR – 1.1668)     GBP/EUR – 1.1757 Sterling has sailed upwards against most of its major counterparts this past week as Purchasing Managers Index figures exceeded expectations with the construction, manufacturing and now service sectors all expanding at better rates than expected. Yesterday the Bank of England opted  Continue Reading…

Posted June 6th, 2013 by Charles Purdy

Positive economic data supports sterling | Smart Daily Currency Note

GBP/EUR – 1.1769 Sterling sailed to a three-week and two-week high against the US dollar and euro respectively yesterday following the Purchasing Manager’s Index for the UK Services sector showing the fastest rate of expansion for over a year. The UK currency found gains in all its major pairings as the report also noted new  Continue Reading…

Posted June 5th, 2013 by Charles Purdy

Good construction data helps sterling hold steady | Smart Daily Currency Note

GBP/EUR – 1.1708 Sterling traded within a narrow range yesterday during a relatively quiet period for the global foreign exchange market. The UK currency performed strongly against an under pressure Australian dollar and held steady against the euro and US dollar after trading at a three-week high against its American counterpart on Monday. Sterling was  Continue Reading…

Posted June 4th, 2013 by Charles Purdy

Good manufacturing data boosts sterling | Smart Daily Currency Note

GBP/EUR - 1.1716 Sterling moved upwards to a three-week high against the dollar as better than expected UK manufacturing figures boosted the UK currency yesterday. The British Purchase Manager’s Index data emerged more positively than expected (at 51.3 instead of 50.2); the highest gauge of manufacturing activity in fourteen months. With the manufacturing expanding above estimates,  Continue Reading…

Posted June 3rd, 2013 by Charles Purdy

Busy week for sterling as Mervyn King says goodbye | Smart Daily Currency Note

GBP/EUR – 1.1706 Sterling held firm against the euro before the weekend; however, tumbled against the US dollar by over a cent following positive data released in the US. On Friday the Bank of England described that net lending to individuals had increased in April further than expected; rising to £1.4billion from £1.1billion the previous  Continue Reading…

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