US$/GBP – 1.5902

Sterling suffered a setback as the Bank of England cut its growth forecasts and noted that events in the Euro zone increased risk of the UK economic recovery faltering. Not a surprise given events in the southern states of the euro zone and our dependency on the Euro zone as a trading partner. A bit like Canada being very dependent on the US economy. This has raised the spectre of further quantitative easing in the UK which is negative for sterling. One piece of good news was that unemployment had fallen. Call in now to find out the latest news and rates in these highly volatile times.

US industrial production increased 1.1% in April, the strongest months growth since December 2010. Hopefully this positive data will feed through to the employment figures especially as it is expected to continue. Housing starts also increased on an annualised basis by 2.6% which is another positive. So in comparison to the UK and Europe the US economy is moving forward which together with the US$’s safe haven status is supportive of the US$. For the latest rate get in contact now.

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US$/GBP – 1.5964 Sterling had a mixed day today weakening off against the majority of currencies in the morning before strengthening against most in the afternoon. Data out yesterday revealed that the UK posted a slightly larger trade deficit than anticipated. The Bank of England inflation report will be the main focus today as investors  Continue Reading…

US$/GBP – 1.6102 Sterling broke through more resistance yesterday hitting 1.2550 against the euro and strengthened against the majority of other currencies. Trade balance data is the main release on the agenda as the world looks to Europe and the US for influence. Call in now for the latest news and a live quote. The  Continue Reading…

US$/GBP – 1.607 Sterling briefly broke through the 1.2500 level against the euro on Friday morning; before weakening off against the majority of currencies as Nationwide consumer confidence figures released were worse than expected and the change in the price of goods and raw materials purchased by manufacturers dropped by a lot more than anticipated.  Continue Reading…

US$/GBP – 1.6115 Sterling hit new highs of 1.2495 against the euro this week, challenging the psychological ceiling of 1.25 as fears surrounding the Eurozone dominated the global markets. The main data released out of the UK this week was the Bank of England’s decision to keep interest rates and the asset purchase facility unchanged.  Continue Reading…