Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted February 26th, 2010 by Charles Purdy

Currency Rates

US$/GBP – 1.529

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Sterling had a poor day yesterday on weak data and growing concerns that the Bank of England could expand Quantitative Easing further. In addition, poor US unemployment data caused investors to move to the safe haven dollar on risk aversion. The pound dropped to a 9 month low against the US dollar and a 6 week low against the euro. Weaker than expected data showed a 5.8% drop in business investment in the 4th Quarter and added to the negative sentiment created this week by key members of the Bank of England who alluded to pumping more money into the economy. This dented hopes of an upgrade to the UK’s updated 4th Quarter GDP figures which are released this morning. There has been talk of an upgrade from 0.1% to 0.2% growth, however following yesterday’s poor data there is as much of a possibility that this figure will show that the economy shrank. There is growing concern that the UK’s recovery is faltering. A survey of house prices this morning showed that prices dropped by 1% from last month. This week has seen concerns grow over the state of the UK’s recovery and sterling has dropped considerably. There is a high risk of volatility today which could see the price of sterling move either way. Get in touch now to avoid losing out.

In the USA, the number of new claims for unemployment insurance rose by 30,000 more than expected sparking concerns over global recovery. This caused the US dollar to strengthen further against sterling. With recent data also disappointing, investors are concerned that the recovery is very fragile. US 4th Quarter GDP figures are expected to be revised down slightly to 5.5%. Many are expecting growth to slow in the US in the first 3 months of 2010. Get in touch now to avoid sterling dropping further against the US dollar.

Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UKor fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Leave a Reply

Posted February 25th, 2010 by Charles Purdy

Currency Rates US$/GBP – 1.528 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx Sterling fell against euro yesterday as Bank of England Monetary Policy Committee member Adam Posen left the door open for further injections of emergency funding into the UK economy – despite putting the  Continue Reading…

Posted February 24th, 2010 by Charles Purdy

Currency Rates US$/GBP – 1.544 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx Sterling experienced a rollercoaster ride yesterday, as it moved sharply down and then recovered ground later in the day against the euro and US dollar. The initial drop yesterday morning was as a  Continue Reading…

Posted February 23rd, 2010 by Charles Purdy

US$/GBP – 1.544 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspxSterling remained close to a 9 month low against the US dollar and improved slightly against the euro yesterday as concerns mounted over the level of UK debt and the weak economy. With little fundamental data  Continue Reading…

Posted February 22nd, 2010 by Charles Purdy

US$/GBP – 1.546 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspxA series of weak UK data last week saw sterling fall to a 10 month low against the US dollar. Worse than expected unemployment data and the shock announcement of the first Public Sector deficit since  Continue Reading…

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus