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Posted March 31st, 2010 by Charles Purdy

Currency Rates

US$/GBP – 1.509

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 strengthened yesterday after strong economic data saw demand for the pound surge. Sterling jumped over 1% against the euro to 1.1255/ £1 and hit a 1 ½ week high of $1.5125/ £1 against US dollar. The movement was spurred by the final 4th Quarter UK GDP figure which was revised upwards from 0.3% to 0.4%. In addition, the latest house prices survey showed that prices rose 0.7% month on month – more than the 0.2% rise that was initially expected. Data for the current account was also better than forecast, with the figures showing a deficit of £1.7bn as opposed to £4.6bn which was expected. This figure shows that whilst the UK is still a net importer, the weaker pound has encouraged exports as UK goods become relatively cheaper for foreign buyers. To put this into perspective, this deficit was at £11.4bn in September 2009, so it is clear the effect that the weak pound has had. Whilst the figures include reduced demand for overseas goods/ services, the data bodes well for the UK economy. In addition, another opinion poll suggested that the Conservatives had extended their lead heading into the election, helping to ease fears of a hung parliament. There is very little data out for the UK today – get in touch now to take advantage of relatively stronger prices.

In the USA, US consumer confidence jumped to 52.5 from 46.4 in February which beat expectations, however the economists that conducted the survey cautioned against reading too much into the figures, as the comparison month was particularly poor. Out today, there is unemployment data for the US which is expected to show that the labour market expanded by 40,000 for the month. Call in now to avoid the market moving against you.

Many clients have been enquiring about our opening hours over Easter. They are as follows:

Thursday 1st April: Open 08:00 – 18:00
Friday 2nd – Monday 5th April: Closed
Tuesday 6th April: Open 08:00 – 18:00

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

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Posted March 30th, 2010 by Charles Purdy

Currency RatesUS$/GBP – 1.505 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 rose slightly versus the US dollar on weaker demand for dollars as investors returned to riskier assets following the agreement last week to bail out Greece. UK Consumer credit was also relatively strong  Continue Reading…

Posted March 29th, 2010 by Charles Purdy

Currency RatesUS$/GBP – 1.501 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 finished the week broadly lower against the euro as a European Union agreement to help Greece strengthened the single currency on Friday. Following several weeks of uncertainty over the crisis, sterling strengthened against  Continue Reading…

Posted March 26th, 2010 by Charles Purdy

Currency Rates US$/GBP – 1.484 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 hit a 1 month high against the euro yesterday morning as UK retail sales data for February jumped 2.1% on the month, considerably more than the 0.7% that was forecast. As a  Continue Reading…

Posted March 25th, 2010 by Charles Purdy

Currency RatesUS$/GBP – 1.492 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspxSterling had a very volatile day yesterday, hitting 1.1220/ £1 in early trading before dropping back towards 1.1150/ £1. Against the US dollar, sterling dropped from above $1.50/ £1 to hit a 2 week low  Continue Reading…

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