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Posted April 26th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 26th April 2010

USD/GBP – 1.546

Sterling had a very volatile week last week and despite the GDP figures coming in at 0.2% for the first quarter (0.2% less than expected), the pound has started the week strongly. Sterling is currently trading at $1.547/ £1 and 1.1560/ £1 – up around 0.6% against both currencies. Despite house prices growing at only 0.2% in April – the slowest rise in 3 months – the pound is up as a result of increased risk appetite following strong stock market performance overnight in Asia. Stock markets have been performing well as the first quarter ‘earnings season’ (when companies release earnings figures) has seen very strong results from many businesses, helping to fuel speculation that the recovery is fully underway. There is very little data out today, so sentiment will drive the market. Get in touch now for a price as we could see further volatility this week in the final days before the election.

In the USA, with no data out today, expect the markets to move on sentiment. Despite an election looming in the UK, sterling is at the best prices against the US dollar for almost 10 days. If you need to buy US dollars, it would seem advisable to take advantage of prices at this level as we could see a lot of movement in the next 2 weeks over the election. Call now for a live rate.

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