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Posted April 30th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 30th April 2010

USD/GBP – 1.537

Sterling gained against the dollar and crept back against the euro as European officials stated that additional aid for Greece would be agreed soon. Sterling is trading at $1.5360/ £1 and 11.1560/£1. The prospect of an agreement on Greek aid helped stabilise market fears over debt default in the euro region. Polls soon after last night’s final prime ministerial debate saw David Cameron emerge as the ‘winner’ of the debate, but concerns remain over a hung parliament as none of the parties have a clear majority. A poll of economists showed a 60% probability of a hung parliament – much higher than a month ago. Also yesterday, a Nationwide house price survey showed prices rise by 1.0%, which was slightly higher than expected. Yet again there is no data out today in the UK, but the pound is still likely to trade on sentiment in the final few days of campaigning. Get in touch now for a live price.

In the USA, unemployment claims for the month grew by 6,000 more than expected however the focus is on today’s market data. Out later we have the US first quarter GDP figures which are expected to show a rise of 4% as confidence has grown and economic data has improved. There is a lot of volatility in the market, so get in touch now for a live exchange rate.

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