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Posted April 23rd, 2010 by Charles Purdy

USD/GBP Rate & Comments for 23rd April 2010

USD/GBP – 1.538

Sterling hit a 12 week high of 1.1583/ £1 against the euro yesterday and has briefly broken through the 1.16/ £1 this morning – buoyed by better than expected data on UK public finances and euro weakness related to the Greek debt crisis. UK public sector borrowing was better than expected, despite the fact that the UK’s deficit is the highest since World War II. Retail sales data came in slightly worse than expected at 0.4% on an expectation of 0.6%, but had little effect on the pound. With political uncertainty still rife in the run up to the May 6th election, all eyes were on last night’s second prime ministerial debate. The debate was a lot more evenly matched and initial polls had David Cameron as the winner of the debate. Out today we have the first estimate of GDP data, which is expected to show that the UK economy grew at a rate of 0.4% in the 1st Quarter. This week demonstrates why it is so important to be registered with a currency specialist. We saw the pound jump up by half a cent over the course of 15 minutes before dropping back down shortly after. Registered clients were able to take advantage straight away rather than trying to set up an account, which by the time it was open was too late to get the price they wanted. Call in today for a price and to talk to a currency specialist about how to avoid losing out on favourable rates.

In the USA, the number of people claiming unemployment benefits dropped by 24,000 – about 4,000 short of what was expected. This saw the US dollar strengthen marginally against the pound, finishing the day 0.2% up at $1.5370/ £1. Following the events in the Euro zone the US dollar strengthened 0.6% and finished the day close to the $1.33/ £1 mark. Out today, there is data on durable goods orders and new home sales. Call in now to avoid the market adversely moving against you. Have a fantastic weekend in the sunshine (hopefully…)

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Posted April 22nd, 2010 by Charles Purdy

USD/GBP Rate & Comments for 22nd April 2010USD/GBP – 1.543 Sterling hit a 2 month high against the euro as the number of people claiming unemployment benefits dropped sharply for the second month running. Sterling hit 1.1512/ £1 against the euro as the claimant count dropped by 32,900 – the sharpest drop since June 1997.  Continue Reading…

Posted April 21st, 2010 by Charles Purdy

USD/GBP Rate & Comments for 21st April 2010 USD/GBP – 1.538 Sterling rose yesterday as inflation rose more than expected. Consumer prices rose 3.4% on the year against an expectation of 3.2% and retail prices rose by 4.4% against an expectation of 4.1%. This unexpected jump fuelled speculation that the Bank of England may look  Continue Reading…

Posted April 20th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 20th April 2010 USD/GBP – 1.538 Sterling fell by 0.6% against the US dollar yesterday reaching a low of $1.5194/ £1 – the lowest since April 8th. The pound’s fall was further fallout from last week’s first televised election debate. The markets were yet again left reeling by the prospect  Continue Reading…

Posted April 19th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 19th April 2010 USD/GBP – 1.524 Sterling fell towards the end of last week following the first Prime Ministerial election debate, as the strong performance by Nick Clegg raised the prospect that neither Labour nor the Conservatives would gain an outright majority at the election. Fifty one percent of respondents  Continue Reading…

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