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Posted May 28th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 28th May 2010

USD/GBP – 1.452

Its all about risk at the moment and whether you are risk adverse or you have risk appetite. Last week was definitely a week where risk aversion was to the fore and the US$ given its safe haven status in the ascendancy. The second half of this week has seen risk appetite return. The result of this was that we have seen sterling appreciate even though the economic data has been less than supportive for sterling. Yesterday we had retail sales for May released which were below expectations and the poorest for a while. Bad weather was given as the reason but you are left to wonder if there is a different underlying problem. So even though we hit 1.18 interbank yesterday there is no conviction that sterling will keep on going or suddenly go into fast reverse. Volatility continues to high, movements somewhat random and when they happen quick and large so that is why it is so important to get in touch now.

The US$ continues to be the least ugly of the ugly sisters and somehow convincing the market it is a safe haven asset. We have seen sterling gain some ground on increased risk appetite pulling back to over US$1.45/£1 first thing this morning but the market is still believing that sterling will weaken further. And the US does seem to be ahead of the curve with economic data being broadly positive. So don’t miss out on short term buying opportunities and give us a call now.

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Posted May 27th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 27th May 2010 USD/GBP – 1.445 Sterling had a strong day against the euro yesterday as investors sold the single currency on concerns that Europe’s debt problems were far worse than the UK. The pound rose 1% to hit a 2 week high of 1.1808/ £1 in afternoon trading. With  Continue Reading…

Posted May 26th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 26th May 2010 USD/GBP – 1.440 Sterling fell by 1% yesterday against the US dollar as investors continued to suffer from risk aversion. At one point the pound hit $1.4250/ £1 but recovered slightly towards the end of the day. Sterling performed well against the euro, breaching 1.17/ £1 before  Continue Reading…

Posted May 25th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 25th May 2010 USD/GBP – 1.428 Sterling gained over 1% against the euro yesterday and fell against the US dollar. The pound hit a high of 1.1646/ £1 and fell to a daily low of $1.4353/ £1 before pulling back ground towards $1.4430/ £1. The strength against the euro was  Continue Reading…

Posted May 24th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 24th May 2010USD/GBP – 1.441 Sterling recovered on Friday after a volatile week on the currency markets. With last week’s trading dominated by risk aversion related to Greece, the move by Angela Merkel to ban ‘naked short selling’ (selling assets that are not owned in order to profit from their  Continue Reading…

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