USD/GBP Rate & Comments for 30th June 2010

USD/GBP – 1.503

Sterling hit a 19 month high against the euro yesterday as investors deserted the euro ahead of bank repayments to the European Central Bank. The pound hit 1.2380 as a key deadline looms on Thursday for the repayment of loans made to banks in the Euro zone. Sterling was also supported after the launch of a 30 year gilt (UK government bond) was received well by financial markets. Lending data released yesterday showed that net lending to individuals had increased to £1.5bn but final mortgage approvals fell slightly. Today, we have seen house price data show prices rise by a mediocre 0.1% month on month against an expectation of 0.3%. Despite the wave of positivity that has followed the budget, there are still several issues that need addressing in the UK, and these figures are showing that there is potential for another housing slump. Call in now to avoid missing out on the best rates.

In the USA, with a fairly quiet week so far on the economic calendar, the big news was that consumer confidence fell on the month. A lot of data in the US has suggested that the US recovery is stalling somewhat so a decline in confidence did not come as too much of a surprise. Out later today, there is ADP Non-Farm employment change – the precursor to the main Non-Farm Payroll data and a figure that gives a good indicator of Friday’s figure. Call in now for a live exchange rate and to ensure that you don’t miss out on the best price.

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USD/GBP Rate & Comments for 29th June 2010 USD/GBP – 1.505 Sterling had a strong day yesterday, climbing to a 1 ½ year high against the euro and a 7 week high against the US dollar. The pound jumped to 1.2250/ £1 and $1.5104/ £1 as the UK currency continued to benefit from last week’s  Continue Reading…

USD/GBP Rate & Comments for 28th June 2010 USD/GBP – 1.504 Sterling had a strong week last week as tough spending cuts announced in the emergency budget eased fears amongst investors that the UK would suffer a debt crisis akin to Greece or Spain. The pound hit a 19 month high of 1.22/ £1 and  Continue Reading…

USD/GBP Rate & Comments for 25th June 2010 USD/GBP – 1.492 Sterling extended gains yesterday and hit the highest level since November 2008 against the euro after renewed sovereign debt fears in Greece contrasted sharply with a new found optimism that the UK budget cuts will rein in the country’s record deficit. Following the new  Continue Reading…

USD/GBP Rate & Comments for 24th June 2010 USD/GBP – 1.495 Sterling hit a 6 week high against the US dollar of $1.4999/£1 after sentiment was given a large boost. Firstly, following the emergency budget on Tuesday, credit rating agency Moody’s stated that the UK will retain the AAA credit rating if it successfully implements  Continue Reading…