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Posted August 31st, 2010 by Charles Purdy

USD/GBP Rate & Comments for 31st August 2010

USD/GBP – 1.542

Sterling’s movement last week was dictated by risk sentiment as sterling suffered on increased risk aversion at the start of the week but benefitted towards the end of the week due to gains in global stock markets. UK quarterly growth was revised upwards which is encouraging due to the fiscal consolidation which will take place. However a closer look at the figures revealed this revision was largely down to an 8.5% increase in construction output which will be very difficult to sustain for the remainder of 2010. This has seen many analysts argue that growth is very likely to slow later in the year. This week is a fairy quiet week for data in the UK. Call in now to speak to a trader about your risk management strategies.

The euro has been little changed overnight against sterling and the US dollar. German unemployment figures will headline the European economic calendar today, with expectations calling for jobless claims to fall 20,000. The unemployment rate is expected to remain unchanged at 7.6%. This is a further sign that the euro is being supported by the good performance of Germany whose export economy is benefitting from the Euros weakness against the US$. Call in now for a live exchange rate.

The US dollar continues to move with risk appetite after a series of negative data since the beginning of June. Today is a busy day in the US for economic releases with consumer confidence and the Federal Open Market Committee minutes for August released later tonight. Call in now to ensure you do not miss out on any favourable movements.

Elsewhere, the Bank of Japan has tried to address the recent appreciation of the Japanese Yen by expanding its special loan programme. In Australia retail sales and building approvals both showed better than expected figures overnight.

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Posted August 27th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 27th August 2010 USD/GBP – 1.552 Sterling benefitted from improved risk sentiment as gains in stock markets gave investors the confidence to seek higher returns elsewhere. Sterling reached $1.5545/£1 against the US dollar as the FTSE 100 gained 1% through the day. Today sees the release of GDP data in  Continue Reading…

Posted August 26th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 26th August 2010 USD/GBP – 1.553 Sterling had a fairly quiet day yesterday and remains range bound against the euro and US dollar. With trading volumes still low due to the holiday season any negative surprises could hit confidence in sterling and lead to larger movements than normal. Today sees  Continue Reading…

Posted August 25th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 25th August 2010 USD/GBP – 1.544 Yesterday sterling fell to a one month low against the US dollar and ended four days of gains against the euro over fears of a double-dip recession. Martin Weale, a Bank of England Official stated in the Times, “The UK faced a significant risk  Continue Reading…

Posted August 24th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 24th August 2010 USD/GBP – 1.538 Sterling hit a 2 month high against the euro yesterday reaching 1.2279/£1. This was short lived and this morning we have seen sterling lose ground against both the euro and the US$. Trading volumes in August are traditionally low which means that we can  Continue Reading…

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