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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 of falling back into recession.” If risk aversion continues to weigh on the market, sterling could suffer further against the US dollar. Sterling will be dictated by risk trends today as there is limited economic data due for release. Call in now for a live exchange rate.

The US dollar has been well supported due to renewed risk aversion as financial markets continue to cope with the possibility that the economic recovery is running out of steam. There was further evidence yesterday that the US housing market is stalling as existing home sales were much weaker than expected at 3.83 million in July against a market expectation of 4.65 million. This was the worst figure for 15 years. Data on new home sales and durable goods orders are due for release today. Ensure you are taking advantage of the best prices by speaking to a trader today.

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