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Posted August 23rd, 2010 by Charles Purdy

USD/GBP Rate & Comments for 23rd August 2010

USD/GBP – 1.558

Last week was a strong one for sterling against the euro and this trend has continued this morning as it is trading at 1.2260/£1. During this past week, the Bank of England minutes for the month of August showed that the decision to keep interest rates unchanged was not unanimous for a third successive month as Andrew Sentance was once again the lone dissenter, calling for an increase of 25 basis points to 0.75 percent. Sterling was initially well supported after the Bank of England minutes as there was no talk about a further bout of quantitative easing. For this upcoming week broader risk trends will dictate sterling price action as sterling faces a light economic calendar. Call in now for a live exchange rate.

The US dollar rallied last week due to poor US data and losses on equity markets around the globe. The number of new claims for unemployment benefits unexpectedly jumped to 500,000. In addition, a key measure of manufacturing production showed a further than expected decline. As a result of this poor data, there are yet again concerns over the state of the US recovery and as such – the global recovery as a whole. With a stalling housing market and poor economic data expect this week’s trading to revolve around risk aversion as investors look to avoid unnecessary risks to their investments. There is little data out today – ensure you are taking advantage of the best prices by speaking to a trader today.

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Posted August 20th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 20th August 2010 USD/GBP – 1.552 Sterling recovered yesterday to jump more than a cent yesterday against the US dollar after far stronger than expected retail sales data boosted hopes that the UK economy can maintain positive momentum in the 3rd quarter. There was an expectation that sales would fall  Continue Reading…

Posted August 19th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 19th August 2010USD/GBP – 1.552Sterling recovered from 3 week lows against the US dollar after the Bank of England’s minutes from their most recent monetary policy meeting eased market speculation that the Bank would loosen monetary policy further. Sterling rose to hit a daily high of $1.5689/£1 after hitting $1.5498/£1  Continue Reading…

Posted August 18th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 18th August 2010 USD/GBP – 1.555 Sterling fell yesterday against the US dollar and euro yesterday after inflation data showed a slow down in UK price growth. Sterling hit a high of $1.57/£1 in early trading yesterday before a US bank sold a large amount of sterling, and in thin  Continue Reading…

Posted August 17th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 17th August 2010 USD/GBP – 1.565 Sterling reclaimed some of the ground lost against the US dollar last week, rising 0.4% yesterday to hit $1.5665/£1 after risk sentiment improved in trading yesterday. Against the euro, sterling slipped after house price data showed that the housing market had faltered in the  Continue Reading…

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