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Posted October 29th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 29th October 2010

US$/GBP – 1.591

Sterling had a poor start to the week on concerns over further Quantitative Easing that were hanging over the pound following last week’s relatively negative Bank of England minutes. This saw sterling hit a 7 month low of 1.1184/£1 against the euro on Monday. However, Tuesday’s GDP figures of 0.8% beat expectations and the UK credit rating outlook upgraded to “stable” from “negative” following spending review. Sterling hit highs of 1.1486/£1 and $1.5970/£1 on Thursday as a result of more positive sentiment towards the UK. This came despite figures showing that house prices fell by more than expected in the previous month and disappointing retail sales figures. Overall though, it was a good week for sterling as fears over further Quantitative Easing subsided. Call in now to speak to one of the traders about taking advantage of better exchange rates.

In the USA, the US dollar fell to a 10 week low against sterling this week despite a slight recovery midweek. The main issue for the US dollar has been the issue of further Quantitative Easing which is widely expected to be implemented next week. Many investors have been taking out extreme ‘short’ positions against the US dollar. This has helped other currencies hit highs and despite last week’s G20 summit discussions over “currency wars”, the US dollar is still hovering around 15 year lows against Japanese yen. This is the key issue this week, so ensure you speak to a trader to avoid any unexpected volatility unduly impacting your payments.

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Posted October 28th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 28th October 2010

US$/GBP – 1.578 Sterling slipped back against the US dollar on Wednesday after investors pulled out of bets against the US currency on uncertainty over the level of additional Quantitative Easing being added to the US economy by the Federal Reserve. However, sterling held firm above the 1.14/£1 hitting a high of 1.1475/£1 on the  Continue Reading…

Posted October 27th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 27th October 2010

US$/GBP – 1.581 Sterling jumped against the euro and US dollar yesterday after surprisingly positive UK GDP data for the 3rd Quarter and a welcome vote of confidence for the UK from credit rating agency S & P. GDP growth came in at 0.8% for the 3rd Quarter against an expectation of 0.4%, boosted by  Continue Reading…

Posted October 26th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 26th October 2010

US$/GBP – 1.578 Sterling fell to a 7 month low against the euro yesterday after being weighed down by the prospect that the UK economy might be in store for further Quantitative Easing by the Bank of England and mortgage approval figures disappointed. Sterling hit a low of 1.1184/£1 as financial markets begin to price  Continue Reading…

Posted October 25th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 25th October 2010

US$/GBP – 1.573 Sterling fell to a 7 month low against the euro on Friday after sterling stayed on the back foot after Bank of England minutes earlier in the week suggested that the UK economy might be in store for further Quantitative Easing. In early trading today, sterling has dropped even further against the  Continue Reading…

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