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Posted November 23rd, 2010 by Charles Purdy

USD/GBP Rate & Comments for 23rd November 2010

US$/GBP – 1.5925

Sterling gained against the euro yesterday after the single currency lost early gains following the bailout as the country was plunged into political uncertainty. Despite the headline grabbing news, the financial markets were anticipating a bailout last week. Therefore, yesterday’s news did not see the volatility that might be expected with sterling creeping back over €1.17/£1 to hit a high of €1.1750/£1 so far this morning. Many analysts expect sterling to gain against the euro in the coming months as surprisingly strong UK data combined with the lower likelihood of further Quantitative Easing leaves the UK economy in a relatively resilient position. Out today there is mortgage approval data and later on Adam Posen (the sole advocate of further Quantitative Easing) speaks in Stockholm. Call in now for a live exchange rate.
 
In the USA, the market moving news so far today has been the reports coming through of artillery fire between North and South Korea. The prospect of war in the region has seen investors flock to the safe haven of US dollars and US Treasury bonds. Stock markets have also fallen globally as the combined effect of Ireland and the Korean exchange of fire has left investors with jitters. Out today there is the ‘Preliminary’ GDP figure for the 3rd Quarter – the first amendment of the latest figure. Any amendments up or down will have a large effect. Call in now for a live price. 

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Posted November 22nd, 2010 by Charles Purdy

USD/GBP Rate & Comments for 22nd November 2010

US$/GBP – 1.6044 Sterling fell against the euro on Friday, as anticipation over a potential Irish bailout helped the single currency. Sterling also slipped against the US dollar after China increased the capital reserve requirements for Banks. This saw concerns over potential tightening of policy in the country that could impact the wider global economy.  Continue Reading…

Posted November 19th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 19th November 2010

US$/GBP – 1.593 Sterling gained against the US dollar yesterday as positive retail sales figures and factory orders helped lift the pound back over $1.60/£1 but it struggled to hold above that level. Retail sales rose by 0.5% in October, recovering from the -0.2% fall the previous month. Data also showed that factory orders fell  Continue Reading…

Posted November 18th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 18th November 2010

US$/GBP – 1.593 Sterling edged up yesterday after an unexpected drop in the number of people claiming unemployment benefits and minutes from the Bank of England’s Monetary Policy Committee November meeting showed that the bank is still some way off implementing further Quantitative Easing. The figures showed that the number of people claiming unemployment benefit  Continue Reading…

Posted November 17th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 17th November 2010

US$/GBP – 1.586 Sterling fell sharply yesterday after Bank of England governor Mervyn King signalled that the Bank of England could launch a further programme of Quantitative Easing if needed. Earlier in the day, data showed that UK inflation came in higher than expected at 3.2%, which gave sterling a boost. However, governor King’s comments  Continue Reading…

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