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Posted December 21st, 2010 by Charles Purdy

USD/GBP Rate & Comments for 21st December 2010

US$/GBP – 1.5543

Sterling gained against the euro yesterday as the single currency was hampered by euro zone debt crisis worries, but sterling’s gains were limited to 0.3% as concerns over the UK’s exposure to the crisis held the pound back. Overall price movement was limited as many investors stick to the sidelines until the first week of January and with the Bank of England reporting that UK banks will remain vulnerable to the European debt crisis into the new year, many traders are waiting until after the festive period to look at their options. Sterling vs euro is likely to suffer over fears of exposure, so it is one of the big issues to keep an eye on heading into 2011. The Confederation of British Industry cut its UK growth forecast for the first quarter of next year to 0.2%. It seems that sterling will have a tough start to the year, so ensure you speak to one of the team sooner rather than later to ensure you do not lose out.

In the USA, it was a very quiet day for data releases and today is no different. Most movement has come from trading related to concerns over the eurozone debt. This saw the traditional ‘flight to safety’ with investors buying US dollars as a safe haven asset. In addition, with the S&P 500 stock market up 5% on the month, traders were hesitant to buy stocks ahead of a potential correction. Released today, there is potentially a report from the US Treasury on currency, which could see some movement so call in now for a live exchange rate.  

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Posted December 20th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 20th December 2010

US$/GBP – 1.5551 Sterling hit a 3 month low against the US dollar on Friday after Lloyds Banking Group warned that it was making further provisions for losses on Irish debt that it is exposed to. This exacerbated concerns over the UK’s exposure to Ireland’s debt crisis and saw investors selling sterling. UK consumer confidence  Continue Reading…

Posted December 17th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 17th December 2010

US$/GBP – 1.5622 Sterling climbed against the US dollar and euro yesterday after UK retail sales data for October was revised upwards and inflation expectations continued to rise. November retail figures came in slightly lower than was expected, but consumer inflation expectations showed that many expect nearly 4% inflation in the coming months. Having dropped  Continue Reading…

Posted December 16th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 16th December 2010

US$/GBP – 1.5577 Sterling fell to a 12 day low against the US dollar yesterday after UK jobs data came in much weaker than expected. Many felt that this drop points towards a shaky recovery in the coming months, and with uncertainty over the impact of a 2.5% VAT hike and austerity measures, many investors  Continue Reading…

Posted December 15th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 15th December 2010

US$/GBP – 1.5753 Sterling dropped from 3 week highs against the US dollar yesterday after strong US figures helped boost the US dollar. UK inflation came in at 3.3% – the highest for 6 months – and the 11th consecutive month that it has been more than 1% higher than the Bank of England’s 2%  Continue Reading…

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