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Posted January 24th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 24th January 2011

US$/GBP – 1.5951

Sterling finished slightly stronger against the US dollar on Friday after following the euro higher against the US currency. It was a volatile week for sterling after much higher than expected interest rates heightened expectations for a sooner than anticipated hike in UK interest rates. This saw sterling hit a high of $1.6060/£1, however a poor set of fundamental figures – including a 0.8% drop in retail sales for December on Friday – saw the sheen taken off analyst’s expectations for an interest rate rise. Retail sales were expected to fall as a result of December’s inclement weather, but not by as much as they did. It is a very important week for sterling, with preliminary GDP for the 4th Quarter of last year and the minutes from the most recent Bank of England meeting. The minutes will be very closely watched for any sign of a change in monetary policy so call in now for a live exchange rate. 

In the USA, it was a good week for data with the claimant count dropping and new home sales jumping unexpectedly. Fundamental figures have been improving, but the Federal Reserve is not expected to make any changes to current monetary policy. The Fed meets this week, and is expected to continue with its plan to buy $600bn of debt through until mid-2011. Aside from that, there is a wide array of data released this week so ensure you don’t lose out and speak to a trader now.

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Posted January 21st, 2011 by Charles Purdy

USD/GBP Rate & Comments for 21st January 2011

US$/GBP – 1.5917 Sterling has struggled yesterday as a survey by the Confederation of British Industry unexpectedly showed that orders dropped in January. Wednesday’s unemployment figures showed that 2.5m people are out of work (the highest since last spring) and the number of 16-24 yr olds out of work is at a record high of  Continue Reading…

Posted January 20th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 20th January 2011

US$/GBP – 1.5952 Sterling slipped yesterday against the euro and US dollar dropping from the highs seen on Tuesday after UK inflation came in much higher than expected. Jobless claims dropped by 4,100 in December against an expected rise of 1,500 but analysts were very weary of a poor labour market in the next few  Continue Reading…

Posted January 19th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 19th January 2011

US$/GBP – 1.6015 Sterling surged to an 8 week high of $1.6060/£1 against the US dollar and came within touching distance of €1.20/£1 yesterday after December’s Consumer Price Inflation (CPI) data came in much higher than was initially expected. Higher oil prices drove CPI to an 8-month high of 3.7% analysts expecting around 3.3%. This  Continue Reading…

Posted January 18th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 18th January 2011

US$/GBP – 1.5971 Sterling jumped to an 8 week high against the US dollar and moved up against the euro after speculation that the Bank of England could raise interest rates as early as May. Sterling hit $1.5953/£1 and €1.1974/£1 as traders speculated that tomorrow’s Consumer Price Inflation could show inflation close to 4% –  Continue Reading…

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