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Posted March 31st, 2011 by Charles Purdy

USD/GBP Rate & Comments for 31st March 2011

US$/GBP – 1.6136 

Sterling recovered from Tuesday’s five month low against the euro and strengthened by 0.7% to hit a high of €1.1424/£1. It also made gains against the dollar hitting a daily high of $1.6083/£1 after data showed UK service sector activity grew at the fastest monthly pace in January since July 2002. In addition, sterling benefited as Bank of England policymaker Martin Weale declared that the bank should increase interest rates as there is a high risk that inflation will not return to its 2% target. House price figures from Nationwide are expected later today and are expected to show a small drop. Ensure you don’t miss out by speaking to a trader today.

The US Dollar stayed fairly flat yesterday. There is a high possibility that the dollar will remain supported throughout the week after a key Federal Reserve official said that the central bank may have to tighten monetary policy to avoid inflation. US ADP non-farm payroll (a key pre-cursor to Friday’s headline figures) came in slightly lower than expected but did not cause much movement. Today sees weekly unemployment figures, so ensure you are protected by calling in today.

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Posted March 30th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 30th March 2011

US$/GBP – 1.6036 Sterling fell to a 5 month low against the euro yesterday on expectations that UK interest rate rises would lag the euro zone. The pound also struggled to move off a 2 month low against the US dollar. UK data showed that 4th quarter GDP fell less than expected; with revised figures  Continue Reading…

Posted March 29th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 29th March 2011

US$/GBP – 1.6021 Sterling hit a 5 month low against the euro and a 2 month low against the US dollar, as investors pushed back their expectations of when the Bank of England would look to raise interest rates in the UK. Sterling dropped to a low of €1.1337/£1 in late afternoon trading and $1.5936/£1  Continue Reading…

Posted March 28th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 28th March 2011

US$/GBP – 1.5998 Sterling held around 2011 lows against the euro on Friday and was poised for further falls on concerns over UK economic growth and uncertainty about the timing of an interest rate hike by the Bank of England. Poor retail sales figures saw sterling extend losses that began with UK growth forecasts being  Continue Reading…

Posted March 25th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 25th March 2011

US$/GBP – 1.6121 Sterling fell to a 4 ½ month low against the euro as poor UK retail sales data raised concerns over a fragile economy and credit rating agency Moody’s warned that slower growth combined with spending cuts could make it harder for the government to rein in the deficit. Retail sales fell by  Continue Reading…

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