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Posted May 31st, 2011 by Charles Purdy

USD/GBP Rate & Comments for 31st May 2011

US$/GBP – 1.6455

Sterling finished last week on a high, gaining against a weaker US dollar as US data disappointed. Sterling therefore starts the week over $1.65/£1 against the US dollar, but this is more the pound tracking euro strength against the dollar. With a long weekend in both the UK and USA, data is thin on the ground today. However, there is a wide range of data on the manufacturing, construction and services sectors later in the week. These figures are closely watched to give a picture of UK economic activity so any significant moves will have an impact on sterling and sterling’s prospects. Call in now for a live exchange rate.

In the USA, the US dollar slipped against a basket of currencies to the lowest level in 3 weeks, having fallen towards the end of last week after poor data dented the outlook for the US currency. With a recovery from the euro off the back of positive moves on Greece, the US dollar is not an attractive prospect for many investors. Later this week we have manufacturing and employment figures that are likely to cement the view that the US recovery will remain sluggish for now.

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Posted May 27th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 27th May 2011

US$/GBP – 1.6455 Sterling ended the week on a high, hitting a 2 ½ month high against the euro as investors speculated that Europe may be expected to extend further aid to help Greece. The pound pushed through the €1.16/£1 barrier – the highest since mid-March – boosted by Asian demand and comments from Eurogroup  Continue Reading…

Posted May 26th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 26th May 2011

US$/GBP – 1.6305 Sterling strengthened for a second day against the US dollar as data showed that U.K. exports helped the economy resume growth in the first quarter, outweighing the biggest slump in consumer spending in almost two years. Sterling also gained against the euro, breaking beyond €1.15/£1 against the single currency as euro weakness  Continue Reading…

Posted May 25th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 24th May 2011

US$/GBP – 1.6145 Sterling gained by 0.5% against the US dollar yesterday morning, recovering from an earlier 7 week low that was hit after investors speculated over the scope and extent of a potential downgrade of UK banks by rating agency Moody’s. Many investors covered short positions in order to avoid the volatility of a  Continue Reading…

Posted May 24th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 23rd May 2011

US$/GBP – 1.6145 Sterling starts the week slightly lower against the US dollar, having tracked the euro’s decline against the US currency over the weekend. Sterling is hovering just above the €1.15/£1 mark after concerns over the euro zone debt crisis pushed the single currency lower. The subsequent drop in risk appetite has seen demand  Continue Reading…

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