Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
  Daily Currency News Euro US Dollar Educational Articles  
Posted June 23rd, 2011 by Charles Purdy

USD/GBP Rate & Comments for 23rd June 2011

US$/GBP – 1.6057

Sterling fell against the euro yesterday, dropping below €1.12/£1 as the Bank of England minutes raised the possibility of further Quantitative Easing. The Bank kept interest rates on hold at 0.5% and felt that the growth outlook for the UK had weakened, raising the prospect of another round of stimulus in the same vein as the Federal Reserve’s recent “QE2”. As expected, the latest member of the committee (who took over from Andrew Sentance) decided not to follow his predecessor in voting for a rate hike and stuck with the crowd in voting for no change. Sterling’s prospects are closely linked to growth, with the Bank unlikely to increase rates until it has seen significant growth.. Sterling is likely to flounder against the euro – especially if the ECB presses ahead with its planned 0.25% interest rate hike next month. Call in now for a live exchange rate.

In the USA, the dollar dropped against a majority of its most-traded counterparts on speculation that the Federal Reserve would maintain monetary stimulus without buying more debt as economic growth remains sluggish. In the end, the Fed confirmed that it would make no change to its baseline interest rate and that the US recovery was continuing at a moderate pace. The central bank’s second round of quantitative easing, the purchase of $600 billion of Treasuries, is scheduled to end this month.

For individual requirements, visit the website and for companies visit the website 

Leave a Reply

Posted June 22nd, 2011 by Charles Purdy

USD/GBP Rate & Comments for 22nd June 2011

US$/GBP – 1.6233 Sterling dropped sharply against the euro yesterday after key Bank of England policymaker Paul Fisher signalled that the UK could be in for further Quantitative Easing if deflationary pressures mount. With recent UK data underperforming, analysts have pushed back expectations of an interest rate hike in the UK well into next year.  Continue Reading…

Posted June 21st, 2011 by Charles Purdy

USD/GBP Rate & Comments for 21st June 2011

US$/GBP – 1.6230 Sterling slipped against the US dollar as investor sentiment plunged as European governments failed to agree on releasing a loan payment to Greece. However, sterling did recover later in the day after comments from a top euro zone policy maker helped calm immediate fears over stability in the region. Financial markets were  Continue Reading…

Posted June 20th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 20th June 2011

US$/GBP – 1.6139 Sterling had a subdued end to the week following weaker than expected retail sales figures and the “dovish” (i.e. not keen to tighten monetary policy) stance of Bank of England governor Mervyn King at a key speech last week. With no key data released today, markets are likely to focus on the  Continue Reading…

Posted June 17th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 17th June 2011

US$/GBP – 1.6120 Sterling fell against the US dollar on Thursday after figures were released that showed UK retail sales fell by more than expected, adding further weight to calls for the Bank of England to keep interest rates on hold. Higher fuel costs and ongoing uncertainty over employment prospects kept consumer spending in check.  Continue Reading…

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus