US$/GBP – 1.6314

Sterling strengthened against the euro yesterday, hitting a high of €1.1446/£1 on concerns over the sovereign debt crisis in Europe. However, data showed that British retail sales fell at their fastest pace in a year in July, with retailers expecting a further fall in August. It has been an interesting week in the UK. UK growth figures showed that the UK economy grew by a mere 0.2% in the previous quarter, however this was better than many expected so sterling actually gained against the euro and US dollar. The UK’s much maligned austerity measures actually helped make UK assets more attractive this week as the USA and Europe struggle with their respective debt burdens. Sterling may do quite well as a result… But maybe that’s just wishful thinking. Call in now for a live exchange rate.

It has been a turbulent week in the USA. Debate has been deadlocked in Congress over a package of spending cuts and tax rises that are needed before the self-imposed debt ceiling can be raised. Republicans and Democrats are at loggerheads over taxes, with what Vince Cable referred to as a group of “right wing nutters” in the Republican party refusing any package that increases taxes. This is a problem because the US government will run out of money to pay key bills on August 4th. Call in now for a live exchange rate.

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US$/GBP – 1.6320 Sterling slipped against the US dollar yesterday, falling off 2 month highs as data showed that UK factory orders declined more than estimated and manufacturer optimism dropped to the lowest level in 2 years. Sterling also fell against the euro as the figures boosted the case for the Bank of England to  Continue Reading…

US$/GBP – 1.6408 Sterling hit a 6 week high yesterday against a broadly weaker US dollar after UK GDP figures came in higher than expected investors dumped the US currency over fears of a US default. Data released yesterday morning showed that the UK economy grew by a mere 0.2% between April and June as  Continue Reading…

US$/GBP – 1.6337 Sterling came off a five-week high against the US dollar yesterday, with investors wary of UK data activity showing lower than expected figures this week. Investors said that sterling was overvalued above $1.63/£1 against the US dollar – especially if today’s GDP figures disappoint as many expect. Some analysts compared moves between  Continue Reading…

US$/GBP – 1.6307 Sterling performed well towards the end of last week against the US dollar as investors celebrated a second round bailout of Greece. The pound hit the highest levels against the US dollar since late May as investors backed the UK’s fiscal plan over Europe or the USA. Against the euro, sterling is  Continue Reading…