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Posted August 31st, 2011 by Charles Purdy

USD/GBP Rate & Comments for 31st August 2011

US$/GBP – 1.6305

Sterling had a turbulent day yesterday hitting a low of €1.1267/£1. Sterling also depreciated against the US$. This was largely due to a decrease in the UK’s service sector activity over the last three months. Moreover, July consumer credit data showed an unexpected slow down in borrowing; alongside UK net mortgage lending remaining at a standstill. This data continues to demonstrate that economic recovery in the UK is far from robust. As a result, it makes the pound vulnerable and less appealing to investors. Out on Thursday is Nationwide House Prices data for August. Call in now for a quote.     

The US dollar fell to a session low versus the yen as consumer confidence in the US plunged in August, hitting the lowest point in almost two years. Due to this, Americans are becoming increasingly concerned with future job prospects- a sentiment similarly shared by President Obama who recently recruited a top labour economist to tackle the battle against the US’s high level of unemployment. U.S stocks also fell yesterday whilst another report demonstrated a fall in home prices for the second quarter. Out today is data for US Factory Orders in July. Call in now for a live exchange rate.   

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Posted August 30th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 30th August 2011

US$/GBP – 1.6372 Sterling depreciated 1.5% against the US$ and was the second worst performer after the Swiss franc. The pound hit a low of $1.623/£1 on Friday after Federal Reserve Chairman, Ben Bernanke failed to provide any direct indication that the U.S. economy would receive further liquidity. The pound also depreciated 1.4% versus the  Continue Reading…

Posted August 26th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 26th August 2011

US$/GBP – 1.6310  After a relatively good week for sterling, yesterday the pound weakened against many of its major counterparts. Sterling dropped 0.6% versus the US dollar in addition to falling for a third consecutive day against the euro. Much of this was fuelled by a drop in U.K. consumer confidence in July as well  Continue Reading…

Posted August 25th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 25th August 2011

US$/GBP – 1.6372 Sterling fell against the US dollar yesterday causing further loses as automatic ‘sell’ orders got triggered, hitting a low of $1.6375/ £1. The euro also climbed verses sterling by 0.5%. Investors suspect that sterling will struggle today and find direction only after Friday’s speech by Federal Reserve Chairman Ben Bernanke, in which  Continue Reading…

Posted August 24th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 24th August 2011

US$/GBP – 1.6503 Sterling strengthened by 0.4% against the US dollar yesterday hitting $1.6534/£1. Sterling was also helped by positive data that showed an improvement in British factory orders in August. Although this had minimal impact on the currency, had this come in lower, it is likely that it would have had a negative impact,  Continue Reading…

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