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Posted October 24th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 24th October 2011

US$/GBP – 1.5942

Sterling strengthened to a 6 week high against the US dollar this morning as it tracked optimism that a deal would soon be reached to solve the European debt crisis. The weekend’s meetings of European officials (which had already been delayed by a week and was supposed to deliver a comprehensive solution by yesterday) has been met with cautious optimism by the markets, despite bickering and the postponement of the main announcement. Prime Minister David Cameron had issued a stark warning that the crisis was having a “chilling effect” on growth. In terms of data, it is a relatively quiet week with UK current account figures being the biggest event tomorrow. In addition, a number of policymakers from the Bank of England are making speeches which are likely to be followed closely.  

In the USA, the US dollar has come under pressure over the last few days as reports suggested that the Federal Reserve was preparing for a new round of Quantitative Easing and optimism over a potential debt deal for the euro zone built. This week we have consumer confidence, new home sales and advance GDP figures so call in now to ensure you don’t lose out.

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Posted October 21st, 2011 by Charles Purdy

USD/GBP Rate & Comments for 21st October 2011

US$/GBP – 1.5771 Sterling fell after an earlier rally against the US dollar yesterday, but gained against the euro after investors questioned how much progress would be made in the European debt crisis over the weekend. Sterling got an earlier boost against the US dollar as an unexpected jump in retail sales in the UK  Continue Reading…

Posted October 20th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 20th October 2011

  US$/GBP – 1.5708 Sterling hit a one month high against the US dollar yesterday, helped by improved investor sentiment towards riskier assets. However, the rally ran out of steam as sterling broke through $1.58/£1 and investors took profits. Sterling strengthened despite minutes from the recent Bank of England meeting that showed real concern about  Continue Reading…

Posted October 19th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 19th October 2011

US$/GBP – 1.5716 Sterling fell against the US dollar after UK annual inflation data broke above 5%, raising concerns over stagflation that saw many investors start to build bets against the pound. In addition, many expect today’s Bank of England minutes to be particularly negative after the extra £75bn of Quantitative Easing that was announced  Continue Reading…

Posted October 18th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 18th October 2011

US$/GBP – 1.5768 Sterling slipped against the US dollar but gained against the euro yesterday after comments from a German policymaker deflated investor optimism over a potential euro zone bailout. As a result, investors reversed the sell off of US dollars that began over the weekend following positive comments from G20 finance ministers regarding a  Continue Reading…

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