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Posted November 30th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 30th November 2011

US$/GBP – 1.5522

Sterling stayed firm against the US dollar and strengthened above €1.17/£1 against the euro despite a particularly downbeat statement by the Chancellor in his autumn statement to parliament. Growth forecasts for 2012 were downgraded to 0.7% from an estimated 2.5% in March and the Office of Budget Responsibility expects the economy to contract by 0.1% in the 4th Quarter of this year. Poor data in past weeks has also cemented the gloomy outlook for the economy with retail sales dropping by the highest level for 2 ½ years in October as consumers cut back on spending with inflation holding at more than 5%.  Sterling recovered as most of the bad news was factored into the exchange rates. Call in now for a live exchange rate.
In the USA, a rebound in consumer confidence in November also gave investor risk appetite a boost and saw the US dollar weaken off from recent highs. Out later today there is pending home sales and building approvals figures – both key pieces of data in the assessment of the US recovery’s prospects. Call in now to ensure you take advantage of any rate movements. 

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Posted November 29th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 29th November 2011

US$/GBP – 1.5490 Sterling recovered from a 7 week low against the US dollar on Monday as risk appetite improved across global markets. Rumours that European leaders were pushing towards more radical action on the euro zone crisis sparked by reports that the IMF was preparing an aid package for Italy saw a surge in  Continue Reading…

Posted November 28th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 28th November 2011

US$/GBP – 1.5546 Sterling strengthened from a 7 week low against the US dollar last week as risk appetite improved on Friday. Sterling held its ground against the euro as well. The big event of the coming week is set to be the Chancellor’s autumn statement, released tomorrow. We are likely to see George Osborne  Continue Reading…

Posted November 23rd, 2011 by Charles Purdy

USD/GBP Rate & Comments for 23rd November 2011

US$/GBP – 1.5598 Sterling fell to a 6 week low against the US dollar yesterday as riskier currencies became hampered by the failure of US politicians to reach agreement on spending cuts and concerns over the European debt crisis continued to wreak havoc. Whilst the pound did start to recover, it also hit a 3  Continue Reading…

Posted November 22nd, 2011 by Charles Purdy

USD/GBP Rate & Comments for 22nd November 2011

US$/GBP – 1.5654 Sterling fell to the lowest level against the US dollar for 6 weeks yesterday as investors moved away from riskier assets, but sterling remained supported against the euro given concerns over euro zone stability. With a fragile UK economy and the Bank of England’s minutes release tomorrow that are expected to show  Continue Reading…

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