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Posted November 21st, 2011 by Charles Purdy

USD/GBP Rate & Comments for 21st November 2011

US$/GBP – 1.5698

Sterling strengthened against the US dollar on Friday as investors who had placed bets against sterling reversed them ahead of the weekend. In addition, there was speculation that the ECB would start lending to the IMF in order to bail out troubled European countries. Sterling slipped slightly against the euro as a result, but this was due to the fact that the pound has now become some what of a safe haven currency in the face of a growing crisis in the euro zone and as a result, sterling is likely to gain against the euro if investors become concerned. This week, we have the Bank of England’s meeting minutes and the 1st revision of 3rd Quarter GDP – both of which could cause significant volatility.  

It is a potentially big week in the USA, with the looming deadline of the so-called ‘super-committee’. This was a bi-partisan body set up in the wake of the debt ceiling debacle in August to agree a further $1.2trn of spending cuts in order to avoid automatic cuts in 2013. Given the fractious nature of US politics, if the talks do breakdown it could cause some issues in the markets yet again. There is preliminary GDP growth figures released later in the week so call in to ensure you don’t lose out.

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Posted November 21st, 2011 by Charles Purdy

USD/GBP Rate & Comments for 18th November 2011

US$/GBP – 1.5767  Sterling strengthened yesterday after stronger than expected retail sales figures provided some rare positive news on the UK economy. Figures showed that retail sales increased by 0.6% in October – beating expectations for a fall. Despite this rare piece of good news, many analysts feel there are still significant risks facing the  Continue Reading…

Posted November 17th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 17th November 2011

US$/GBP – 1.5756 UK unemployment continues to grow hitting 17 year highs as the private sector is unable to take up the slack from those being made unemployed in the public sector. Unemployment for the under 25’s is over 20%. We also had yesterday the Bank of England forecasts for the UK economy which reduced  Continue Reading…

Posted November 16th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 16th November 2011

US$/GBP – 1.5786 UK inflation data for October fell by 0.2% from the previous month. Trouble is at 5% it is still way above the Bank of England’s target rate of 2%. Expectation is that it will fall in the new year as last January’s VAT increases flow through. Problems in the euro bond market  Continue Reading…

Posted November 15th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 15th November 2011

US$/GBP – 1.5906 Sterling fell against the US dollar on Monday, mirroring the euro’s drop against the US currency as concerns over the euro zone’s huge debt problems continued to concern investors globally. Sterling – whilst a preferred option to the euro – is still seen as a riskier investment given the likelihood of further  Continue Reading…

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