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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 quantitative easing and a clouded outlook for the recovery. It was a relatively quiet data for data, with most investors holding out for the Bank of England’s quarterly inflation report, released on Wednesday. Markets will be looking for any signs of further downside risks for sterling and some analysts expect the UK’s growth outlook to be cut. Employment and retail sales figures later in the week could also weigh on sterling’s prospects – call in now for a live exchange rate to avoid losing out due to adverse market movements.

In the USA, stock markets fell as investors became unnerved by the Italian bond auction and sought safer havens in alternative asset classes. US government bond prices rebounded as markets looked to them as a safe haven. With the Swiss franc and Japanese yen no longer a viable option for investors after government intervention, the US dollar has become the only real ‘go-to’ on this front.

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