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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 UK economy – especially heading into the new year when growth can stall after Christmas. Sterling should however remain supported against the euro given the concerns over risks of contagion in the euro zone. Elsewhere this week, inflation fell and the number of new people claiming unemployment benefits fell significantly on last month. Call in now for a live exchange rate.

In the USA, stock markets fell for another day on Thursday as fears over the euro zone crisis causing a global liquidity crisis negated recent positive data showing a 7 month low for new jobless claims and an increase in permits for new homes. Many had felt that these positive signs were a sign that the US recovery was under way, but the gathering storm in Europe is a worrying sign for the global recovery. Ensure you take advantage of any volatility and speak to one of the traders today.

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