US$/GBP – 1.5921

An okay day for sterling yesterday holding its own or even gaining against some currencies. The UK Confederation of British Industry (CBI) figures showed that the level of consumer spending in the UK was much better than predicted climbing to an eight month high. Out today the main UK release is the Inflation Report and one of the members of the Bank of England is also speaking. Call in now for the latest update and the latest news.

In the US today, the markets were shocked by the poor durable goods data released; however, the consumer confidence figures were better than the markets had anticipated and have reached the highest level in a year. Preliminary GDP data is released out of the states today and following the announcement the Chairman of the Federal bank will testify providing further insight into the world’s largest economy. Call in now for the latest update and the latest news.

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US$/GBP – 1.5857 There was very little data out of the UK yesterday with sterling weakening against the commodity backed currencies as risk appetite drove the market and holding its own against the euro and the US$. The only significant data released today is the Confederation of British Industry (CBI) figures which will provide some  Continue Reading…

US$/GBP – 1.5862 Revised GDP data released on Friday confirmed that the UK economy shrank in the fourth quarter of 2012 underlining the sentiment that the road to recovery will be slow. The market expectation is that we will see slight growth next quarter meaning the UK will avoid a technical recession; however, there is  Continue Reading…

US$/GBP – 1.5740 This week has seen sterling weaken against the majority of currencies amid concerns that we could see further quantitative easing above the £50 billion announced at the start of February. The Bank of England’s minutes released this week showed that two of its members voted for the injection of £75 billion. On  Continue Reading…

US$/GBP – 1.5684 Sterling had a torrid day losing ground against the majority of currencies following the release of the Bank of England monetary policy committee meeting minutes. Sterling ended the day at a 2 month low against the euro and lost over a cent and a half against the dollar. The Bank of England’s  Continue Reading…