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Posted February 24th, 2012 by Charles Purdy

USD/GBP Rate & Comments for 24th February 2012

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 a more positive note, public sector net borrowing figures released at the start of the week suggest that the UK will beat its own targets to cut the national deficit this year. Out today the market will look towards the revised GDP data to provide some clarity on the state of the UK economy. Call in now for the latest update and the latest news.

In the US, there has not been a great deal of data released this week; however, the release of unemployment claims data yesterday showed that the number of individuals who filed for unemployment insurance for the first time during the past week was at the lowest since March 2008. Housing data released yesterday also beat estimates reaffirming that the recovery in the US is starting to pick up pace. Out today the main release out of the US is the new home sales figures. Call in now for the latest update and the latest news.

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