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Posted May 23rd, 2012 by Charles Purdy

USD/GBP Rate & Comments for 23rd May 2012

US$/GBP – 1.5742

Sterling came under pressure yesterday; but, recovered in the afternoon as the International Monetary Fund (IMF) said that the UK needs to consider injecting more money into the economy and potentially cutting interest rates to stimulate growth. Furthermore, data released in the UK showed that inflation has fallen to a two-year low, dropping from 3.5% to 3.0%. Both this month’s Monetary Policy Committee meeting minutes and monthly retail sales data are released today with the former potentially revealing the central banks intention to increase its accommodative monetary easing. If more members have voted for further quantitative easing than expected, then sterling could come under pressure today; so, call in now for the latest news and a live quote.

The US dollar performed well yesterday as risk aversion drove the markets due to the OECD and IMF announcements underlining a weak global economy. Existing home sales figures released yesterday came in above markets expectations recovering from last month’s decline. New home sales figures will be the main data on the agenda and investors will look for more positive data mirroring yesterday’s release; so, call in now for a live quote and the latest news. 

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Posted May 22nd, 2012 by Charles Purdy

USD/GBP Rate & Comments for 22nd May 2012

US$/GBP – 1.5823 Sterling was fairly range bound yesterday as very little data was released globally; but, weakened to a 2 week low against the euro. Consumer Price Index (CPI) figures released today will show the change in the price of goods and services purchased by consumers and are expected to show a drop from  Continue Reading…

Posted May 21st, 2012 by Charles Purdy

USD/GBP Rate & Comments for 21st May 2012

US$/GBP – 1.5803 Sterling strengthened against the commodity backed currencies on Friday; but, weakened off against the majority of others as one of the members of the Monetary Policy Committee suggested that further Quantitative Easing could be required to prop up the UK economy. Revised GDP data this week will show if the UK economy  Continue Reading…

Posted May 18th, 2012 by Charles Purdy

USD/GBP Rate & Comments for 18th May 2012

US$/GBP – 1.5771 Sterling hit fresh highs against the euro this week as the markets continued to speculate that Greece could soon leave the euro before weakening off against the majority of currencies yesterday. The Bank of England inflation report revealed a downgrade of its growth forecasts for the UK economy largely due to the  Continue Reading…

Posted May 17th, 2012 by Charles Purdy

USD/GBP Rate & Comments for 17th May 2012

US$/GBP – 1.5902 Sterling suffered a setback as the Bank of England cut its growth forecasts and noted that events in the Euro zone increased risk of the UK economic recovery faltering. Not a surprise given events in the southern states of the euro zone and our dependency on the Euro zone as a trading  Continue Reading…

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