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Posted August 31st, 2012 by Charles Purdy

USD/GBP Rate & Comments for 31st August 2012

US$/GBP – 1.5781

Sterling stayed fairly range bound this week due to a lack of significant data released in the UK and because trade volumes remain low in the final week of the summer holidays. Overnight, consumer confidence figures were released and first thing this morning data showing the change is house prices was also announced. The summer doldrums have kept the markets relatively quiet this week; but, with so much uncertainty in Europe and the with the annual Jackson Hole symposium taking place in the US there is still the potential for a lot of volatility today. Call in now for the latest rates.

US dollar had a mixed week as preliminary GDP figures were released as expected showing that the economy grew by 1.7% whilst the previous quarters figure was also revised up to 1.7%. Other data released this week showed that consumer confidence figures had missed market estimates; but, the change in the number of homes pending sale increased by much more than anticipated. As has been the case for much of the week, the focus today remains firmly on the Chairman of the Federal Bank’s speech at the second day of the annual Jackson Hole symposium where he is expected to give further clarification on any monetary policy that may be implemented to stimulate growth. Get the latest news by calling in.

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Posted August 30th, 2012 by Charles Purdy

USD/GBP Rate & Comments for 30th August 2012

US$/GBP – 1.5828 Sterling had a strong day yesterday making gains against the majority of currencies, and in particular against the Polish zloty, Hungarian forint and Swedish krona despite the lack of any significant data released in the UK. Out today, we have the release of the monthly change in the net lending to individuals  Continue Reading…

Posted August 29th, 2012 by Charles Purdy

USD/GBP Rate & Comments for 29th August 2012

US$/GBP – 1.5802 Sterling had a mixed day yesterday weakening off to €1.2570/£1 as the markets continue to bet on the European Central Bank stepping in to stabilise Euro zone government borrowing costs by capping bond yields. With very little data on the UK’s economic agenda today, the expectation would be for volatility to remain  Continue Reading…

Posted August 28th, 2012 by Charles Purdy

USD/GBP Rate & Comments for 28th August 2012

US$/GBP – 1.5772 Sterling had a poor day on Friday as revised GDP figures came in as expected showing a marginal improvement from the preliminary figures which were revised from -0.7% to -0.5%. In other news, one of the members of the Bank of England suggested that in the event of further loosening in monetary  Continue Reading…

Posted August 24th, 2012 by Charles Purdy

USD/GBP Rate & Comments for 24th August 2012

US$/GBP 1.5856 Please note; due to the bank holiday in the UK on Monday 27th of August next week, Smart Currency Exchange and Smart Currency Business will not be open for trade. Business will resume as normal on Tuesday 28th. Sterling had a mixed week strengthening against the Canadian dollar and most notably against the  Continue Reading…

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