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Posted November 30th, 2012 by Charles Purdy

Smart Currency Rates and Comments 30th November 2012 – Euro getting stronger, call Smart to get the latest news

GBP/USD – 1.6046 (Last week: GBP/USD – 1.5958 )

Increased risk appetite seems to have driven the market over the last 24 hours as we have seen sterling weaken towards 1.23 against the euro and push over 1.60 against the US dollar. Over the course of the week, sterling has some ups and downs as the global focus on the situation with Greece and the looming fiscal cliff in the US has led to market uncertainty and volatility. The main news from the UK was the surprise decision that the Governor of the Bank of Canada Mark Carney would be taking over from Mervyn King in July 2013 as the Governor of the Bank of England. The revised GDP data released confirmed that the UK’s economy has excited the double-dip recession, with the revised figures matching the preliminary data showing GDP increased by 1% in the third quarter and this helped sterling to strengthen. Please call in to get a detailed update from your trader.

Over the last 24 hours we have seen increased risk appetite weaken the US dollar. During the week the US dollar had stayed fairly range bound. The increased risk appetite came as a result of GDP data coming out at 2.7%, slightly below expectations; but, showing a strong rise from last quarter’s 2% reading highlighting steady growth in the US economy. The number of homes pending sale came out much higher than market expectation; but the number of new homes actually sold fell slightly short of analyst’s predictions. Optimism that the so-called Fiscal cliff could be resolved created risk appetite in the market; but, comments from one of the House Speaker said that the President needed to “get serious” underlines the fragile nature of the situation. In addition, this week we have also seen positive data released in the form of an increase in the demand for durable goods throughout October and US consumer confidence reaching a four year high in November. Get in touch now to take advantage of the most up to date price.

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Posted November 29th, 2012 by Charles Purdy

Smart Currency Rates and Comments 29th November 2012 – Sterling in the doldrums

GBP/USD – 1.6020 Sterling struggled yesterday against the higher yielding currencies whilst staying relatively range bound against the US dollar and the euro.  Yesterday, one of the members of the Bank of England suggested that the central bank had not ruled out an increase in quantitative easing if it was necessary to boost the UK’s  Continue Reading…

Posted November 28th, 2012 by Charles Purdy

Smart Currency Rates and Comments 28th November 2012 – News on US economy health due today

GBP/USD – 1.6004 Yesterday showed that sometimes it is better to travel than arrive. Agreement was finally reached on releasing the next round of Greek bailout funds of €44 billion but the effect on the euro was somewhat muted. In fact sterling performed better against most of the other major currencies yesterday even recovering back  Continue Reading…

Posted November 27th, 2012 by Charles Purdy

Smart Currency Rates and Comments 27th November 2012 | A good day for Greece, will it be good for the dollar?

GBP/USD – 1.6042 Sterling weakened slightly yesterday, slipping to 1.2330 against the euro before recovering in the afternoon and remaining relatively range bound against the majority of currencies, although, following the overnight decision to release the bailout funds to Greece we have seen the US dollar weaken on increased risk appetite. The main announcement from  Continue Reading…

Posted November 26th, 2012 by Charles Purdy

Smart Currency Rates and Comments 26th November 2012 | Dollar climbs to 1.60 against sterling

GBP/USD – 1.6014 Sterling had a mixed day on Friday. It strengthened against the US dollar but weakened against the euro and commodity backed currencies as risk appetite drove the market. At one stage sterling even pushed down to 1.233 against the euro and with the possibility of further weakness we could see a push  Continue Reading…

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