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Posted December 19th, 2012 by Charles Purdy

Smart Daily Currency Note | The US dollar continues to weaken

GBP/USD – 1.6268

It was a somewhat mixed day for sterling yesterday as risk appetite was the main driver in the market. Sterling was slightly down against the euro and Swiss franc, but renewed confidence that a deal would be struck regarding the so-called fiscal cliff in the US drove sterling towards a high point close to 1.627, its highest level since September against the dollar. A broad swathe of inflation data was released, most of which slipped below projections, however, the crucial consumer price index data came in at 2.7%, nearly half a present over the forecast figure, which gave some support to sterling as it decreased the likelihood of more monetary easing in the short term. Today’s financial news in the UK will be dominated by the release of the minutes from this month’s monetary policy committee meeting which some expect to deviate from the recent unanimous decisions on interest rates. If the market reaction to last week’s speech by the ECB president on changing interest rates is anything to go by, any change could see dramatic consequence. Get in touch now to find out which way sterling has moved. 

The fiscal cliff continued to dominate the economic landscape yesterday, as it seems it will do until a concrete resolution has been agreed upon. Negotiations between the President and the Speaker of the House continue with the Speaker suggesting that he will go to Plan "B" if need be. The last time the US dollar was this weak  we saw a rapid reversal in its fortunes, including a 10 cent reversal for sterling back in April/May this year as traders viewed sterling to be "overbought". Important construction data is released today could look to start such a reversal, but reaction will most likely be muted in the current uncertain landscape. Get in touch now to take advantage of the US dollar rate while it lasts.

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Posted December 18th, 2012 by Charles Purdy

Smart Daily Currency Note | Inflation data released today, how will it affect sterling?

GBP/USD – 1.6197 In a day that was quiet on data from the UK, sterling climbed gently against most of its major pairs reaching a two month high of 1.62 against the US dollar. Against the euro it stayed very close to 1.23 for most of the day. Today, however, is likely to see a  Continue Reading…

Posted December 17th, 2012 by Charles Purdy

Smart Daily Currency Note | US dollar continues to weaken across the board

GBP/USD – 1.6179 Sterling continued to have a split personality on Friday, managing to advance against several of its major trading peers, while losing ground against others. The release of strong German Services PMI data helped contribute to sterling losing further ground against its European partner, falling below 1.23 again. It was better news versus  Continue Reading…

Posted December 14th, 2012 by Charles Purdy

Smart Currency Rates and Comments 14th December 2012 – The euro finishes the week on a high

GBP/USD – 1.6128 A difficult week for sterling as it weakened off against the euro and the higher yielding currencies. It did strengthen against the US dollar and Japanese yen as risk appetite was a key driver in the market. A raft of better than expected employment data did help support sterling. Data released showed  Continue Reading…

Posted December 13th, 2012 by Charles Purdy

Smart Currency Rates and Comments 13th December 2012 – The Euro in the ascendancy again

GBP/USD – 1.6128 Markets seem to have forgotten about the threat of interest rate cuts in the euro zone as the euro had a good day. Sterling on the other hand had a mixed day yesterday, losing half a cent against the euro whilst reaching a 6 week high of 1.6170 against the US dollar  Continue Reading…

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