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Posted January 24th, 2013 by Charles Purdy

A steady day for sterling yesterday | Smart Daily Currency Note

GBP/USD – 1.5832

Surprisingly yesterday turned out to be somewhat of a muted day for sterling, despite the release of key unemployment data and David Cameron’s much anticipated press speech regarding the UK’s current stance on EU membership. As had been widely expected, Cameron outlined his stance on a potential referendum in 2017, however support for continued membership remains strong across the continent, helping to minimise any detrimental effect UK-EU severance could have upon sterling. With the Monetary Policy Committee Meeting Minutes coming out as expected yesterday – no votes in favour of a change to interest rates and one member voting in favour of increasing the current the level of quantitative easing.  Out today we have the number of new mortgages approved and figures showing the relative level of current sales from a survey of retail and wholesale companies. Traders will now turn their focus to Friday’s fourth quarter GDP release which will give a clear insight into the current level of economic health in the UK. Call in now for the latest news and to get a live price from your trader.

It was another mixed day for the US dollar yesterday as price action took its lead from data released across Europe. Yesterday evening the House of Representative voted in favour of suspending the Debt ceiling limit until May 19 to avoid  a default in the short term. This bill now needs to get passed to the Senate for approval. Today sees the release of the weekly unemployment claims report which traders will pay close attention to as it shows the current labour-market conditions that are highly correlated with consumer spending and furthermore, significant due to the Federal Banks recent stance that monetary policy will remain ultra-loose until the labour sector recovers. Call in today for a live rate from your trader.

Get in touch now for a live price and to see if the US can avoid tumbling off the so-called fiscal cliff. For individual requirements, visit the website and for companies visit the website

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Posted January 23rd, 2013 by Charles Purdy

At best a steady day for sterling | Smart Daily Currency Note

GBP/USD – 1.5824 Sterling had a mixed day yesterday. It dropped below 1.1850 against the euro for the first time since February 2012 in the early morning but rallied throughout the day regaining most of the losses. It was the same story as the last few days as very poor manufacturing data continued to weigh  Continue Reading…

Posted January 22nd, 2013 by Charles Purdy

Sterling still has no friends and continues to weaken | Smart Daily Currency Note

GBP/USD – 1.5852 It was very much a mixed day for sterling yesterday, remaining distinctly range bound versus its major peers in the morning, before continuing last week’s trend and losing further ground later on in the day. Ever increasing speculation that the impending Monetary Policy Committee meeting minutes will reveal increased expectation of fourth-quarter  Continue Reading…

Posted January 21st, 2013 by Charles Purdy

No mates sterling continues to fall | Smart Daily Currency Note

GBP/USD – 1.5868 It was once more a disappointing day for sterling on Friday, losing further ground against most major currencies as weaker than forecast key retail sales data heaped further pressure on the already fragile UK economy. One of the biggest moves of the day came against the US dollar, where sterling fell to  Continue Reading…

Posted January 18th, 2013 by Charles Purdy

Smart Daily Currency Note | US dollar holds ground

GBP/USD – 1.5981 Yesterday proved once more to be a disappointing day for sterling as it crashed through the 1.20 level against the euro and continued to lose further ground versus its major peers. The damage of an increasingly pessimistic outlook for the UK economy further dampened demand for the British currency, whilst traders had  Continue Reading…

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