Posted December 1st, 2010 by Charles Purdy
USD/GBP Rate & Comments for 1st December 2010
US$/GBP – 1.5623
Sterling climbed against the euro yesterday as concerns over sovereign debt in the euro zone continued to hamper the single currency. As a result, sterling broke the €1.19/ £1 barrier for the first time in around 2 months. The risk aversion that saw investors pull out of the single currency and into sterling also saw sterling lose ground against the US dollar, with sterling dropping to $1.5480/£1 for a time before levelling out at the $1.5530/£1 mark. The sterling/ US dollar rate is a real indicator of investors’ feelings towards risk and with Commerzbank forecasting a return to $1.52/£1 today in the short term, it is a far cry from the giddy heights of $1.6290/£1 that we saw on Bonfire night – just a few weeks ago. This kind of volatility demonstrates why you should be in touch to discuss forward contracts to protect against this kind of movement.
In the USA, the US dollar continued to attract demand from risk adverse investors yesterday. The currency has been the ‘safe haven’ for those investors looking to avoid losses, with most buying US government bonds – traditionally one of the safest (but consequentially lowest yielding) investments globally. US data was positive yesterday, with consumer confidence and purchasing data both beating expectations. Out today, there is a wide range of data being released so call in now for a live price.
Topic: Bank of England, Currency Exchange, Currency Rates, best US dollar prices, charles purdy
Posted September 2nd, 2010 by Charles Purdy
USD/GBP Rate & Comments for 2nd September 2010 USD/GBP – 1.540 Sterling hit a 3 week low against the euro yesterday after UK purchasing manager data came in sharply lower than was expected. The survey asks business purchasing managers whether they have bought more or less this month, and is a key indicator of business Continue Reading…
Topic: Bank of England, Currency Exchange, Currency Rates, Pound, Rates, Smart Currency Exchange, Sterling, UK economy, US Dollar, US economy, USD, exchange rates
Posted September 1st, 2010 by Charles Purdy
USD/GBP Rate & Comments for 1st September 2010 USD/GBP – 1.540 Sterling fell across the board on Tuesday as concerns over the global economy sent jitters through financial markets. Sterling dropped to a 5 week low of $1.5327/£1 – breaking through the 200 day ‘moving average’ which means there is likely to be further downward Continue Reading…
Topic: Bank of England, Currency Rates, Pound, Rates, Smart Currency Exchange, Sterling, UK economy, US Dollar, US economy, USD, exchange rates
Posted August 31st, 2010 by Charles Purdy
USD/GBP Rate & Comments for 31st August 2010 USD/GBP – 1.542 Sterling’s movement last week was dictated by risk sentiment as sterling suffered on increased risk aversion at the start of the week but benefitted towards the end of the week due to gains in global stock markets. UK quarterly growth was revised upwards which Continue Reading…
Topic: Bank of England, Currency Exchange, Currency Rates, Rates, Smart Currency Exchange, Sterling, UK economy, US Dollar, US economy, US stock markets, USD, exchange rates, stock market
Posted August 27th, 2010 by Charles Purdy
USD/GBP Rate & Comments for 27th August 2010 USD/GBP – 1.552 Sterling benefitted from improved risk sentiment as gains in stock markets gave investors the confidence to seek higher returns elsewhere. Sterling reached $1.5545/£1 against the US dollar as the FTSE 100 gained 1% through the day. Today sees the release of GDP data in Continue Reading…
Topic: Bank of England, Currency Exchange, Currency Rates, Pound, Rates, Smart Currency Exchange, Sterling, US Dollar, US economy, USD, exchange rates, strong sterling
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