Posted December 10th, 2010 by Charles Purdy
USD/GBP Rate & Comments for 10th December 2010
US$/GBP – 1.5804
Sterling slipped against the US dollar yesterday after worries over the single currency and euro zone debt crisis brought the pound down against a stronger US dollar. There was no reaction from sterling prices as the Bank of England kept interest rates and monetary policy on hold. Whilst this was widely expected, it was a credit rating downgrade in Ireland that dented sterling. Rating agency Fitch downgraded the credit rating of Ireland after they recently secured an 85bn euro bailout. The UK economy relies heavily upon the euro zone as a trading partner and as a result, issues in the region can impact prospects for the UK recovery. Sterling was not helped by details that showed that house prices fell 0.1% in the last month. Out later today, there is production data which could have a significant effect on sterling pricing.
In the USA, a larger than expected decline in the number of claims for unemployment helped bolster the view that the economic recovery is gaining traction. The recent extension of tax breaks has left many expecting a growth boost as consumers and businesses spend additional disposable income. However, some analysts feel that this extension is de facto Quantitative Easing and will add to the deficit and cause more pain in the long term. In terms of data, today sees the US trade balance figures which could see some significant volatility – call in now and speak to one of the team to protect yourself.
Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
Topic: Currency Exchange, Currency Rates, best US dollar prices, charles purdy
Posted December 2nd, 2010 by Charles Purdy
USD/GBP Rate & Comments for 2nd December 2010
US$/GBP – 1.5607 Sterling slipped against a slightly stronger euro yesterday after investors held back on selling the single currency ahead of today’s European Central Bank interest rate policy meeting. Earlier in the day, sterling stopped just shy of the €1.20/£1 mark, hitting €1.1995/£1 as purchasing manager data for the UK manufacturing sector came in Continue Reading…
Topic: Currency Exchange, best US dollar prices, charles purdy
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 Continue Reading…
Topic: Bank of England, Currency Exchange, Currency Rates, best US dollar prices, charles purdy
Posted August 12th, 2010 by Charles Purdy
USD/GBP Rate & Comments for 12th August 2010 USD/GBP – 1.569 Sterling dropped by nearly 1% against the US dollar yesterday after the Bank of England’s quarterly inflation report said that inflation would drop below the 2% target level in the next 2 years. In addition the Bank left the door wide open for further Continue Reading…
Topic: Bank of England, Currency Rates, Pound, Rates, Smart Currency Exchange, Sterling, UK economy, US Dollar, US economy, US stock markets, USD, best US dollar prices, emergency funding, strong sterling
Posted August 4th, 2010 by Charles Purdy
USD/GBP Rate & Comments for 4th August 2010 USD/GBP – 1.593 Sterling hit a new 6 month high against the US dollar yesterday after improved sentiment towards the UK and concerns over the state of the US recovery. The pound hit $1.5968/£1 at lunchtime yesterday, buoyed by robust bank earnings data and recent strong UK Continue Reading…
Topic: Currency Exchange, Currency Rates, Pound, Rates, Smart Currency Exchange, Sterling, UK economy, US Dollar, US dollar 6 month high, US economy, best US dollar prices, exchange rates
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