USD/GBP Rate & Comments for 10th December 2010
US$/GBP – 1.5804
Sterling slipped against the US dollar yesterday after worries over the single currency and euro zone debt crisis brought the pound down against a stronger US dollar. There was no reaction from sterling prices as the Bank of England kept interest rates and monetary policy on hold. Whilst this was widely expected, it was a credit rating downgrade in Ireland that dented sterling. Rating agency Fitch downgraded the credit rating of Ireland after they recently secured an 85bn euro bailout. The UK economy relies heavily upon the euro zone as a trading partner and as a result, issues in the region can impact prospects for the UK recovery. Sterling was not helped by details that showed that house prices fell 0.1% in the last month. Out later today, there is production data which could have a significant effect on sterling pricing.
In the USA, a larger than expected decline in the number of claims for unemployment helped bolster the view that the economic recovery is gaining traction. The recent extension of tax breaks has left many expecting a growth boost as consumers and businesses spend additional disposable income. However, some analysts feel that this extension is de facto Quantitative Easing and will add to the deficit and cause more pain in the long term. In terms of data, today sees the US trade balance figures which could see some significant volatility – call in now and speak to one of the team to protect yourself.
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Topic: Currency Exchange, Currency Rates, best US dollar prices, charles purdy
USD/GBP Rate & Comments for 9th December 2010
US$/GBP – 1.5806 Sterling hit a 2 week high against the US dollar yesterday after industrial order data showed that the UK recovery is gaining momentum. Sterling also saw some strength against the euro as concerns over the European debt crisis continued to blight the single currency. Sterling hit a high of $1.5834/£1 and Continue Reading…
Topic: Currency Exchange, Currency Rates, charles purdy
USD/GBP Rate & Comments for 2nd December 2010
US$/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
USD/GBP Rate & Comments for 1st December 2010
US$/GBP – 1.5623 Sterling climbed against the euro yesterday as concerns over sovereign debt in the euro zone continued to hamper the single currency. As a result, sterling broke the €1.19/ £1 barrier for the first time in around 2 months. The risk aversion that saw investors pull out of the single currency and Continue Reading…
Topic: Bank of England, Currency Exchange, Currency Rates, best US dollar prices, charles purdy
USD/GBP Rate & Comments for 29th November 2010
US$/GBP – 1.5617 Sterling fell against the US dollar on Friday afternoon hitting a 2 month low as concerns over the UK’s exposure to Euro zone debt left investors fearful that the crisis could spread beyond Greece and Ireland. There was poor house price data on Friday that showed house prices fell by 0.8% in Continue Reading…
Topic: Currency Exchange, Currency Rates, US Dollar, charles purdy
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