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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 far better than expected. However, ahead of today’s ECB meeting, investors scaled back on the amount of ‘short positions’ (i.e. bets against the euro) in case the meeting revealed something that brought euro strength. The manufacturing data did help sterling recover some ground against the US dollar, reaching a daily high of $1.5649/£1 after dropping to a 2 month low of $1.5485/£1 on Tuesday. In terms of data released today, there is construction purchasing manager data which could cause similar movement, so get in touch now to ensure you don’t lose out.

In the USA, the US dollar fell by over 1% against the euro ahead of the ECB’s interest rate meeting today in which many analysts speculated that the European Bank would announce measures to prevent further bailouts from crippling the region. In addition, there were also rumours that the USA would help support the region with higher contributions to the International Monetary Fund. There is US unemployment figures released today, so call in now for a live exchange rate.

 

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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…

Posted November 29th, 2010 by 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…

Posted August 11th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 10th August 2010

USD/GBP – 1.578 Sterling fell sharply yesterday against a stronger US dollar, hitting a 1 week low of $1.5750/£1. Weak housing and retail sales data in the UK added to the downward movement for the pound. A house price survey showed that 8% more of estate agents reported that prices had fallen and a retail  Continue Reading…

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