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Posted November 25th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 25th November 2010

US$/GBP 1.5762

Sterling hit a high of €1.1862/£1 against the euro as the situation in Ireland continued to see investors selling the single currency ahead of a finalised bailout plan that is expected later this week. Data in the UK helped lift sterling with GDP data for the 3rd Quarter unchanged from the first estimate a few weeks ago. The UK grew by 0.8% in the 3 months to October and 2.8% year on year, boosted by net trade that the relatively weak currency had attracted. With investors looking for a credible alternative to the single currency, many expect sterling to continue to gain against the euro in the coming months, but some were concerned over the level of exposure that the UK had to Ireland which could hold sterling back. In terms of data, today we have the Inflation Report hearing, in which members of the Bank of England Monetary Policy Committee testify to the Treasury Committee. It can cause volatility, so call in now for a live exchange rate.
 
In the USA, fears over heightened tensions between North and South Korea saw investors seek the safer haven US dollar, as news broke that a US aircraft carrier was on the way to provide a deterrent. However, in terms of economic data, US unemployment claims came in better than expected – falling from 441,000 last week and coming in better than expected at 434,000. New home sales came in slightly worse than expected, but after a shaky start related to Korea, the US dollar benefited from the positive jobs data. It is Thanksgiving today, so the markets are shut in the USA – this can see volatility though, so get in touch.


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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…

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…

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…

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…

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