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Posted January 19th, 2015 by Charles Purdy

US Dollar still flying high

The US dollar finished off last week in a positive manner, following on from the Swiss National Bank’s unexpected move to abolish its euro peg. This, coupled with some strong economic data from stateside, allowed the dollar to move to an overall 11-year high.

While the inflation came in a little lower than forecast, the dollar managed to reverse the negativity from this, thanks to the Consumer Sentiment figure from the country. This came out significantly ahead of expectations, moving up to the highest level in 11 years. The dollar rose against most of its major partners on this news, with any positive data increasing hopes of an interest rate rise.

This week starts with no data from the US, with markets closed in observance of Martin Luther King Day. Tuesday is almost as quiet, with just some words from a member of the US Federal Reserve to interest investors. Wednesday sees the first major piece of data from the country, from the building permits figures, before Thursday’s regular showing from the labour market in the form of unemployment claims data. Friday then rounds off a particularly quiet week in likewise fashion, with just the two smaller releases of the flash manufacturing Purchasing Managers’ Index (PMI) and the existing home sales data that are liable to impact the markets directly.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

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Posted July 22nd, 2014 by Charles Purdy

Will todays inflation and home sales data support the dollar

The US dollar had a subdued start to the week, with no significant movements of note against its major partners. The currency managed to make slight gains against both sterling and the euro, as little data was released from both the US and the wider areas. As such, investors were tentative as they looked ahead to today’s data points.

First up from these is the inflation data from the Consumer Price Index. Investors will be keen on these figures given that they give a broad overview of the state of the economy – they also carry influence as to when the US Federal Reserve will raise their interest rates.

Posted August 23rd, 2012 by Charles Purdy

USD/GBP Rate & Comments for 23rd August 2012

US$/GBP – 1.5887 Sterling had a relatively strong day yesterday despite the lack of any significant data released in the UK, strengthening against the majority of currencies and reaching a 3 month high of 1.59 against the US dollar after the Federal Open Market Committee (FOMC) meeting minutes were released. Another fairly quiet day for  Continue Reading…

Posted August 22nd, 2012 by Charles Purdy

USD/GBP Rate & Comments for 22nd August 2012

US$/GBP – 1.5776 Sterling had a mixed day yesterday losing ground against the euro and gaining against the US dollar. Data released showing that the level of public sector borrowing was worse than expected due to a rise in government spending and a fall in tax receipts undermined sterling. Other data released from the Confederation  Continue Reading…

Posted June 16th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 16th June 2010 USD/GBP – 1.476 Sterling had a mixed day yesterday, falling after CPI inflation data came in slightly under what had been expected. Markets were anticipating an annual rate of inflation of 3.5% and when the data showed 3.4%, investors sold the pound. This saw sterling fall to  Continue Reading…

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