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Posted April 27th, 2015 by Charles Purdy

US Dollar under pressure

The US dollar had a difficult week last week and weakened further against sterling and the euro on Friday as core durable goods orders data released showed a contraction in core orders being placed, although the overall figure had grown more than expected.

It will be interesting to see if the US dollar continues to weaken against its peers this week. Growth figures to be released on Wednesday for the first quarter are expected to highlight a tough winter and be close to 1%, much less than the 2.2% for the last quarter of 2014. We also have the latest Federal Reserve meeting the same day. It is a fairly low key meeting as there is no press conference following the meeting or new economic forecasts and the expectation is that there will be no change in policy. The weekly unemployment claims for the US is due Thursday, with expectations for another high figure – which could build a negative view for the Non-farm employment figures due next week. The ISM Manufacturing Purchase Managers’ Index will be hoping for a positive sign, especially with the US fighting against the current slowdown.

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 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.

Posted January 15th, 2014 by Charles Purdy

Good retail sales figures boost US economy

The US dollar had an encouraging day yesterday, strengthening against the majority of most traded currencies thanks to much better than expected retail sales data being released. Core retails showed an increase of 0.7% when only a 0.4% rise had been anticipated, causing the US  dollar to generally strengthen for the first time in four days, and did so by the most in four weeks against the Japanese yen, although it did fall against sterling. After words overnight from two members of the Federal Open Market Committee (FOMC), today’s main data point from the US will be the inflation data released in the form of the Producers’ Price Index this afternoon.

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 May 16th, 2011 by Charles Purdy

USD/GBP Rate & Comments for 16th May 2011

US$/GBP – 1.6203 Sterling slipped on Friday after stronger than expected GDP growth in Europe reinforced the view that interest rates would rise at a faster rate in the euro zone than in the UK. Sterling also slipped against the US dollar, falling below the $1.62/ £1 mark. Stronger than expected GDP growth in France  Continue Reading…

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