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Posted August 9th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 9th August 2010

USD/GBP – 1.594

Last week was a strong one for sterling – especially against the US dollar where the pound finished up 1.74% on the week. We saw sterling hit a 6 month high of $1.5999/ £1 against the US dollar on Friday after poor US employment data showed a worse than expected decline in July. As expected, last week saw the Bank of England Monetary Policy Committee keep interest rates and the £200bn asset purchase facility on hold. This week sees the publication of the Bank of England’s inflation report on Wednesday, which should give some idea of what the bank is likely to do with monetary policy over the next few months. Many are expecting an upward revision to the interest rate forecast, but growth expectations following the new government’s spending cuts are likely to be key. Also out on Wednesday is unemployment claimant count data. Call in now for a live exchange rate.

In the USA, concerns over the US recovery were compounded on Friday after July’s Non-Farm Payroll figures showed a drop of 131,000 jobs on the month against an expected drop of 63,000. In addition, June’s figures were revised downwards by almost 100,000. This was clearly a disappointment for the markets – especially with the US interest rate decision tomorrow, and the poor figures fuelled speculation that the Federal Reserve will take further action to stimulate the economy. There is little other data out today – ensure you are taking advantage of the best prices by speaking to a trader today.

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Posted August 5th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 5th August 2010 USD/GBP – 1.583 Sterling slipped off Tuesday’s highs as weaker than expected data on the UK services sector highlighted the possibility that the UK economy may struggle to match the better than expected growth posted in the first half of the year. The figure showed that the  Continue Reading…

Posted August 2nd, 2010 by Charles Purdy

USD/GBP Rate & Comments for 2nd August 2010 USD/GBP – 1.578 It was a strong week for sterling – especially against the US dollar. The pound has already breached the 5 month high of $1.57/ £1 that was seen on Friday. The reason for sterling’s strength was that the previous week, GDP data exceeded expectations  Continue Reading…

Posted July 30th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 30th July 2010 USD/GBP – 1.562 Sterling hit a further 5 month high of $1.5660/£1 yesterday on speculation over month end ‘rebalancing’ after strong performances on the US stock market. Strong earnings from many US firms over the last week has left many analysts expecting investors to sell their US  Continue Reading…

Posted July 13th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 13th July 2010 USD/GBP – 1.499 Sterling fell against the US dollar on Monday after concerns resurfaced over the UK’s triple A credit rating. Standard & Poor’s said it was maintaining the negative outlook on Britain’s economy as the challenging spending cuts announced in the recent emergency budget have yet  Continue Reading…

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