Monday, 30 July 2007

Weekly US Dollar Rates and Comments - Week Commencing 30th July 2007

Sterling has enjoyed a roller coaster week, hitting yet more 26 year highs against the US$, pushing close to €1.50 and then losing strength towards the end of the week following evidence that the UK housing market was beginning to slow thereby suggesting that the need for further UK interest rate rises in the near term were diminishing.

 

The US$ hit US$2.065/£1 during the week but has pulled back quickly to US$2.025/£1 inter bank. The US housing market still suffers but the market seems to feel that it is not all doom and gloom in the US economy. As ever you should never feel it is a one way bet with the US$.

 
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