Currency Rates

US$/GBP – 1.518

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Sterling benefited at the end of last week as US employment fell less than anticipated despite severe weather conditions in a lot of the country. Many investors hopeful of a return to positive jobs growth next month. This better than expected data drove risk appetite and this morning the FTSE 100 is trading above the 5,600 level for the first time since the beginning of September 2008 as investors feel the global recovery is gathering pace. Demand for UK shares could see sterling strengthen as the relatively weak pound encourages investors to buy. There is a relatively quiet start to the week – no key data is released today aside from some retail sales figures, and one of the members of the Bank of England’s Monetary Policy Committee speaks today at 13:00. Despite positive sentiment this morning, the Bank of England has an ability to bring a negative slant which could cause volatility. Call in now to take advantage of sterling’s relative strength.

In the USA, Friday’s better than expected Non-Farm Payroll employment data has boosted risk appetite. Despite the negative situation in the UK, many analysts feel that sterling was oversold last week on panic selling. As a result, with the positive sentiment that we are seeing at the start of the week, we could see sterling recover. There is no data out today aside from a member of the Fed speaking later this evening. If you have US dollars to move into sterling at any point, get in touch now as we are able to fix the price for up to a year to ensure you do not miss out on these advantageous prices.

Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UKor fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx