Currency Rates
US$/GBP – 1.522
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 hit a 1 month high against the euro and a 2 week high against the US dollar as the pound extended a fourth straight day of gains against the major currencies. Sterling finished the day at around 1.1220/ £1 having hit a high of 1.1270/ £1 earlier in the morning. Against the US dollar, the pound broke through to $1.5200/ £1 before closing around $1.5190/ £1. Sterling’s strength was as a result of traders covering short positions (buying back sterling after speculatively betting against the pound by selling the currency) and following the positive GDP data earlier in the week. In addition, opinion polls over the last few days have shown that the Conservatives may have strengthened their lead over Labour, however many analysts still point to the risk of a hung parliament as the key factor that is likely to hold sterling back from a recovery. It seems that a Conservative majority victory is the best case scenario for the pound, whereas a hung parliament is the worst. Heading into the Easter weekend, there is house price data from HBOS and data on purchasing activity in the manufacturing sector. Call in now for a price.
In the USA, companies unexpectedly cut 23,000 jobs from the payroll in the last month. Expectations were for an increase of 40,000. The results from this particular survey do not take into account ‘weather related’ jobs which are expected to show a strong rebound following last month’s adverse weather conditions. The main data including this figure is out tomorrow, and given many major markets are closed there could be serious volatility as fewer participants in the market reduces liquidity and can cause price spikes. Get in touch now to avoid missing out over the holiday weekend.
Many clients have been enquiring about our opening hours over Easter. They are as follows:
Thursday 1st April: Open 08:00 – 18:00
Friday 2nd – Monday 5th April: Closed
Tuesday 6th April: Open 08:00 – 18:00
Have a great holiday and a Happy Easter!
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
Thursday, 1 April 2010
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