Currency Rates

US$/GBP – 1.525


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So the UK general election is set for the 6th May 2010. This at least removes one uncertainty and after an initial loss of ground for sterling against the euro and the US$ it managed to strengthen. But given the likely ebbs and flows in the various parties’ fortunes over the next few weeks and the possibility of a hung parliament, it does mean that we are entering a period of high volatility for sterling. This morning we see sterling holding its own, close to 1.14/£1 and over the US$1.52/£1 level. But as I note this is a period of high volatility so expect to see rapid movements wither way and as such best to give us a ring as early as possible or risk losing out.

Limited news out of the US which has lost a bit of ground against sterling over the last week or so. Given the gains that the US$ has made since the start of the year against sterling and the euro a period of “weakness” is not a surprise. But it is worth noting that the US$ has not been all conquering as it has lost ground against the commodity backed currencies in the same period. Against the Canadian $ it has returned to parity [1:1] and lost ground against the Australian $ where their central bank raised interest rates by 0.25% overnight. The general view is that the US is leading the world out of recession. In fact it seems that the commodity backed countries are in the vanguard as China continues to spend its billions. So please give us a ring as uncertainty over exchange rates can make life very difficult and it seems best to talk to an expert.

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