Currency Rates
US$/GBP – 1.517
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Even though the UK purchasing managers indices for the services sector came in worse than expected sterling held steady. The index was still in positive territory which indicates that the UK economy is still expanding. Also we had slightly weaker demand for an issue of 2015 government debt which must raise slight worries given the level of debt that needs to be raised this year. The politicians are clearly getting up a head of steam by focussing on the upcoming election so please expect increased volatility and it makes sense to ring us sooner rather than later so as to plan properly.
No major news out of the US as sterling held close to the US$1.52/£1 level. Today we have the weekly initial jobless claims data. It will be interesting to see if this supports the positive monthly non farm payroll figures for last week.
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, 8 April 2010
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