Currency Rates

US$/GBP – 1.543

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

How rapidly things can change. Up to midday on Friday sterling seemed to be building up a head of steam against the euro but the announcement of the rescue packaged for Greece by the European Central Bank put this into fast reverse with sterling losing nearly 1.5 cents by the opening of the market today. Just shows how volatile the market is and how quickly sentiment can change. Economic data last week wasn’t as good as expected but did show that the economy was continuing to grow and the 1st quarter growth figures will be eagerly awaited next week. This week the main bit of data are the trade figures for February. These are expected to show a reduction from the January figures which means that are exports are catching up with are imports. The movement over the weekend shows how important it is to get in touch so that you can take advantage when rates are good.

On the back of positive euro news the US$ has lost ground at the start of this week. A huge raft of economic data out this week for the US starting with inflation data. This is expected to be around the 1% range which the market believes is still low enough for interest rates to be kept at current low levels. Later in the week we have US retail figures and industrial production. Both are expected to show continued improvement as the US leads the western world out of recession. Again the rapid movement over the weekend shows how important it is to be in touch with us earlier than later. So please give us a ring.

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