USD/GBP Rate & Comments for 20th April 2010
USD/GBP - 1.538
Sterling fell by 0.6% against the US dollar yesterday reaching a low of $1.5194/ £1 – the lowest since April 8th. The pound’s fall was further fallout from last week’s first televised election debate. The markets were yet again left reeling by the prospect of a hung parliament as a YouGov poll for the Sun and a BPIX survey for the Mail on Sunday put the Liberal Democrats in front in the run up to the election. Given the ‘first past the post’ electoral system, this result would see a hung parliament. Investors are moving to the safer US currency as uncertainty surrounds the result. There are 2 further televised debates in the next two weeks and these are likely to have similar effects on volatility. Out today, we have consumer and retail price inflation data for the UK – call in today for a price to ensure you don’t miss out.
In the USA, following last week’s indictment of Goldman Sachs for defrauding investors, the Dow Jones stock market fell 1.1% and the S&P 500 fell 1.6% as investors fled equities for safer assets. This, combined with the concerns over the UK’s political situation saw the US dollar strengthen as aversion to risky assets took centre stage. There was little data out yesterday – today Ben Bernanke continues to testify to Congress. Get in touch now for a price.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
Tuesday, 20 April 2010
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