USD/GBP Rate & Comments for 7th October 2010
USD/GBP - 1.589
Sterling fell to a 4 ½ month low against a generally stronger euro yesterday as concerns over more monetary easing hurt sterling. However, as has been the case of late, gains from the single currency helped boost sterling against the US dollar and saw the pound hit a high of $1.5940/£1 – the highest since early August. The major concern for the UK is the Bank of England’s monetary policy committee meeting today. After mixed messages from several key decision makers, markets are expecting the worst – more Quantitative Easing. As a result, sterling has slumped to a low of 1.1360/£1 already this morning as investors sell the pound ahead of the news. House price data did not help either, showing that prices fell by 3.6% on the month. The decision is released at 12:00pm, so expect significant sterling/ euro volatility before and after – ensure you speak to a trader asap to avoid losing out.
In the USA, the US dollar continued to lose ground yesterday as it loses favour amongst global investors as many are now almost certain that the Federal Reserve will start pumping more money into the US economy in the next few weeks. The ADP Non-Farm payroll data showed that the economy shed 39,000 jobs in the last month which doesn’t help ahead of Friday’s ‘headline’ Non-Farm figures. There is unemployment data released today, so call in now for a live 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.
Showing posts with label US Dollar. Show all posts
Showing posts with label US Dollar. Show all posts
Thursday, 7 October 2010
Wednesday, 6 October 2010
USD/GBP Rate & Comments for 6th October 2010
USD/GBP - 1.593
Sterling recovered to hit a 2 month high against the US dollar yesterday after stronger than expected UK services sector data and expectations over further monetary stimulus in the USA. Sterling hit a high of $1.5928/£1 on the day as growth in the services sector unexpectedly jumped off of August’s 16 month lows. Analysts were keen to point out that this was not the reversal of the UK’s woes, and as such, any return to favour from the US dollar will see sterling slip back down. Sterling was not so successful against the euro, as euro buying in Asia helped strengthen the single currency. Out tomorrow there is key data released on house price data which is expected to show a slight increase on last month. The data could prove vital ahead of Thursday’s Bank of England interest rate meeting so speak to one of the team now to protect yourself.
In the USA, concerns still remain over the widely expected fresh monetary easing that is expected over the next few weeks. As a result, the US dollar fell to the lowest level against the euro in 8 months hitting a session high of $1.3851/1. Combined with the diversification of currency holdings by Asian banks, it was a poor day for the US dollar. US data showed that services sector activity improved slightly more than expected in September which helped slightly, but the overriding concerns over further Quantitative Easing prevailed. Out today, there is the first Non-Farm measure of the week. Speak to a trader now to ensure you take advantage of any large movements.
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.
USD/GBP - 1.593
Sterling recovered to hit a 2 month high against the US dollar yesterday after stronger than expected UK services sector data and expectations over further monetary stimulus in the USA. Sterling hit a high of $1.5928/£1 on the day as growth in the services sector unexpectedly jumped off of August’s 16 month lows. Analysts were keen to point out that this was not the reversal of the UK’s woes, and as such, any return to favour from the US dollar will see sterling slip back down. Sterling was not so successful against the euro, as euro buying in Asia helped strengthen the single currency. Out tomorrow there is key data released on house price data which is expected to show a slight increase on last month. The data could prove vital ahead of Thursday’s Bank of England interest rate meeting so speak to one of the team now to protect yourself.
In the USA, concerns still remain over the widely expected fresh monetary easing that is expected over the next few weeks. As a result, the US dollar fell to the lowest level against the euro in 8 months hitting a session high of $1.3851/1. Combined with the diversification of currency holdings by Asian banks, it was a poor day for the US dollar. US data showed that services sector activity improved slightly more than expected in September which helped slightly, but the overriding concerns over further Quantitative Easing prevailed. Out today, there is the first Non-Farm measure of the week. Speak to a trader now to ensure you take advantage of any large movements.
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, 5 October 2010
USD/GBP Rate & Comments for 5th October 2010
USD/GBP - 1.580
Sterling recovered against the euro on Monday as better than expected construction data helped investors feel more confident in the UK recovery. Construction PMI data showed that construction activity picked up in September, rising to 53.8 against an expectation of a fall to 51.6. Concerns over the ‘peripheral’ European countries also saw the euro suffer, but the atmosphere is still nervous ahead of Thursday’s Bank of England interest rate after last week’s comments by Adam Posen. The Bank of England policymaker made clear last week that a fresh round of Quantitative Easing should be used to pump more money into the economy and provide stimulus for growth. This contrasts with Andrew Sentance, who has been voting for a 0.25% rise in interest rates for the last 4 meetings. Either way, the meeting has the potential to cause significant movement, so call in and speak to a trader now to make sure you don’t lose out. Key house price and service sector data is released today also.
In the USA, concerns still remain over the widely expected fresh monetary easing that is expected over the next few weeks. However, the balance of power shifted back towards the US dollar as the euro lost ground after the budgetary and growth announcements detailed above. There was some respite as data showed sales of previously owned homes rose to a 4 month high, but the effect was not long lived. The US dollar may have recovered some ground against the euro, but it slipped to a 2 ½ year low against the Swiss franc and again hovered near to a 15 year low against the Japanese yen. Speak to one of the team to make sure you take advantage.
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.
USD/GBP - 1.580
Sterling recovered against the euro on Monday as better than expected construction data helped investors feel more confident in the UK recovery. Construction PMI data showed that construction activity picked up in September, rising to 53.8 against an expectation of a fall to 51.6. Concerns over the ‘peripheral’ European countries also saw the euro suffer, but the atmosphere is still nervous ahead of Thursday’s Bank of England interest rate after last week’s comments by Adam Posen. The Bank of England policymaker made clear last week that a fresh round of Quantitative Easing should be used to pump more money into the economy and provide stimulus for growth. This contrasts with Andrew Sentance, who has been voting for a 0.25% rise in interest rates for the last 4 meetings. Either way, the meeting has the potential to cause significant movement, so call in and speak to a trader now to make sure you don’t lose out. Key house price and service sector data is released today also.
In the USA, concerns still remain over the widely expected fresh monetary easing that is expected over the next few weeks. However, the balance of power shifted back towards the US dollar as the euro lost ground after the budgetary and growth announcements detailed above. There was some respite as data showed sales of previously owned homes rose to a 4 month high, but the effect was not long lived. The US dollar may have recovered some ground against the euro, but it slipped to a 2 ½ year low against the Swiss franc and again hovered near to a 15 year low against the Japanese yen. Speak to one of the team to make sure you take advantage.
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.
Monday, 4 October 2010
USD/GBP Rate & Comments for 4th October 2010
USD/GBP - 1.578
Sterling fell to a 4 month low on Friday against euro as worries over further Quantitative Easing and poor data saw investors sell the pound. Sterling fell below 1.15/£1 and dropped to a low of 1.1423/£1 in Asian trading overnight. Against the US dollar, sterling performed well as investors looked elsewhere over concerns that the Federal Reserve would pump more money into the economy over the next few weeks. Data on Friday showed that the UK manufacturing sector weakened more than expected in September, as export orders dropped fro the first time in a year. In a speech to the conservative party conference, Chancellor George Osborne has said that the UK has moved out of the financial “Danger Zone” and is set for a steady and sustainable recovery. Data out later is expected to show that UK construction activity declined for the 4th consecutive month and slumping to the lowest level since February. Call in now for a live exchange rate and to protect yourself from poor movements.
In the USA, concerns over further Quantitative Easing and monetary stimulus are still hurting the US dollar – expect this to continue in the run up to the next meeting of the Federal Reserve on 2nd November. Pending home sales and factory order data are both expected to show lower rates of growth later today. Ensure you are covered over the next few months by discussing forward contracts.
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.
USD/GBP - 1.578
Sterling fell to a 4 month low on Friday against euro as worries over further Quantitative Easing and poor data saw investors sell the pound. Sterling fell below 1.15/£1 and dropped to a low of 1.1423/£1 in Asian trading overnight. Against the US dollar, sterling performed well as investors looked elsewhere over concerns that the Federal Reserve would pump more money into the economy over the next few weeks. Data on Friday showed that the UK manufacturing sector weakened more than expected in September, as export orders dropped fro the first time in a year. In a speech to the conservative party conference, Chancellor George Osborne has said that the UK has moved out of the financial “Danger Zone” and is set for a steady and sustainable recovery. Data out later is expected to show that UK construction activity declined for the 4th consecutive month and slumping to the lowest level since February. Call in now for a live exchange rate and to protect yourself from poor movements.
In the USA, concerns over further Quantitative Easing and monetary stimulus are still hurting the US dollar – expect this to continue in the run up to the next meeting of the Federal Reserve on 2nd November. Pending home sales and factory order data are both expected to show lower rates of growth later today. Ensure you are covered over the next few months by discussing forward contracts.
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.
Friday, 1 October 2010
USD/GBP Rate & Comments for 1st October 2010
USD/GBP - 1.574
Sterling fell to a 4 month low against the euro yesterday after large flows related to the annual EU farming subsidy saw investors covering short positions after a surprise jump in orders for euros into sterling. The EU subsidy saw a large amount of euros moved into sterling, which caused sterling to drop. Once that had happened, many started taking advantage of the strong euro prices to move more euros into sterling, which saw a lot of speculators (who had been betting on a swift rebound) scramble to reverse their positions and avoid losing money. All in all, the effect of this was that sterling dropped from an earlier high of 1.1675/£1 to a 4 month low of 1.1535/£1. Despite this, sterling had a strong day against the US dollar – hitting $1.5920/£1 as house prices edged higher and Adam Posen (who earlier in the week stated that there should be more Quantitative Easing) said that he had not yet decided which way he would vote at the next Bank of England meeting. This eased concerns, but consumer confidence weakened more than expected. There is further house price data out today and manufacturing data. Call in now for a live exchange rate.
In the USA, following the news that Euro zone banks were relying less and less on bank funds, the US dollar dropped to a 5 month low against the euro. US dollar losses were limited though, as data showed stronger than expected business activity, lower unemployment claims and a 0.1% upward revision in 2nd Quarter GDP data. There is key manufacturing activity data today. Call in now for a live 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.
USD/GBP - 1.574
Sterling fell to a 4 month low against the euro yesterday after large flows related to the annual EU farming subsidy saw investors covering short positions after a surprise jump in orders for euros into sterling. The EU subsidy saw a large amount of euros moved into sterling, which caused sterling to drop. Once that had happened, many started taking advantage of the strong euro prices to move more euros into sterling, which saw a lot of speculators (who had been betting on a swift rebound) scramble to reverse their positions and avoid losing money. All in all, the effect of this was that sterling dropped from an earlier high of 1.1675/£1 to a 4 month low of 1.1535/£1. Despite this, sterling had a strong day against the US dollar – hitting $1.5920/£1 as house prices edged higher and Adam Posen (who earlier in the week stated that there should be more Quantitative Easing) said that he had not yet decided which way he would vote at the next Bank of England meeting. This eased concerns, but consumer confidence weakened more than expected. There is further house price data out today and manufacturing data. Call in now for a live exchange rate.
In the USA, following the news that Euro zone banks were relying less and less on bank funds, the US dollar dropped to a 5 month low against the euro. US dollar losses were limited though, as data showed stronger than expected business activity, lower unemployment claims and a 0.1% upward revision in 2nd Quarter GDP data. There is key manufacturing activity data today. Call in now for a live 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.
Thursday, 30 September 2010
USD/GBP Rate & Comments for 30th September 2010
USD/GBP - 1.585
Sterling fell again against the euro yesterday after Tuesday’s downbeat comments by a key Bank of England policy maker left sterling under severe pressure from investors. Sterling dropped to a 4 month low of 1.1590/£1 as markets became more and more concerned over the prospect of further Quantitative Easing. Sterling held steady against the US dollar. In a speech on Tuesday, Monetary Policy Committee member Adam Posen said that the central bank should start pumping more money into the economy in order to avoid a prolonged slump of the sort that Japan saw in the 1990’s. These comments certainly came as a surprise and saw sterling follow the US dollar down against the euro. Despite dropping a long way on Tuesday, poor UK data saw sterling drop further. The pace of service sector activity came in worse than expected and mortgage approvals stayed flat. In terms of data, there is key house price data which could see sterling drop even further if this dents the UK’s prospects. Call in now to speak to one of the team and prevent yourself from losing out further.
In the USA, the US dollar continued to suffer yesterday – especially against the euro - as concerns remained over further Quantitative Easing by the Federal Reserve. This is widely expected to be announced at the end of the Fed’s next meeting on November 2-3rd. There was no real data released yesterday, but last night there was an interesting Bill passing through the US Senate. The house is expected to enact a law that treats the artificially weak Chinese exchange rate as a subsidy and impose duties on goods imported from China to remove the artificially unfair advantage that the Chinese yuan currently enjoys in the global market. Given that most Chinese goods brought to the UK are paid for in US dollars, this could have far reaching consequences. Speak to one of the research team about what effect this is likely to have.
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.
USD/GBP - 1.585
Sterling fell again against the euro yesterday after Tuesday’s downbeat comments by a key Bank of England policy maker left sterling under severe pressure from investors. Sterling dropped to a 4 month low of 1.1590/£1 as markets became more and more concerned over the prospect of further Quantitative Easing. Sterling held steady against the US dollar. In a speech on Tuesday, Monetary Policy Committee member Adam Posen said that the central bank should start pumping more money into the economy in order to avoid a prolonged slump of the sort that Japan saw in the 1990’s. These comments certainly came as a surprise and saw sterling follow the US dollar down against the euro. Despite dropping a long way on Tuesday, poor UK data saw sterling drop further. The pace of service sector activity came in worse than expected and mortgage approvals stayed flat. In terms of data, there is key house price data which could see sterling drop even further if this dents the UK’s prospects. Call in now to speak to one of the team and prevent yourself from losing out further.
In the USA, the US dollar continued to suffer yesterday – especially against the euro - as concerns remained over further Quantitative Easing by the Federal Reserve. This is widely expected to be announced at the end of the Fed’s next meeting on November 2-3rd. There was no real data released yesterday, but last night there was an interesting Bill passing through the US Senate. The house is expected to enact a law that treats the artificially weak Chinese exchange rate as a subsidy and impose duties on goods imported from China to remove the artificially unfair advantage that the Chinese yuan currently enjoys in the global market. Given that most Chinese goods brought to the UK are paid for in US dollars, this could have far reaching consequences. Speak to one of the research team about what effect this is likely to have.
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.
Wednesday, 29 September 2010
USD/GBP Rate & Comments for 29th September 2010
USD/GBP - 1.586
Sterling fell by over 1% against the euro yesterday after downbeat comments by a key Bank of England policy maker left sterling floundering despite hitting a 7 week high of $1.5896/£1 against the US dollar. In a speech to the Hull Chamber of Commerce, Monetary Policy Committee member Adam Posen said that the central bank should start pumping more money into the economy in order to avoid a prolonged slump of the sort that Japan saw in the 1990’s. The markets were not expecting the negative comments and they contrasted sharply with his colleague Andrew Sentance who stated that the Bank didn’t need to restart the Quantitative Easing programme. Sterling hit a low of 1.1634/£1 and $1.5720/£1 following Posen’s comments despite strong data elsewhere. The UK’s trade deficit showed a stark improvement, jumping from -£9.6bn to -£7.4bn which shows that exports are improving. In addition, a survey by the CBI showed a marked increase in sales volume amongst retailers which was positive. However, this data was surpassed by the panic that the unexpected comments made. Today, we have lending data and consumer confidence figures. Speak to a trader now to stay abreast of the volatility.
In the USA, the US dollar suffered yesterday as concerns remained over further Quantitative Easing by the Federal Reserve. This is expected to be announced at the end of the Fed’s next meeting on November 2-3rd. Gold yet again hit a record high today, and US bond yields followed suit as investor confidence plummeted and investors looked for safer haven assets to invest in. Consumer confidence fell in September after poor business conditions and weak employment figures. This, combined with the fact that house prices fell to within touching distance of multi-year lows in July saw the US dollar drop further. Get in touch now to ensure you take advantage of this volatility.
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.
USD/GBP - 1.586
Sterling fell by over 1% against the euro yesterday after downbeat comments by a key Bank of England policy maker left sterling floundering despite hitting a 7 week high of $1.5896/£1 against the US dollar. In a speech to the Hull Chamber of Commerce, Monetary Policy Committee member Adam Posen said that the central bank should start pumping more money into the economy in order to avoid a prolonged slump of the sort that Japan saw in the 1990’s. The markets were not expecting the negative comments and they contrasted sharply with his colleague Andrew Sentance who stated that the Bank didn’t need to restart the Quantitative Easing programme. Sterling hit a low of 1.1634/£1 and $1.5720/£1 following Posen’s comments despite strong data elsewhere. The UK’s trade deficit showed a stark improvement, jumping from -£9.6bn to -£7.4bn which shows that exports are improving. In addition, a survey by the CBI showed a marked increase in sales volume amongst retailers which was positive. However, this data was surpassed by the panic that the unexpected comments made. Today, we have lending data and consumer confidence figures. Speak to a trader now to stay abreast of the volatility.
In the USA, the US dollar suffered yesterday as concerns remained over further Quantitative Easing by the Federal Reserve. This is expected to be announced at the end of the Fed’s next meeting on November 2-3rd. Gold yet again hit a record high today, and US bond yields followed suit as investor confidence plummeted and investors looked for safer haven assets to invest in. Consumer confidence fell in September after poor business conditions and weak employment figures. This, combined with the fact that house prices fell to within touching distance of multi-year lows in July saw the US dollar drop further. Get in touch now to ensure you take advantage of this volatility.
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, 28 September 2010
USD/GBP Rate & Comments for 28th September 2010
USD/GBP - 1.578
Sterling rose against the US dollar to hit a 7 week high of $1.5867/£1 as the US currency struggled to shake off concerns that the Federal Reserve would ease monetary policy further to stimulate the flagging recovery. The movement is clearly more down to US dollar weakness than sterling strength, as sterling’s continued weakness against the euro shows. Sterling continued to languish around the 1.1750 mark against the single currency, as the pound continued to track the euro’s recent strength against the US dollar. UK data didn’t help either, with a survey from property market researcher Hometrack showing that UK house price growth has fallen by 0.4% in September – the lowest rise for 18 months. However, the impact of this was limited, as a flagging housing market has already been priced in to sterling’s value. In terms of data today, the main release is the trade balance figures. Investors are desperate for exports to increase and start driving a ‘rebalancing’ of the economy from debt led growth to export led growth, and this figure will give a good idea of the situation. Additionally, the final GDP figure for the 2nd Quarter is released. This should remain unchanged at 1.2%. Call in now to ensure any unforeseen surprises don’t end up costing you more than they should do.
In the USA, gold hit an all time high of $1,300 per ounce and demand for US treasury bonds shot up. Further US bond auctions later this week are expected to see similarly high demand. The jump in demand for these ‘safe haven’ assets is as a direct result of the market expectation of further easing of US monetary policy by the US Federal Reserve. There was no real US data released yesterday, and today sees US consumer confidence which is expected to drop off marginally on last month. Call in now for a live 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.
USD/GBP - 1.578
Sterling rose against the US dollar to hit a 7 week high of $1.5867/£1 as the US currency struggled to shake off concerns that the Federal Reserve would ease monetary policy further to stimulate the flagging recovery. The movement is clearly more down to US dollar weakness than sterling strength, as sterling’s continued weakness against the euro shows. Sterling continued to languish around the 1.1750 mark against the single currency, as the pound continued to track the euro’s recent strength against the US dollar. UK data didn’t help either, with a survey from property market researcher Hometrack showing that UK house price growth has fallen by 0.4% in September – the lowest rise for 18 months. However, the impact of this was limited, as a flagging housing market has already been priced in to sterling’s value. In terms of data today, the main release is the trade balance figures. Investors are desperate for exports to increase and start driving a ‘rebalancing’ of the economy from debt led growth to export led growth, and this figure will give a good idea of the situation. Additionally, the final GDP figure for the 2nd Quarter is released. This should remain unchanged at 1.2%. Call in now to ensure any unforeseen surprises don’t end up costing you more than they should do.
In the USA, gold hit an all time high of $1,300 per ounce and demand for US treasury bonds shot up. Further US bond auctions later this week are expected to see similarly high demand. The jump in demand for these ‘safe haven’ assets is as a direct result of the market expectation of further easing of US monetary policy by the US Federal Reserve. There was no real US data released yesterday, and today sees US consumer confidence which is expected to drop off marginally on last month. Call in now for a live 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.
Monday, 27 September 2010
USD/GBP Rate & Comments for 27th September 2010
USD/GBP - 1.580
Sterling rose against the US dollar towards the end of last week and in early trading so far today. Sterling reached a high of $1.5842/£1 – a 6 week high – after poor US housing data added to an already weaker US dollar. Strong business sentiment in Germany helped the euro jump against sterling after the figures came in far better than expected. So far today, UK house prices have fallen by 0.4% in September according to a survey by property market researcher Hometrack. This is the 3rd consecutive decline in prices and the largest drop in 18 months. Analysts cited continued uncertainty regarding the economic outlook and concerns over the impact of the coming spending cuts and tax hikes. The rate of decline in house prices is likely to fall as new supply coming onto the market moderates and demand falls. For the rest of the week, keep an eye out for GDP data and consumer confidence figures. Call in and speak to one of the team to ensure you are protected.
In the USA, data was mixed last week with unemployment claims unexpectedly jumping from 453,000 to 465,000. However, later on data was released that showed existing home sales had increased from 3.8m to 4.1m. New home sales data on Friday was poor which saw the US dollar finish the week poorly – especially with the prospect of further Quantitative Easing looming. Out this week, there is 3rd quarter GDP released on Wednesday which could see some significant volatility in the build up to the announcement.
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.
USD/GBP - 1.580
Sterling rose against the US dollar towards the end of last week and in early trading so far today. Sterling reached a high of $1.5842/£1 – a 6 week high – after poor US housing data added to an already weaker US dollar. Strong business sentiment in Germany helped the euro jump against sterling after the figures came in far better than expected. So far today, UK house prices have fallen by 0.4% in September according to a survey by property market researcher Hometrack. This is the 3rd consecutive decline in prices and the largest drop in 18 months. Analysts cited continued uncertainty regarding the economic outlook and concerns over the impact of the coming spending cuts and tax hikes. The rate of decline in house prices is likely to fall as new supply coming onto the market moderates and demand falls. For the rest of the week, keep an eye out for GDP data and consumer confidence figures. Call in and speak to one of the team to ensure you are protected.
In the USA, data was mixed last week with unemployment claims unexpectedly jumping from 453,000 to 465,000. However, later on data was released that showed existing home sales had increased from 3.8m to 4.1m. New home sales data on Friday was poor which saw the US dollar finish the week poorly – especially with the prospect of further Quantitative Easing looming. Out this week, there is 3rd quarter GDP released on Wednesday which could see some significant volatility in the build up to the announcement.
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.
Friday, 24 September 2010
USD/GBP Rate & Comments for 24th September 2010
USD/GBP - 1.566
Sterling rose against the euro yesterday as Euro zone data came in worse than expected and cast doubts over the validity of the region’s recovery. European Purchasing Manager’s data (which shows how much companies are buying) came in far worse than expected causing concerns that the business outlook for the region is looking poor. Sterling rose to 1.1799/£1 on the news and left Wednesday’s 4 month low behind. However, according to Spencer Dale (chief economist at the Bank of England), the UK faces “substantial headwinds” attributable to government spending cuts and tight lending conditions. This leaves a distinct possibility that the Bank of England will inject further money into the economy to stimulate growth. One question needs to be asked though – is the bank’s negative rhetoric a ploy to keep sterling weak and drive exports and a rebalancing of the UK economy? We shall have to wait and see… There is no data out today, so speak to a trader today to avoid missing out on sentiment based trading.
In the USA, data was mixed yesterday. Initially, the US dollar fell against the Japanese yen as the number of unemployment claims unexpectedly jumped from 453,000 to 465,000. However, later on data was released that showed existing home sales had increased from 3.8m to 4.1m. The US dollar recovered a lot of the ground lost against the euro in the last few days, but with the prospect of further Quantitative Easing looming it is hard to see the US dollar going much further at the moment. Out today, there is new home sales data – speak to a trader now to minimise your losses.
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.
USD/GBP - 1.566
Sterling rose against the euro yesterday as Euro zone data came in worse than expected and cast doubts over the validity of the region’s recovery. European Purchasing Manager’s data (which shows how much companies are buying) came in far worse than expected causing concerns that the business outlook for the region is looking poor. Sterling rose to 1.1799/£1 on the news and left Wednesday’s 4 month low behind. However, according to Spencer Dale (chief economist at the Bank of England), the UK faces “substantial headwinds” attributable to government spending cuts and tight lending conditions. This leaves a distinct possibility that the Bank of England will inject further money into the economy to stimulate growth. One question needs to be asked though – is the bank’s negative rhetoric a ploy to keep sterling weak and drive exports and a rebalancing of the UK economy? We shall have to wait and see… There is no data out today, so speak to a trader today to avoid missing out on sentiment based trading.
In the USA, data was mixed yesterday. Initially, the US dollar fell against the Japanese yen as the number of unemployment claims unexpectedly jumped from 453,000 to 465,000. However, later on data was released that showed existing home sales had increased from 3.8m to 4.1m. The US dollar recovered a lot of the ground lost against the euro in the last few days, but with the prospect of further Quantitative Easing looming it is hard to see the US dollar going much further at the moment. Out today, there is new home sales data – speak to a trader now to minimise your losses.
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.
Thursday, 23 September 2010
USD/GBP Rate & Comments for 23rd September 2010
USD/GBP - 1.566
Sterling fell to a 4 month low against the euro yesterday of 1.1662/£1 and a 2 month low against a basket of major currencies after the minutes of the Bank of England’s recent interest rate meeting showed that the Monetary Policy Committee were more willing to consider a fresh round of Quantitative Easing. Members voted 8-1 to hold rates with Andrew Sentance yet again standing alone in his call for an interest rate hike of 0.25%. The general consensus was that there were risks on both sides and stood ready to respond in either direction, with many feeling that it was more likely that they would need to inject further stimulus in the coming months. There was one upside today for sterling. The pound jumped against US dollar early this morning and broke the $1.57/ £1 barrier but this was more a function of a relatively weaker US dollar than sterling strength. Out today we have mortgage approval data which is expected to show a decline. Speak to a member of the team to protect yourself in case sterling drops even further.
In the USA, the financial markets were digesting the impact of the Federal Reserve’s interest rate decision that was released on Tuesday evening. There was a slight change in the language used, which effectively ramped up the level of readiness for an increase in the ‘accommodation’ level that the Fed provides. Effectively, this prepared the markets for more quantitative easing without actually altering monetary policy. In terms of data, there is weekly unemployment claims and existing home sales data. Speak to a member of the team to protect yourself against adverse market movements.
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.
USD/GBP - 1.566
Sterling fell to a 4 month low against the euro yesterday of 1.1662/£1 and a 2 month low against a basket of major currencies after the minutes of the Bank of England’s recent interest rate meeting showed that the Monetary Policy Committee were more willing to consider a fresh round of Quantitative Easing. Members voted 8-1 to hold rates with Andrew Sentance yet again standing alone in his call for an interest rate hike of 0.25%. The general consensus was that there were risks on both sides and stood ready to respond in either direction, with many feeling that it was more likely that they would need to inject further stimulus in the coming months. There was one upside today for sterling. The pound jumped against US dollar early this morning and broke the $1.57/ £1 barrier but this was more a function of a relatively weaker US dollar than sterling strength. Out today we have mortgage approval data which is expected to show a decline. Speak to a member of the team to protect yourself in case sterling drops even further.
In the USA, the financial markets were digesting the impact of the Federal Reserve’s interest rate decision that was released on Tuesday evening. There was a slight change in the language used, which effectively ramped up the level of readiness for an increase in the ‘accommodation’ level that the Fed provides. Effectively, this prepared the markets for more quantitative easing without actually altering monetary policy. In terms of data, there is weekly unemployment claims and existing home sales data. Speak to a member of the team to protect yourself against adverse market movements.
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.
Wednesday, 22 September 2010
USD/GBP Rate & Comments for 22nd September 2010
USD/GBP - 1.569
Sterling fell to a 2 month low against the euro yesterday after stronger than expected demand for Irish and Greek government bonds eased concerns over European sovereign debt. Ireland sold 100% of the 1.5bn worth of bonds on offer and Greece managed to sell 390m worth of bonds – 72% of what was on offer. This saw sterling hit a low of 1.1810/£1 as the single currency surged on the strong sentiment that was generated by the bond auction. Sterling wasn’t helped after data was released showing that UK public sector borrowing hit a record high for August as interest payouts on UK government bonds shot up as a result of stubbornly high inflation. The data showed that the UK public sector spent £15.3bn more last month than it took in. In terms of today, there is yet more risk that sterling will drop in the form of the minutes of the Bank of England’s recent interest rate meeting. With concerns that the Bank are considering further Quantitative Easing, investors are keen to cast an eye over the discussions and thoughts of the decision makers. Speak to a trader now to protect yourself against further movements.
In the USA, despite the US dollar coming under significant pressure on Monday ahead of yesterday’s Federal Reserve interest rate decision, the announcement turned out to be a bit of a damp squib. There had been concerns that a further round of emergency stimulus would be pumped into the economy, but the Federal Reserve issued an almost identical statement to last month stating that “additional accommodation would be given [to the economy] if required” i.e. they would pump further money to stimulate as and when it was required. Early reaction following the announcement saw risk appetite improve and sterling strengthen by a cent on the day to just over $1.56/£1. Call in now and speak to one of the team about how best to take advantage of economic events such as interest rate announcements.
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.
USD/GBP - 1.569
Sterling fell to a 2 month low against the euro yesterday after stronger than expected demand for Irish and Greek government bonds eased concerns over European sovereign debt. Ireland sold 100% of the 1.5bn worth of bonds on offer and Greece managed to sell 390m worth of bonds – 72% of what was on offer. This saw sterling hit a low of 1.1810/£1 as the single currency surged on the strong sentiment that was generated by the bond auction. Sterling wasn’t helped after data was released showing that UK public sector borrowing hit a record high for August as interest payouts on UK government bonds shot up as a result of stubbornly high inflation. The data showed that the UK public sector spent £15.3bn more last month than it took in. In terms of today, there is yet more risk that sterling will drop in the form of the minutes of the Bank of England’s recent interest rate meeting. With concerns that the Bank are considering further Quantitative Easing, investors are keen to cast an eye over the discussions and thoughts of the decision makers. Speak to a trader now to protect yourself against further movements.
In the USA, despite the US dollar coming under significant pressure on Monday ahead of yesterday’s Federal Reserve interest rate decision, the announcement turned out to be a bit of a damp squib. There had been concerns that a further round of emergency stimulus would be pumped into the economy, but the Federal Reserve issued an almost identical statement to last month stating that “additional accommodation would be given [to the economy] if required” i.e. they would pump further money to stimulate as and when it was required. Early reaction following the announcement saw risk appetite improve and sterling strengthen by a cent on the day to just over $1.56/£1. Call in now and speak to one of the team about how best to take advantage of economic events such as interest rate announcements.
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, 21 September 2010
USD/GBP Rate & Comments for 21st September 2010
USD/GBP - 1.551
Sterling fell to a 7 week low against the euro yesterday after poor UK data highlighted a slow UK recovery. Data showed that lending to businesses dropped for the 5th consecutive month in July and mortgage approval data showed the lowest number of new mortgages in over a year. Figures also showed that monetary supply – or the amount of money in the economy – dropped by 0.2% in August. All of this led investors and analysts to question the UK’s recovery further and saw renewed calls for an additional round of Quantitative Easing from the Bank of England to stimulate the economy. This saw sterling drop to 1.1887/£1 before recovering marginally to end the day above 1.19/£1. Against the US dollar, sterling slipped to a low of $1.5526/£1 despite holding firm above the $1.56/£1 level over the weekend. Out today, there is key public sector borrowing figures which are highly anticipated and will cause sterling movement. Make sure you don’t miss out by speaking to one of the team today.
In the USA, the US dollar has been under further significant pressure yesterday ahead of today’s Federal Reserve interest rate decision. Concerns that a further round of emergency stimulus will be pumped into the economy saw gold reach a record high – testament to the level of uncertainty and concern that is prevalent in the marketplace. Aside from the interest rate decision, today sees new build housing data and building permits figures. All in all a lot in the pipeline, so make sure you have protected yourself by speaking to one of the traders ASAP.
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.
USD/GBP - 1.551
Sterling fell to a 7 week low against the euro yesterday after poor UK data highlighted a slow UK recovery. Data showed that lending to businesses dropped for the 5th consecutive month in July and mortgage approval data showed the lowest number of new mortgages in over a year. Figures also showed that monetary supply – or the amount of money in the economy – dropped by 0.2% in August. All of this led investors and analysts to question the UK’s recovery further and saw renewed calls for an additional round of Quantitative Easing from the Bank of England to stimulate the economy. This saw sterling drop to 1.1887/£1 before recovering marginally to end the day above 1.19/£1. Against the US dollar, sterling slipped to a low of $1.5526/£1 despite holding firm above the $1.56/£1 level over the weekend. Out today, there is key public sector borrowing figures which are highly anticipated and will cause sterling movement. Make sure you don’t miss out by speaking to one of the team today.
In the USA, the US dollar has been under further significant pressure yesterday ahead of today’s Federal Reserve interest rate decision. Concerns that a further round of emergency stimulus will be pumped into the economy saw gold reach a record high – testament to the level of uncertainty and concern that is prevalent in the marketplace. Aside from the interest rate decision, today sees new build housing data and building permits figures. All in all a lot in the pipeline, so make sure you have protected yourself by speaking to one of the traders ASAP.
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.
Monday, 20 September 2010
USD/GBP Rate & Comments for 20th September 2010
USD/GBP - 1.564
Sterling slipped against the US dollar on Friday, coming off an earlier 5 week high of $1.5730/£1 but holding firm above the $1.56/£1 level. A lack of UK data on Friday left sterling at the mercy of movements in other currencies and as concerns over Euro zone sovereign debt resurfaced, riskier currencies came under renewed pressure. In the last few weeks, huge swings between positive and negative sentiment mean that sterling is generally tracking the movements between euro and US dollar. It is a relatively quiet day on the economic calendar with the key data being the August mortgage approvals figure. The figure is expected to come in at just under 50,000 – historically a figure that does not correlate with a sustained house price boom. A lot of data points to further slowing in the sector. Later in the week, there is public sector lending figures and the Bank of England Monetary Policy Committee’s minutes from their recent meeting. Ensure you are protected over the coming weeks by speaking to a trader today.
In the USA, the US dollar has been under significant pressure over the weekend and in Asian trading today ahead of a busy week of data. The key area of concern for many is Tuesday’s Federal Reserve meeting in which many are expecting the Fed to start printing money again after stubbornly high unemployment figures and a run of poor data. The idea was raised at last month’s policy meeting and could be implemented this week. Housing data is the only real data released today, so call in ahead of tomorrow’s meeting to ensure you are covered.
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.
USD/GBP - 1.564
Sterling slipped against the US dollar on Friday, coming off an earlier 5 week high of $1.5730/£1 but holding firm above the $1.56/£1 level. A lack of UK data on Friday left sterling at the mercy of movements in other currencies and as concerns over Euro zone sovereign debt resurfaced, riskier currencies came under renewed pressure. In the last few weeks, huge swings between positive and negative sentiment mean that sterling is generally tracking the movements between euro and US dollar. It is a relatively quiet day on the economic calendar with the key data being the August mortgage approvals figure. The figure is expected to come in at just under 50,000 – historically a figure that does not correlate with a sustained house price boom. A lot of data points to further slowing in the sector. Later in the week, there is public sector lending figures and the Bank of England Monetary Policy Committee’s minutes from their recent meeting. Ensure you are protected over the coming weeks by speaking to a trader today.
In the USA, the US dollar has been under significant pressure over the weekend and in Asian trading today ahead of a busy week of data. The key area of concern for many is Tuesday’s Federal Reserve meeting in which many are expecting the Fed to start printing money again after stubbornly high unemployment figures and a run of poor data. The idea was raised at last month’s policy meeting and could be implemented this week. Housing data is the only real data released today, so call in ahead of tomorrow’s meeting to ensure you are covered.
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.
Friday, 17 September 2010
USD/GBP Rate & Comments for 17th September 2010
USD/GBP - 1.570
Sterling fell to a 7 week low against the euro yesterday as retail sales unexpectedly fell for August and high demand for Spanish debt strengthened the single currency. Sterling slipped to €1.1904/£1 as retail sales fell by 0.5% against an expected gain of 0.3%. Many analysts took the data as a sign that consumers are reigning in spending ahead of spending cuts/ tax hikes expected later in the year. Sterling stayed relatively flat against the US dollar after a strong performance earlier in the week. A survey showed that British factory orders dropped a little more than expected against last month and export figures fell slightly. The UK needs to rebalance from an economy driven by debt to an economy driven by exports and with a weak currency this should happen automatically. Poor export figures are therefore a concern. There is no real data out today, so call in and speak to a trader – especially if you need to move euros into sterling.
The USA had a poor day after data showed the US recovery was weakening. Risk aversion crept back in and saw high demand for US government bonds as investors looked for safer assets to hold. Data showed that business conditions contracted in the US in August and weekly claims for unemployment benefits remained high. This pushed the euro to the highest level in a month against the US dollar reaching a rate of $1.3112/€1. Call in to speak to one of the trading team about protecting yourself against adverse market movements.
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.
USD/GBP - 1.570
Sterling fell to a 7 week low against the euro yesterday as retail sales unexpectedly fell for August and high demand for Spanish debt strengthened the single currency. Sterling slipped to €1.1904/£1 as retail sales fell by 0.5% against an expected gain of 0.3%. Many analysts took the data as a sign that consumers are reigning in spending ahead of spending cuts/ tax hikes expected later in the year. Sterling stayed relatively flat against the US dollar after a strong performance earlier in the week. A survey showed that British factory orders dropped a little more than expected against last month and export figures fell slightly. The UK needs to rebalance from an economy driven by debt to an economy driven by exports and with a weak currency this should happen automatically. Poor export figures are therefore a concern. There is no real data out today, so call in and speak to a trader – especially if you need to move euros into sterling.
The USA had a poor day after data showed the US recovery was weakening. Risk aversion crept back in and saw high demand for US government bonds as investors looked for safer assets to hold. Data showed that business conditions contracted in the US in August and weekly claims for unemployment benefits remained high. This pushed the euro to the highest level in a month against the US dollar reaching a rate of $1.3112/€1. Call in to speak to one of the trading team about protecting yourself against adverse market movements.
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.
Thursday, 16 September 2010
USD/GBP Rate & Comments for 16the September 2010
USD/GBP - 1.559
Sterling performed well against the US dollar yesterday as traders bought the pound following an increase in employment. Early data showed an unexpected rise in the number of people claiming unemployment benefits which saw the pund drop to its lowest level against the euro since early July. However, when figures showed that the number of people in work rose by a record 286,000 to July, investors shook off earlier concerns which saw sterling rise to a daily high of $1.5650/£1 against the US dollar. In an address to the Trades Union Congress, Bank of England Governor Mervyn King said that the Bank “stood ready to act” if the economy needed further stimulus, but gave no clues as to whether they were preparing a fresh round of Quantitative Easing – leaving traders to wait until the Bank of England minutes are released next week. In terms of data, today sees monthly retail sales data and consumer inflation expectations. Speak to one of the team today to take advantage of higher US dollar prices.
In the USA, the US dollar had a turbulent day – especially against Japanese yen. Yesterday saw the Japanese yen rise to a 15 year high against the US dollar of JPY 83/ $1 after PM Naoto Kan’s victory in the leadership election. With much of Japan concerned over the impact that an incredibly strong yen will have on their export led economy, victory by Prime Minister Naoto Kan in Monday’s leadership election had a huge effect. The PM beat rivals who had been arguing for moves to weaken the currency and as a result of his victory; many thought there would be no intervention. However, overnight Japan started selling large amounts of yen in order to weaken the currency and protect exports. The US dollar rose by 3.3% against yen after Japan bought a reported $17.7bn. 2004 was the last time Japan intervened in the open markets. Call to speak about how using Order to Buys can take advantage of such volatility.
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.
USD/GBP - 1.559
Sterling performed well against the US dollar yesterday as traders bought the pound following an increase in employment. Early data showed an unexpected rise in the number of people claiming unemployment benefits which saw the pund drop to its lowest level against the euro since early July. However, when figures showed that the number of people in work rose by a record 286,000 to July, investors shook off earlier concerns which saw sterling rise to a daily high of $1.5650/£1 against the US dollar. In an address to the Trades Union Congress, Bank of England Governor Mervyn King said that the Bank “stood ready to act” if the economy needed further stimulus, but gave no clues as to whether they were preparing a fresh round of Quantitative Easing – leaving traders to wait until the Bank of England minutes are released next week. In terms of data, today sees monthly retail sales data and consumer inflation expectations. Speak to one of the team today to take advantage of higher US dollar prices.
In the USA, the US dollar had a turbulent day – especially against Japanese yen. Yesterday saw the Japanese yen rise to a 15 year high against the US dollar of JPY 83/ $1 after PM Naoto Kan’s victory in the leadership election. With much of Japan concerned over the impact that an incredibly strong yen will have on their export led economy, victory by Prime Minister Naoto Kan in Monday’s leadership election had a huge effect. The PM beat rivals who had been arguing for moves to weaken the currency and as a result of his victory; many thought there would be no intervention. However, overnight Japan started selling large amounts of yen in order to weaken the currency and protect exports. The US dollar rose by 3.3% against yen after Japan bought a reported $17.7bn. 2004 was the last time Japan intervened in the open markets. Call to speak about how using Order to Buys can take advantage of such volatility.
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.
Wednesday, 15 September 2010
USD/GBP Rate & Comments for 15th September 2010
USD/GBP - 1.546
Sterling performed well against the US dollar yesterday as UK inflation beat expectations and helped eased concerns that the Bank of England would increase their programme of Quantitative Easing. By close of play yesterday, sterling had hit a daily high of $1.5585/£1 against the US dollar as the stubborn inflation data saw investors back sterling as speculation grew that the US Federal Reserve would look to stimulate the US economy. Yearly inflation moved back up above 3.0%, coming in at 3.1% despite expectations that price growth would tail off as the austerity packages take effect. The Bank of England seems rather obsessed with the inflation figures and seems to be using the data as an excuse not to implement measures to help stimulate the economy. This was alluded to by many analysts as poor house price data demonstrated that the economy is still in trouble. A survey by the Royal Institute of Chartered Surveyors showed the biggest one month fall in house prices since June. Out later today there is unemployment data and Bank of England governor Mervyn King speaks to the Trades Union Congress in Manchester. Speak to a trader today to make sure you get the best price on your foreign exchange.
In the USA, retail sales data showed the biggest growth in the last 5 months with figures coming in as expected at 0.4% growth and core sales up 0.6% on the month. This saw higher yielding ‘riskier’ currencies benefit including the Australian dollar which jumped to a 10 month high against its US counterpart. In terms of data, today sees a range of industrial data so call in now and speak to one of the team to protect yourself against poor exchange rates.
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.
USD/GBP - 1.546
Sterling performed well against the US dollar yesterday as UK inflation beat expectations and helped eased concerns that the Bank of England would increase their programme of Quantitative Easing. By close of play yesterday, sterling had hit a daily high of $1.5585/£1 against the US dollar as the stubborn inflation data saw investors back sterling as speculation grew that the US Federal Reserve would look to stimulate the US economy. Yearly inflation moved back up above 3.0%, coming in at 3.1% despite expectations that price growth would tail off as the austerity packages take effect. The Bank of England seems rather obsessed with the inflation figures and seems to be using the data as an excuse not to implement measures to help stimulate the economy. This was alluded to by many analysts as poor house price data demonstrated that the economy is still in trouble. A survey by the Royal Institute of Chartered Surveyors showed the biggest one month fall in house prices since June. Out later today there is unemployment data and Bank of England governor Mervyn King speaks to the Trades Union Congress in Manchester. Speak to a trader today to make sure you get the best price on your foreign exchange.
In the USA, retail sales data showed the biggest growth in the last 5 months with figures coming in as expected at 0.4% growth and core sales up 0.6% on the month. This saw higher yielding ‘riskier’ currencies benefit including the Australian dollar which jumped to a 10 month high against its US counterpart. In terms of data, today sees a range of industrial data so call in now and speak to one of the team to protect yourself against poor exchange rates.
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, 14 September 2010
USD/GBP Rate & Comments for 14th September 2010
USD/GBP - 1.540
Sterling performed well against the US dollar yesterday as positive Chinese data and new banking rules helped boost risk appetite amongst global investors. Sterling gained 0.5% against a generally weaker US dollar to hit $1.5488 as sentiment towards the pound was positive throughout the day’s trading. There was very little data out but the impetus came from Strong Chinese data that showed Chinese factory data was strong – despite efforts by the Chinese government to curb the buoyant economy and avoid an asset bubble. As a result, investors felt happier taking risks and moved funds out of US dollars and into ‘riskier’ currencies. In terms of data, there is inflation data released later this morning which will be very closely watched as many analysts fear a ‘double dip’ recession is looming in the UK. Any sign of this in the inflation figures and we will likely see sterling suffer. Call in now to ensure you don’t lose out.
In the USA, the US dollar headed for its biggest fall against the euro since early July 15th as global risk appetite boosted high yield ‘riskier’ currencies. In addition, the new banking rules saw the single recovery receive an added boost and the US dollar slipped above $1.28/€1 for the first time since July. In terms of data, there is key monthly retail sales data that is expected to show a slight improvement. If it doesn’t, expect the US dollar to strengthen as investors look to move back into safer haven currencies. Call in now and speak to a trader to make sure you are protected.
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.
USD/GBP - 1.540
Sterling performed well against the US dollar yesterday as positive Chinese data and new banking rules helped boost risk appetite amongst global investors. Sterling gained 0.5% against a generally weaker US dollar to hit $1.5488 as sentiment towards the pound was positive throughout the day’s trading. There was very little data out but the impetus came from Strong Chinese data that showed Chinese factory data was strong – despite efforts by the Chinese government to curb the buoyant economy and avoid an asset bubble. As a result, investors felt happier taking risks and moved funds out of US dollars and into ‘riskier’ currencies. In terms of data, there is inflation data released later this morning which will be very closely watched as many analysts fear a ‘double dip’ recession is looming in the UK. Any sign of this in the inflation figures and we will likely see sterling suffer. Call in now to ensure you don’t lose out.
In the USA, the US dollar headed for its biggest fall against the euro since early July 15th as global risk appetite boosted high yield ‘riskier’ currencies. In addition, the new banking rules saw the single recovery receive an added boost and the US dollar slipped above $1.28/€1 for the first time since July. In terms of data, there is key monthly retail sales data that is expected to show a slight improvement. If it doesn’t, expect the US dollar to strengthen as investors look to move back into safer haven currencies. Call in now and speak to a trader to make sure you are protected.
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.
Monday, 13 September 2010
USD/GBP Rate & Comments for 13th September 2010
USD/GBP - 1.547
Sterling fell on Friday against the US dollar and euro after uncertainty regarding the UK economy lead market analysts to recommend selling sterling. Thursday saw the UK post a record trade deficit and then Friday’s wholesale price inflation came in far weaker than expected which left many feeling that the Bank of England would not raise interest rates until well into 2011. Spending cuts were back in the spotlight as £4bn worth of welfare cuts were announced on top of the existing plans to cut the bill by £11bn. With October’s spending review on the horizon, traders expect it to be a close fought race between sterling and euro as fresh concerns circulated last week over the European banking sector. Many expect sterling to end up the weaker of the two after a real autumn chill seems to have taken a grip of the data coming from the UK. There is no real data released today, with all eyes on inflation figures tomorrow. Speak to a trader now to ensure you are protected.
In the USA, the US dollar fell in overnight trade as Chinese factory data was strong – despite efforts by the Chinese government to curb the buoyant economy and avoid an asset bubble. As a result, investors felt happier taking risks and moved funds out of US dollars and into ‘riskier’ currencies. In addition, risk appetite was boosted by the announcement of the new Basel rules on capital adequacy. Known as ‘Basel III’, the rules force banks to almost treble the amount of capital they must hold on reserve in order to avoid a repeat of the financial crisis. This clarification has helped investors feel more confident about the recovery. It is a quiet day in the USA too, with retail sales data released tomorrow that is likely to have a large effect.
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.
USD/GBP - 1.547
Sterling fell on Friday against the US dollar and euro after uncertainty regarding the UK economy lead market analysts to recommend selling sterling. Thursday saw the UK post a record trade deficit and then Friday’s wholesale price inflation came in far weaker than expected which left many feeling that the Bank of England would not raise interest rates until well into 2011. Spending cuts were back in the spotlight as £4bn worth of welfare cuts were announced on top of the existing plans to cut the bill by £11bn. With October’s spending review on the horizon, traders expect it to be a close fought race between sterling and euro as fresh concerns circulated last week over the European banking sector. Many expect sterling to end up the weaker of the two after a real autumn chill seems to have taken a grip of the data coming from the UK. There is no real data released today, with all eyes on inflation figures tomorrow. Speak to a trader now to ensure you are protected.
In the USA, the US dollar fell in overnight trade as Chinese factory data was strong – despite efforts by the Chinese government to curb the buoyant economy and avoid an asset bubble. As a result, investors felt happier taking risks and moved funds out of US dollars and into ‘riskier’ currencies. In addition, risk appetite was boosted by the announcement of the new Basel rules on capital adequacy. Known as ‘Basel III’, the rules force banks to almost treble the amount of capital they must hold on reserve in order to avoid a repeat of the financial crisis. This clarification has helped investors feel more confident about the recovery. It is a quiet day in the USA too, with retail sales data released tomorrow that is likely to have a large effect.
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.
Friday, 10 September 2010
USD/GBP Rate & Comments for 10th September 2010
USD/GBP - 1.544
Sterling fell against the US dollar yesterday after the UK reported a record goods trade deficit and on speculation that the Bank of England would further stimulate the economy with additional Quantitative Easing. Sterling dipped as figures showed that the UK’s trade deficit unexpectedly jumped to a record £8.667bn. Whilst this entails imports outpacing exports – suggesting increased domestic demand – analysts are sceptical that this will help boost UK growth as the pending spending cuts take full effect over the next few years. The Bank of England held their interest rate meeting yesterday and kept interest rates on hold at 0.5% as expected, but many commentators expect further money to be pumped into the economy at a later stage as the ‘fiscal austerity’ measures cut growth and output. The main UK data out today is wholesale price inflation, which is expected to show a 0.2% rise. Get in touch now for a live exchange rate and to ensure you are protected.
In the USA, the US dollar strengthened against sterling to hit a low of $1.5396/£1 after the concerns hit sterling over potential further emergency funding being pumped into the UK economy. This saw the US dollar break through the 200 day moving average. In addition, the US trade deficit dropped and unemployment claims fell which added a boost to sentiment towards the US recovery. There is no real data out today so call in now for a live 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.
USD/GBP - 1.544
Sterling fell against the US dollar yesterday after the UK reported a record goods trade deficit and on speculation that the Bank of England would further stimulate the economy with additional Quantitative Easing. Sterling dipped as figures showed that the UK’s trade deficit unexpectedly jumped to a record £8.667bn. Whilst this entails imports outpacing exports – suggesting increased domestic demand – analysts are sceptical that this will help boost UK growth as the pending spending cuts take full effect over the next few years. The Bank of England held their interest rate meeting yesterday and kept interest rates on hold at 0.5% as expected, but many commentators expect further money to be pumped into the economy at a later stage as the ‘fiscal austerity’ measures cut growth and output. The main UK data out today is wholesale price inflation, which is expected to show a 0.2% rise. Get in touch now for a live exchange rate and to ensure you are protected.
In the USA, the US dollar strengthened against sterling to hit a low of $1.5396/£1 after the concerns hit sterling over potential further emergency funding being pumped into the UK economy. This saw the US dollar break through the 200 day moving average. In addition, the US trade deficit dropped and unemployment claims fell which added a boost to sentiment towards the US recovery. There is no real data out today so call in now for a live price.
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