Currency Line» US Dollar

GBP/USD exchange rate at highest level since Jan 2010

Alex Ellis — Thu, 29 Jul 2010 08:17:38 +0000

Mervyn King announced yesterday that the UK economy has a considerable way to go before UK interest rates return to normal. This caused sterling to fall sharply however towards the end of the day sterling had regained its feet and levels were picking up once more. The UK have had two positive data releases recently, UK GDP last week and retail sales figures on Tuesday and therefore this should help to keep rates steady for the remainder of the week.

There are continued fears that the USA may be heading towards a double dipped recession, recent data releases have highlighted a retraction in the growth of the economy. This has therefore caused fears to resurface of the possibility of a double dipped recession. If this were to happen then we could witness sterling reclaim some of this year’s large losses. However usually the UK follows suit and we may see the same happen with UK growth in the future.

In order to discuss how any of these topics may affect an upcoming currency purchase then use Currency Line to contact an experienced currency broker who can help to guide you through the process.

Currency market remains steady after yesterdays losses

Alex Ellis — Fri, 02 Jul 2010 08:47:08 +0000

Sterling exchange rates remained steady this morning following yesterdays losses against the Euro. These losses were experienced following uncertainty surrounding the possibility of a double dipped recession. A senior member of the Bank of England was quoted this week as saying he believed we would enter into a double dipped recession and the market responded to this.

Meanwhile in other news US dollar exchange rates have peaked at the highest levels seen for over 8 weeks. If you are looking at buying levels you are much better off doing this now than you would’ve been a few weeks ago.

Sterling rates continue to float around their recent plateau

Alex Ellis — Thu, 27 May 2010 08:03:28 +0000

Sterling exchange rates continued to float around their recent plateau as recent GDP figures showed positive growth, all be it at 0.2%. This has caused rates to continue to trade at similar levels as were seen before the election which was a year long high.

If you are looking to buy Euros now or some time in the future then you may want to consider a forward contract; this will allow you to book today’s exchange rates for up to two years in the future and therefore protecting your posistion.

Currency Market Report and Update

Alex Ellis — Tue, 25 May 2010 09:28:43 +0000

UK GDP was released at 09:30 (BST) today and the figures were released exactly as expected, sterling exchange rates have been on the up this morning and this released has helped to further establish a plateau.

Sterling is still trading at a recent high so if you are interested in doing a currency purchase, then now may be a good time. You may also be interested in a forward contract as this will guarantee todays exchange rate for the next six months.

For more information on how you can manage your risk in the present climate use currency line to contact an experienced currency broker.

Sterling begins to suffer as UK inflation remains at the highest levels since November 2008

Alex Ellis — Tue, 18 May 2010 13:23:43 +0000

Sterling is starting to show signs of weakness as recent economic data has shown that the economy is far from showing positive growth and although the UK has now established policitcal certainty this does not paint a pretty picture for the future of sterling.

Meanwhile once again the Dollar is remarkably strong against both the dollar and against the euro. With the euro exchange rates have almost hit parity whereas with sterling the rates are as low as they were in March last year.