EMYC Exchange My Currency arrow News arrow 2008 arrow GBP-USD Dollar strength!

Foreign Currency Exchange

  • 16:04 - 18.11.2008 News >> 2008
    A trail of despair followed the Kiwi Dollar last week, with grim economic data revealing retail sales tumbling for a third consecutive quarter and investors continuing to curb their appetite for risk. The tightening of demands for carry trades reflects a bearish outlook for the NZD and as fears of a global recession intensify the Kiwi is likely to experience increased selling pressures. Deteriorating fundamentals continues to spur bets that the Reserve Bank of New Zealand will aggressively cut borrowing costs well into the next year in order to avoid a deep and severe recession. Volatility is likely to remain…
    Read more...
  • 16:02 - 18.11.2008 News >> 2008
    The overall sentiment for the Aussie dollar is still bearish, although this has not been enough to counter the antipathy surrounding Sterling like a storm cloud. The result of both of these forces have appeared to act in almost equal measure leaving the cross particularly range bound, especially when compared with some of Sterling’s other major crosses. The large shifts caused by Sterling weakness against the US Dollar and Euro have failed to materialise against the AUD with the cross oscillating around a 2% range for the last week. » No Comments There are no comments up to now. »…
    Read more...
  • 15:59 - 18.11.2008 News >> 2008
    The Canadian Dollar fell further against a basket of other currencies, after a dismal finish to the end of the week with the Toronto Stock Exchange and Dow Jones Industrial Average trade leading to further US Dollar strength. Continued losses in crude oil prices likewise boded poorly for the Canadian currency; the downtrodden Loonie falling especially hard against the resurgent Greenback due to plummeting raw materials prices. » No Comments There are no comments up to now. » Post Comment Only registered users can write a comment.
    Please login or register.
    Read more...
  • 09:01 - 12.11.2008 News >> 2008
    Deteriorating fundamentals dragged on the New Zealand Dollar last week as the unemployment rate spiked to its highest level since 2003, and may face further headwinds over the coming week as further economic news continues to reflect a dour outlook for the NZ economy. In addition, interest rate expectations could also stoke increased selling pressures for the high-yielding currency as we expect the Reserve Bank of New Zealand to aggressively cut borrowing costs well into the next year. » No Comments There are no comments up to now. » Post Comment Only registered users can write a comment. Read more...
  • 08:57 - 12.11.2008 News >> 2008
    In what promises to be another volatile week for the Aussie Dollar, the RBA is set to release its Quarterly Monetary Policy Statement, which is likely to offer familiar rhetoric justifying a further reduction of borrowing costs. Many analysts are now suggesting we may see a further 1 ½ points come off the base rate in Australia. » No Comments There are no comments up to now. » Post Comment Only registered users can write a comment.
    Please login or register.
    Read more...

Get an instant quote straight away with no hassle, find out the best rate we can get you.

Foreign Currency Exchange - Instant Quote

GBP-USD Dollar strength!

PDF Print E-mail
Wednesday, 13 August 2008

Dollar strength! Now there’s something we haven’t said for a while. Last week was the strongest for the Greenback since early 2004 with EURUSD dropping from 1.5631 to 1.5050 this morning and lows of 1.4928, and Cable has dropped over 3% with a high last Monday of 1.9835, compared to a low early this morning of 1.9138.

The FED, BoE and ECB all kept rates on hold as expected last week, with many analysts expecting that the next moves in the UK and Europe will be cuts. The Dollar was well supported by oil dropping to below $115 a barrel, helping to reduce inflation concerns but with the current conflict in Georgia we could see this creep back up due to supply concerns. We also saw better than expected home sales data, consumer spending and new factory orders for June, all helping to boost the Greenback. The Pound also suffered due to consumer confidence falling to another record low and major UK banks reporting falls in profits, and even losses in the case of RBS, due to the credit crunch. HSBC reported a 28% fall for the first half of 2008, Barclays announced another £2billion write-down, and RBS reported a write-down of £5.9billion and a first half loss of £691million, its first ever!

With the outlooks for both the UK and Eurozone economies worsening the days of 2 dollars to the pound look to be over. The key release this week is US retail sales on Wednesday where markets expect to see a slight rise, helping to maintain a strong dollar but with a hawkish MPC inflation report expected from the UK the same day, we should see a less volatile week for Cable with the rate remaining range bound between 1.89 and 1.9435.

» No Comments
There are no comments up to now.
» Post Comment
Only registered users can write a comment.
Please login or register.
 
< Prev   Next >

RSS Feed Reader

Exchange Cloud

although   aud   aussie   boe   cad   canada   canadian   credit   currencies   currency   cuts   data   despite   due   ecb   economic   economy   england   eur   euro   eurozone   exchange   expectations   expected   figures   further   gbp   global   growth   housing   however   inflation   into   investors   its   kiwi   likely   looking   markets   monetary   months   negative   news   not   nzd   outlook   pressure   price   prices   quarter   rate   rates   remain   risk   sales   sterling   strength   therefore   trades   trading   usd  

Foreign Currency Exchange - EMYC.

 

ECB Exchange rate

ECB Exchange Rates
Currency EUR 
2008-11-19
USD 1.2653
JPY 121.92
 BGN 1.9558
 CZK 25.655
DKK 7.4484
 EEK 15.6466
GBP 0.84210
 HUF 271.09
 LTL 3.4528
 LVL 0.7093
 PLN 3.8295
RON 3.8380
SEK 10.1845
 SKK 30.380
CHF 1.5166
 ISK 215.00
 NOK 8.9000
 HRK 7.1340
 RUB 34.6870
 TRY 2.0995
AUD 1.9511
 BRL 2.9279
CAD 1.5554
 CNY 8.6400
 HKD 9.8061
 IDR 15278.50
 KRW 1839.11
 MXN 16.6767
 MYR 4.5582
 NZD 2.2983
 PHP 63.010
 SGD 1.9312
 THB 44.317
ZAR 12.9900
  12.9900

Currency Feeds