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By Leigh Smith

Good news for people looking at buying US and Canadian dollars this morning as levels have reached new highs of recent months. GBPUSD pushed through the 1.54 barrier and GBPCAD over 1.60.

Unfortunately there seems to have been some profit taking from these high positions and the levels have crept back a touch from their high point, but with trading levels still at very attractive prices it may be prudent to submit an enquiry today and one of our award winning currency brokers will be in touch to explain how to make the most of current GBPUSD and GBPCAD exchange.

By Leigh Smith

Good morning readers,

Yesterday evening the Federal Open Market Committee released their minutes from their meeting at the start of July. The FOMC warned of a reduction in GDP growth for the US and highlighted the dangers of a double dip recession.

This has caused sterling to gain a touch during early morning trading today, a welcome uplift for anyone looking to buy US dollars. Levels currently available are now at a new 2 month high.

By Leigh Smith

Good news for anyone looking to buy US or Canadian Dollars today, as exchange rates have improved by over 0.5% for both currency pairs.

This seems to be on the back of two factors:

1. High inflation in the UK leading the markets to believe that an interest rate hike may be possible in the not too distant future
2. Better than expected UK jobless claims fuelling speculation that unemployment in the UK may be taking a turn for the better.

Each factor has helped send GBPUSD and GBPCAD exchange rates up this morning, a welcome move for anyone looking to buy dollars so why not submit an enquiry today and one of our award winning currency brokers will be in touch with you shortly to explain how to achieve the very best Dollar exchange rate.

By Leigh Smith

Moderate gains were seen against the USD for sterling as retail sales figures were slightly better than expected at 0.6%. This was mainly due to an increase in consumers rushing to electrical stores ahead of the World Cup. With an increase in retail sales, I would expect to see Q2 GDP figures in July show a sustained level of growth. This should quell any fears of a double dip recession, for now at least, and may be sterling positive.

The gains seen by sterling were complimented by the Secretary to the Treasury’s announcement on cuts to current and new government projects. The Labour government had promised around £34bn for new initiatives, including a new visitor centre at Stonehenge. Alexander confirmed that 1/3 of this would either be suspended or cancelled all together and helped the Pound through increased confidence that the government can tackle the budget deficit.

By Leigh Smith

For anyone looking to buy USD then today’s data releases could prove influential to GBPUSD exchange rates. at 9.30am UK CPI (consumer price index) figures are released, with positive figures expected.

If this is the case, we may see the cost of buying US Dollars decrease so why not submit an enquiry now, and an award winning currency broker will be in touch to explain how to make the most of this.