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Sterling Exchange Rate Forecast

Michael Vaughan — Mon, 04 Oct 2010 16:56:57 +0000

The pound has continued its recent run of strength against the USD gaining nearly 0.2% on the day keeping levels close to the recent 7 week highs. In my opinion the short term movement for GBP/USD will depend on Thursday’s key interest rate decision at 12:00 Thursday, most would expect interest rates to remain on hold at 0.5%, as do I, however what is important to focus on will be any announcement with regards an extension of the banks Quantitative Easing programme, should this happen I would expect sterling to fall from the recent highs.

Buying Dollars

Michael Vaughan — Tue, 14 Sep 2010 16:57:49 +0000

The pound has had a strong day against the US and Canadian dollar gaining 1% and 0.7% respectively. Sterling has found supportas investors looked for gains on riskier currencies and in the current economic climate the pound is classified as a much riskier asset than the US and Canadian dollar.

Sterling/Dollar Exchange Rates

Michael Vaughan — Fri, 13 Aug 2010 15:21:14 +0000

Sterling has remained relatively stable agains the USD but has lost ground agains the loonie (Canadian Dollar) by nearly 0.5% today.

Sterling has haltered recent losses against the USD today following strong GDP data from Germany which has prompted a return to risk for many investors. The USD is classified as a ‘safe haven’ currency and with an improvement in growth from one of the leading economies within the world economy this has given investors confidence and hence we have seen riskier assets such as the pound benefit.

Sending Money Overseas

Michael Vaughan — Thu, 05 Aug 2010 16:13:29 +0000

GBP rates have fallen today against the US and Canadian dollar falling 0.2% and 0.45% respectively. Sterling was to find little support from the Bank of England earlier today as they decided to hold the base rate at 0.5% as widely expected. The market will now look to the Bank of England minutes due for release in 2 weeks to see how the 9 members of the Monetary Policy Committee voted.

For those buying dollars a key focus should now be placed on the non-farm payroll data from the US at 13:30 BST and unemployment data from Canada at 12:00 BST.

Buying and selling dollars

Michael Vaughan — Wed, 28 Jul 2010 16:15:24 +0000

GBP rates hit fresh five month highs against the USD today breaching 1.56 on the interbank for the first time since February. Sterling has benefitted from an increase in risk appetite following the European Bank stress tests last Friday. In these tests 91 banks were scrutinised and 7 were to fail, far better than many had expected. This has improved investor confidence and increased investor appetite for riskier assets over the normally safe haven of the US dollar. I personally think these gains may prove to be short lived and hence current levels to me look attractive.