FindCurrency.com

By Michael Vaughan

Sterling has had a strong start to the morning in anticipation of this mornings GDP data due for release at 09:30. Figures are expected to show 0.3% growth from last month bringing official UK GDP figures to 0.6% any deviation from this figure however is likely to cause large movements for both these pairings. I would expect heavy losses should figures be anything less than 0.3% and the reverse if figures are stronger. For those that are risk averse it may well be worth arranging your transfer prior to 09:30.

By Michael Vaughan

GBP rates have had a very mixed day against the US and Canadian dollar finishing flat against the loonie and posting late afternoon gains against the greenback.

Sterling exchange rates initially posted losses in early morning trading following some po0r public finance data coming in at some £6 billion worse than expected. However the mornings trading was reversed by the afternoon showing the initial trend was probably caused by an overreaction to the figures and the market will now look to tomorrow’s Bank of England minutes for any news on future fiscal policy.

By Michael Vaughan

Sterling has had a poor day against both the US and Canadian dollar today falling 0.5% and 0.75% respectiveley.

The pound had started the day in a positive fashion following reports over the weekend that once again Andrew Sentance of the Monetary Policy Committee voted for an interest rate hike at this months meeting (this will be confirmed on Wednesday when the minutes are officially released). However throughout the course of the day these gains were quickly wiped out and the pound may come under continued pressure on Tuesday when will see the release of public finances data for June, with second-quarter gross domestic product figures due on Friday.

By Michael Vaughan

GBP rates had a strong day against both the US and Canadian Dollar gaining 0.6% and 1.5% respectively. This has brought GBP levels to a near 3 month high against the greenback and created some good buying opportunities in the current climate.

As for GBP/CAD today’s movement has taken levels near the highs of beginning of the month when the GBP/CAD breached 1.60 for the first time since February.

With little data due for release tomorrow and the general trend positive for the pound in recent weeks, we could see a small reversal tomorrow caused by profit taking, therefore if you are buying dollars you may wish to trade early tomorrow.

By Michael Vaughan

GBP exchange rates have strengthened over 0.5% against the USD and held steady against the Canadian Dollar. Sterling has found support following Standard and Poor’s, the credit rating agency, confirming the UK has held its AAA rating.

Other data today was mixed for GBP exchange rates with mortgage approvals falling to a nine month low but mortgage lending and consumer credit lending on the up.