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Interbank Market rate - GBP/USD

Bid Ask
21:02
1.5736 / 1.5740
Low High
24h 1.5645 - 1.5738
Week 1.5473 - 1.5738

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Daily Commentary

27 January 2012

Alex Hartley


:: United States Dollar: A quieter day’s trade yesterday saw cable move within a smaller range. Sterling should have started on the back foot Thursday morning as UK retail sales suffered its biggest fall in three years. It suggests that shoppers firmly shut their wallets after the Boxing Day sales. The FED euphoria from Wednesdays release kept Sterling sitting high against the US Dollar and the currency pair peered over 1.5720. An increase in US Durable goods orders helped keep the euphoria going in the US session as a 3 % climb surpassed the predicted 2.1 %. The positivity dwindled off as the US session continued with the dampener coming from unemployment and new home figures. Both were disappointing releases albeit they didn't come in far off their forecast figures. This has seen cable trade within a 50 pip range yesterday with a Thursday high of 1.5728 reached. GBP/USD sits in the mid of this range at 1.5695 this morning.

- We expect a range today in the GBP/USD rate of 1.5620 to 1.5760

:: Euro: The single currency comes off recent gains against the USD and GBP. Talks between Greece and its private creditors progressed on Thursday as they continue to find a resolution in restructuring the ... read more


Forex news

FOREX-Euro turns negative vs dollar-Reuters data

27 January 2012
The euro erased earlier gains against the U.S. read more

Dollar pares losses against euro after Fed forecast

26 January 2012
The dollar pared losses against the euro on Wednesday after the U.S. Federal Reserve took the historic step of setting an inflation target. The 2 percent target moves the Fed in line with many of the world's other major central banks. read more

Sterling under pressure vs dollar after GDP fall

25 January 2012
Sterling fell against the dollar on Wednesday, pressured by worse-than-expected gross domestic product data showing the UK economy contracted and signs that the Bank of England is preparing for another round of quantitative easing. read more

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