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Full Rates & Charts

Interbank Market rate - GBP/USD

Bid Ask
1.3016 / 1.3019
Low High
24h 1.2984 - 1.3055
Week 1.2920 - 1.3116
For information purposes onlyFor informational purposes only. Please read Terms of Use for further information.

More Near real time rates - Not to be used for trading purposes.

Daily Commentary

Wednesday, 28 September 2016

Joshua Hughes - Private Client Dealer

United States Dollar:

As oil prices retreated 2% yesterday the Dollar was able to make early gains. This fall in oil prices was due to officials from Iran and Saudi Arabia stating that a deal to curtail oil production is unlikely to be reached today. Oil future prices fell dramatically with Goldman Sachs predicting a Q4 price of $43 per barrel, down from a previous prediction of $50. Yesterday’s Consumer Confidence unexpectedly rose from 101.8 to 104.1 giving the dollar a further boost. This gives the Dollar a solid base for a busy week ahead. Today we have key data coming in the form of Core Durable Goods orders m/m, which is due to fall from 1.3% to -0.5%, and Crude Oil inventories. The main event of the week will be Fed Chair Janet Yellen. Speaking today at 3:00pm, the Chair will be asked unscripted questions which will likely cause market volatility. Attention will turn to tomorrow’s Final GDP q/q due to rise from 1.1% to 1.3% and unemployment claims which is also due to rise from 252K to 260K. GBP/USD 1.3017 – 8:00am.

It seems that silence is golden for sterling at the moment as, on a very quiet day, the Pound was able to advance slightly against both Euro and US Dollar ... read more

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