Pound Strong Versus Dollar on Global Recovery
The U.K. currency extended Friday’s gains versus the U.S. dollar today as global optimism helped speculations that an economic recovery in the U.K. will make its currency more attractive in
A business report published today by a private company in the U.K. indicated that confidence regarding economic conditions has improved substantially in an annual comparison, helping the pound to post another day of gains versus the greenback after a Chinese trading report suggested that the global economic recovery expected for 2010 is so far being confirmed, as both exports and imports climbed in China.
GBP/USD traded at 1.6111 as of 23:08 GMT from 1.6069 when markets opened yesterday.
If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.
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Earlier News About the Great Britain Pound:
- Pound to Decline Versus Higher-Yielding Currencies on Weak Recovery (2010-01-11)
- Unchanged Rates and Bond Purchases Maintain Pound Down (2010-01-08)
- Pound Declines Before Policy Makers Meeting (2010-01-05)
- Pound Posts First Yearly Gains Since 2006 (2009-12-31)
- Pound Rallies From 3-Month Low Versus Euro (2009-12-31)
4 Comments
I wanted to know roughly what the prediction of exchange rate would be for April/May 2010, I read we were looking at £1 = £1.668, is that about accurate, or are we looking at higher or lower GBP V USD??
Regards, Seb
I meant £1 = $1.668 sorry!!! Id really appreciate a response as I am transferring all of my savings from my halifax to Well Fargo in the USA and wanted to know when the best time was to do it!!!!
Yes, i understood, if you have some urgency to do it, you can do it now, as i dont believe there will be significant changes in the currency pair until april if forecasts for both U.S. and U.K.’s economies will be confirmed
In my opinion, even if this rate is possible to be reached, the British economic outlook is rather negative, and i would expect the GBP/USD to trade at the rate you mentioned or lower.