US ($) Currency Thread 2

inspector_monkfish

just touched 1.70 again
back at 1.6980 at mom

M4RKM

i think it'll get there, but it'll take quite a few attempts... such a milestone 1.70 is for it compared to the rate back in March

sabretoothtigger

Aside from holidays and cheap imports it'd probably do us more good if the pound stayed low for five years I think.

Any company selling foreign assets like RBS just did today or a company with foreign earnings hoping they'll counteract horrible uk decline in business would also hope for a weak pound

No wonder the chinese fake their rate and the japanese stockmarket goes down mostly in line with their currency strengthing

inspector_monkfish

markymoo wrote: »

i think it'll get there, but it'll take quite a few attempts... such a milestone 1.70 is for it compared to the rate back in March

08:09 04Aug09 DJ MARKET TALK: GBP/USD Runs Into Offers At 1.70

0709 GMT (Dow Jones) GBP/USD runs into some good sized offers at 1.70, quickly falling back to 1.6975. In the Asian session the rate peaked at 1.7004 so there is definitely someone on top. Commerzbank's Karen Jones says there is some divergence on the hourly charts on the move to 1.70 so allow for corrective dips toward 1.6850 and 1.6735. However she says the market will remain directly bid above 1.6560 and any move above 1.7050 will target 1.7330. GBP/USD now at 1.6960.

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once asia is out of the picture, we could see the offers drying up here, and that could give the Pound fresh ammunition to hold above 1.70

sabretoothtigger

inspector_monkfish

inspector_monkfish wrote: »

08:09 04Aug09 DJ MARKET TALK: GBP/USD Runs Into Offers At 1.70

0709 GMT (Dow Jones) GBP/USD runs into some good sized offers at 1.70, quickly falling back to 1.6975. In the Asian session the rate peaked at 1.7004 so there is definitely someone on top. Commerzbank's Karen Jones says there is some divergence on the hourly charts on the move to 1.70 so allow for corrective dips toward 1.6850 and 1.6735. However she says the market will remain directly bid above 1.6560 and any move above 1.7050 will target 1.7330. GBP/USD now at 1.6960.

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once asia is out of the picture, we could see the offers drying up here, and that could give the Pound fresh ammunition to hold above 1.70

or it could just tumble to 1.6945 like it has now ;)

inspector_monkfish

trading at 1.6910
taken a nose-dive....

Wirral_Girl

Gosh, so much excitement for a Tuesday morning!!

I was even able to make transfers this morning for the FFL, so I now officially have the best team (Ha Ha......not!) .

Kim

inspector_monkfish

Wirral_Girl wrote: »

Gosh, so much excitement for a Tuesday morning!!

I was even able to make transfers this morning for the FFL, so I now officially have the best team (Ha Ha......not!) .

Kim

so they are available to transfer now?
great stuff.
i need to do some tweaking!

inspector_monkfish

08:58 04Aug09 GBP/USD: Talk of an Option Barrier at 1.7010

London, August 4.

There is talk that an option barrier may be attached to the 1.7010 level. 1.7005 was the 10-month peak scaled in Asia today, and revisited into the top of the last hour.

1.6926 was the interim low (posted in late Asian trade). An intra-day low of
1.6912 was plumbed on the most recent sell-off from 1.7005. Buy stops reportedly reside above 1.7010.

Standard Chartered has unveiled a surprise GBP 1bn fundraising, alongside its
disclosure of a 10% rise in half-year profit (Reuters).

July"s UK construction sector PMI will be unveiled circa 09:30. A rise to
45.0, from 44.5 in June, is forecast. GBP/USD leapt from 1.6775 on the back of
yesterday"s 09:28 revelation that July"s UK manufacturing sector PMI had
soared to a 16-month high of 50.8 (a number above 50 indicates expansion). It was forecast at 47.7.