US ($) Currency Thread 2

inspector_monkfish

wish i'd had keane and torres up front...

http://fantasyfootball.skysports.com/

Voyager2002

Keith99 wrote: »

Down to 1.5845!! Not good...

Good for me. I have been 'sitting' on dollars for months, and at last I exchanged and so can pay my bills in pounds.

jonnywells

Yay looking like my CCE vegas fund gamble payed off. Got £1500 @ an avarage of $1.67

Just hope it turns up....

inspector_monkfish

1.5820 trading now

roots_controller

Come on pound, Turn it round !

inspector_monkfish

just ramped up from 1.5810 to 1.5900 in past hour

inspector_monkfish

15:31 28Sep09 GBP/USD: Consolidating Losses, UK Final Q2 GDP Tomorrow

London, September 28.
Cable has pushed its recovery envelope from a European afternoon/NY session low of 1.5813 to a high of 1.5880 since the 10am Eastern NY option cut. Resistance levels above include 1.5900 and 1.5915.

Loss consolidation is the big-picture story. 1.6389 was last Thursday"s early Europe intra-day peak--scaled before BoE Governor King"s description of the fall in GBP as "helpful" re: a rebalancing of the UK economy. Sell stops below 1.5900 were tripped in Asia today, en route to a five-month low of 1.5770. The climb from 1.5770 extended to 1.5915 offers during the European morning. 1.5917 was Friday"s floor.

The risk that the BoE may reduce the 0.5% rate it pays on commercial bank deposits held at the central bank is helping weigh on sterling. That risk has been heightened by the news that King met with Riksbank officials on a visit to Sweden last week (<TGM2339>). The next BoE monetary policy announcement is in 10 days time (Oct 8). Last month"s GBP 50bn BoE QE Asset Purchase Programme expansion to GBP 175bn is another major GBP-negative. GBP/USD scaled a 10-month peak of 1.7044 a day before the August 6 BoE MPA.

The final estimate of UK Q2 GDP will be revealed at 08:30GMT tomorrow, alongside BoE August consumer credit, mortgage approvals and money supply figures. September"s CBI retail sales survey ensues at 10:00GMT. Tomorrow will also see the BoE host a seminar for City economists, chaired by BoE Deputy Governor Bean, re: the APP.

inspector_monkfish

overnight low was 1.5845
overnight high was 1.5955

currently trading at 1.5915

inspector_monkfish

couple of mins before the data, cable trading at 1.5865

poggs

IM,

any idea why the pound crashed again when Gross domestic product fell by only 0.6% compared with the previous quarter, better than the previous estimate of a 0.8% contraction?

lost me!