US ($) Currency Thread 2

kefrif

Ah well - the way of it I suppose. I'm comfortable with it where it is, don't wanna see the days of $1.35 again...

wadia860

I guess I'm totally missing the point here, but why are some people getting excited about Bank rates (or whatever it's called)??

I'm more concerned about the 'High Street' rate...one that I'll physically see in my pocket. Could someone please explain this to a layman!? Possibly (?) the difference between the two prices is what the middleman makes, and obviously the higher the bank rate, the higher the High St price, but still.....pah!:think: I don't get it!

inspector_monkfish

09:30 16Jun09 UK inflation falls less than expected in May

LONDON, June 16 - British consumer price inflation slowed much less than expected in May to remain above the Bank of England's 2.0 percent target for a 20th consecutive month, official data showed on Tuesday.

The Office for National Statistics said consumer prices rose 0.6 percent on the month in May. That took the annual rate to 2.2 percent from 2.3 percent in April and the lowest since January 2008 -- and below forecasts of 2.0 percent.

Besides the anticipated upward effect from tax rises for alcohol and tobacco in this year's Budget, the chief upward influences were from rising prices of DVDs, televisions, clothing and footwear.

British inflation has remained remarkably sticky despite much lower energy and commodity costs compared to last year and an economic recession, perhaps due to the weakness of sterling.

But policymakers still expect inflation to fall sharply over the coming months and, as such, the figures are unlikely to alter expectations that monetary policy will remain loose for a considerable period of time.

The annual RPI measure of inflation, on which many wage deals are based and which includes housing costs, unexpectedly rose to -1.1 percent in May from -1.2 percent in April. Analysts had predicted a drop to -1.5 percent.

As well as being affected by the same upward pressures as the CPI measure, May's RPI was also boosted by housing costs as average mortgage interest rate payments rose slightly.

inspector_monkfish

Cable rockets from 1.6346 to 1.6410 straight after inflation data released (see above)

inspector_monkfish

wadia860 wrote: »

I guess I'm totally missing the point here, but why are some people getting excited about Bank rates (or whatever it's called)??

I'm more concerned about the 'High Street' rate...one that I'll physically see in my pocket. Could someone please explain this to a layman!? Possibly (?) the difference between the two prices is what the middleman makes, and obviously the higher the bank rate, the higher the High St price, but still.....pah!:think: I don't get it!

because any moves in the interbank market will have a direct effect on your high street rate

inspector_monkfish

1.6475 trading now

whatusername

wadia860 wrote: »

I guess I'm totally missing the point here, but why are some people getting excited about Bank rates (or whatever it's called)??

I'm more concerned about the 'High Street' rate...one that I'll physically see in my pocket. Could someone please explain this to a layman!? Possibly (?) the difference between the two prices is what the middleman makes, and obviously the higher the bank rate, the higher the High St price, but still.....pah!:think: I don't get it!

In layman terms the higher the trading rate the higher the high street rate. It also gives an indication as to which currency exchange companies are offering the best deals as the best deals are nearer the trading rate.

inspector_monkfish

1.6480 trading now

inspector_monkfish

1.6400 now

inspector_monkfish

and back up to 1.6470

bit of a rollercoaster today - as ronan keating would say;)