US ($) Currency Thread 1 (closed - use thread 2)

jackieblack

johna999 wrote: »

Its really jumped today... Can you think of a reason why?

It's because Inspector Monkfish is back!! :rotfl:

inspector_monkfish

just fallen away a bit at end of day
currently trading at 1.4560

missmom

thank you, been able to order at 1.44....been watching it for the last week...and not sure it will as good as the last time i exchanged at 2!

inspector_monkfish

all a bit choppy this morning

fell away overnight to 1.4450 around 12.00am, only to bounce back to 1.450 around 5.00am, but was soon back down to 1.4475 at London 7.00am opening.

Has since rallied up to 1.4550, down to 1.4490, and is currently hovering around 1.4510.

I suspect it is waiting to make a breakout either way and that'll then be the general direction for today. I hope its the upside that wins the power struggle!

If it does, I would expect to see it challenging 1.47 later today.

neilbond007

inspector_monkfish wrote: »

all a bit choppy this morning

fell away overnight to 1.4450 around 12.00am, only to bounce back to 1.450 around 5.00am, but was soon back down to 1.4475 at London 7.00am opening.

Has since rallied up to 1.4550, down to 1.4490, and is currently hovering around 1.4510.

I suspect it is waiting to make a breakout either way and that'll then be the general direction for today. I hope its the upside that wins the power struggle!

If it does, I would expect to see it challenging 1.47 later today.

Monkfish, you bounder!
Are you paid to be eternally optimistic? Or can I have some what you've been drinking?

I've got my hopes pinned on 1.47 now :j

inspector_monkfish

neilbond007 wrote: »

Monkfish, you bounder!
Are you paid to be eternally optimistic? Or can I have some what you've been drinking?

I've got my hopes pinned on 1.47 now :j

its so much better than having your hopes pinned on 1.37

i usually start the day with a large jug of Pimms and a scooby-doo sized cucumber sandwich....

inspector_monkfish

hold your horses.....

i've just noticed that one of the Bank of England policy makers, Andrew Sentance is due to speak later today (9.40am)

Last time he spoke, he rambled on about UK being set for long deep recession, worst than the annything else post-ww2.

Obviously he is correct, but markets just pick up on any negatives said by people like him, (even though its stuff we already know) so mind your eye later......

jackieblack

inspector_monkfish wrote: »

hold your horses.....

i've just noticed that one of the Bank of England policy makers, Andrew Sentance is due to speak later today (9.40am)

Last time he spoke, he rambled on about UK being set for long deep recession, worst than the annything else post-ww2.

Obviously he is correct, but markets just pick up on any negatives said by people like him, (even though its stuff we already know) so mind your eye later......

Can't someone in the vicinity nip in and gag him?..... about 9.39am would be good!:D

inspector_monkfish

09:15 24Feb09-Sterling edges up vs dollar; UK retail sales eyed
* Sterling edges up vs dlr but gains limited; dips vs euro
* U.S. govt's proactive approach helps riskier currencies
* CBI distributive trades, BoE's Sentance speech awaited

LONDON, Feb 24 - Sterling edged higher against the dollar on Tuesday as riskier currencies continued to benefit from tentative optimism about the U.S. government's proactive approach towards tackling the global financial crisis.

The U.S. has pledged to prop up ailing banks if needed [ID:nPEK310497], but investors remain very nervous that any action may still not be enough to stem the severe downturn facing the global economy.

This limited the pound's gains against the dollar, keeping it below the two-week high of $1.4660 reached on Monday, while UK stocks fell 0.5 percent <.FTSE> following steep falls on Wall Street overnight.
The pound dipped against the euro, however, as market players awaited more news on the health of the UK economy.

The Confederation of British Industry's distributive trades survey is due at 1100 GMT, and British Bankers' Association mortgage data at 0930 GMT.
"There is some data due out, though nothing has changed as regards the fundamental outlook for the UK," Dublin-based AIB Group Treasury economist Geraldine Concagh said. "Investors will be monitoring the level of appetite for risk as well as stock market performance."

At 0902 GMT, the pound edged up 0.2 percent to $1.4519 against the dollar <GBP=>, while the euro gained 0.2 percent to 87.83 pence <EURGBP=>.

A speech by Bank of England policymaker Andrew Sentance at 0940 GMT will also be closely watched for any further details on the central bank's plans to implement unconventional measures to boost the UK's money supply.

Standard Bank currency strategist Steve Barrow said in a note to clients that sterling could see "a knee-jerk reaction" in the event of weak CBI data, but the data must be treated cautiously given the recent strong official data.

Against the yen, the pound continued to gain, rising around 1.2 percent to 138.57 yen <GBPJPY=R>, not far off a six-week high above 139 yen hit on Monday.

The yen has suffered broadly from worries about a weak Japanese economy, which has prompted investors to unwind long yen positions that have been built up in recent months.

The pound rose broadly on Monday on speculation that UK banks are stepping up efforts to shore up their finances, and investors will be keeping a close eye on any further developments.

A report in Tuesday's Financial Times said UK Chancellor Alistair Darling is prepared to drop the 480 million pound annual interest charged on a taxpayer loan to Lloyds Banking Group <LLOY.L> if the group increases lending to small businesses [ID:nLO251645].

inspector_monkfish

jackieblack wrote: »

Can't someone in the vicinity nip in and gag him?..... about 9.39am would be good!:D

on the other hand, if he does start talking a bit more upbeat, the markets will also pick up on this..... especially as its someone who is usually so negative....