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

Blink_Eden

neilbond007 wrote: »

it's back up to touching 1.46! oh yee of little faith...
i told you... 1.49 by the end of this week... *cough*

http://www.youtube.com/watch?v=nLaYpJavKvA

inspector_monkfish

overnight rally up from 1.4450 around 5pm last night, all the way up to 1.4730 around 6.30am

currently trading back down at 1.4650 right now

inspector_monkfish

06:29 24Mar09 Gbp/Usd prepares to scale the 1.4800 handle

06:29 GMT - After spending the last hour hugging the 1.4690-1.4700 level, the
[GBP/USD] finally triggered stops at the 1.4700 handle to reach an
intraday high around 1.4730. A Russian and M/E name were notable buyers
this round. Persistent buying in the Gbp/Jpy by Japanese pension and trust
funds which saw the cross gaining more than 300 points to above the 144.00
handle also contributed to the pair's strong rise today. Bids at 1.4660 by
a European name will likely hold the downside as the pair prepares to
scale the 1.4800 handle.

jonathanrichardson69

looking good!!! IM, how do you think this massive trillion dollar pledge by Mr Obama will affect things?

inspector_monkfish

07:51 24Mar09 IFR-GBP/USD: Elicits Support circa 1.4626, UK RPI & BOE King Ahead

[07:50 GBP/USD: Elicits Support circa 1.4626, UK RPI & BOE King Ahead] London,
March 24. Cable elicited support circa 1.4626 (yesterday"s early Europe high) at the bottom of the hour after extending south from today"s late Asian session six-week peak of 1.4738. Today"s Sydney session range was 1.4550-1.4695.

Big-picture: the pound is benefitting from increased risk appetite fuelled by the US "Public-Private Investment Programme" unveiled by US Treasury Secretary Timothy Geithner yesterday. The Nikkei closed up 3.3% at 8,488 today, and has now risen nearly 20% in the space of a fortnight. The Dow closed up 6.84% at 7,775 yesterday. Dow futures are currently down 12 points.

Yesterday"s comments from PBOC Zhou Xiaochuan receive a lot of attention in the morning press, with headlines including "China calls for new reserve currency" (FT), "China challenges power of the USD as it flexes its economic muscles" (The Times), "China Takes Aim at USD" (WSJ), "USD status under attack from China" (The Independent). Yesterday"s gloomy comments from outgoing BoE MPC member David Blanchflower in a House of Commons seminar also garner plenty of attention in the UK morning press, with "Blanchflower warns of horrible things to come" (The Independent) being one example.

The Times has learnt that more than one million nurses, midwives and other NHS staff fact losing a promised pay rise in the first sign of a salary squeeze for UK public sector workers.

UK inflation figures for February will be unveiled at 09:30GMT today.
Annualized RPI is forecast down 0.8%--its first negative reading since 1960,
having been up 0.1% in January. Annualized CPI inflation is forecast to fall to
+2.6%, from +3.0% in January.

BoE Governor Mervyn King, BoE Deputy Governor Paul Tucker, BoE Chief
Economist Spencer Dale and outgoing MPC members Tim Besley and Blanchflower are slated to address the UK Treasury Select Committee from 09:45GMT re: last month"s Quarterly BoE Inflation Report. There is a post on the "Money Moves Markets" blog which says the previously-documented pattern of sterling weakening when King gives a speech or appears at an Inflation Report press conference was repeated
last week.

funkyfin2000

yeah how long do you think it's going to stay up for!!!!!

funkyfin2000

on another note, do you pay to change travellers cheques?

inspector_monkfish

jonathanrichardson69 wrote: »

looking good!!! IM, how do you think this massive trillion dollar pledge by Mr Obama will affect things?

morning

christ knows mate
its not exactly something they do every week !!

neilbond007

oh my... things are looking quite good.
i'm sure something will come out of the UK economy or someone will say something on the UK economy to send it straight back to !!!!!! street

i'm liking the 1.48000 mentioned mind you!

inspector_monkfish

funkyfin2000 wrote: »

yeah how long do you think it's going to stay up for!!!!!

until 9.30am, when CPI and RPI are released.......and 9.45am when Merv King speaks....

unless of course the figures totally surprise the markets (in a good way)