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

neilbond007

whatusername wrote: »

IT's certainly holding out for now, found an interesting spread for all those hoping for the $2 - £1. It looks like that level is pie in the sky and potentially years away.

interesting reading - especially as we're watching it drop like a stone at the moment!
be in the 1.46's shortly!

jonathanrichardson69

morning all, cable dropped almost 3 cent in 24 hours.

inspector_monkfish

05:16 07Apr09 Gbp/Usd tumbled to 1.4640 low as risk aversion creeps back

04:16 GMT - A weak opening session in Asia/Pacific stock markets saw some risk
aversion creeping back into the market giving a prop to the Greenback
which was enough to send the [GBP/USD] tumbling from an earlier high
around 1.4750 to an intraday low around 1.4640 before bids at the 1.4635
level prompted a bounced in the pair to current level of 1.4690. UK
industrial production and manufacturing output data which is expected to
show improvement over the prev month will provide some support ahead of
the data but the pair remains vulnerable to the downside if global
equities correct from recent highs.

inspector_monkfish

whatusername wrote: »

IT's certainly holding out for now, found an interesting spread for all those hoping for the $2 - £1. It looks like that level is pie in the sky and potentially years away.

i think its fairly obvious the rates of 2.10 and 1.20 are extreme up and downsides, and a happy medium is somewhere in the middle, prob around 1.60-1.70.

Unfortunately, its never as simple as that all year round !
Would also be very boring !!

inspector_monkfish

trading at 1.4725

inspector_monkfish

07:52 07Apr09 GBP/USD: 1.47 Handle Reclaimed as Recovery Envelope Pushed

[06:52 GBP/USD: 1.47 Handle Reclaimed as Recovery Envelope Pushed] London, April 7. Cable has pushed its recovery envelope from today"s Asian session five-day low of 1.4638 to highs just shy of 1.4750 through the European morning-to-date. GBP/USD was trading near 1.4750 at yesterday"s US close.

USD buying from US names helped depress sterling from today"s Asian open, with sell stops below 1.4670 (yesterday"s low) tripped en route to 1.4638. A Times article headlined "Toxic debts could reach $4 trillion, IMF to warn" was flagged as a factor in the drop to 1.4638.

Loss consolidation from 1.4960 (yesterday"s London lunchtime 8-week peak) is the big-picture story. The Nikkei closed down 0.3% at 8,832 today. The Dow closed down 0.52% at 7,975 yesterday. Dow futures are currently down 19 points.

A net 23% of UK service sector companies have reported falling domestic sales, compared with 31% previously, according to a quarterly survey from the British Chambers of Commerce. The BCC"s manufacturing sector sales balance deteriorated to a 20-year series low of minus 55%, from 38% previously (FT). The BCC predicts that UK unemployment will rise to 3.2 million (The Independent).

UK February industrial and manufacturing production data will be unveiled at 09:30 today. IP is forecast down 1.2% m/m, MP is forecast down 1.6% m/m. "The GBP 39bn black hole in the Chancellor"s Budget" is the headline of an article in The Independent, re: yesterday"s IFS forecasts. UK Chancellor Darling will deliver his budget on April 22.

inspector_monkfish

numbers came in better than expected, but cable still taken a tumble


trading at 1.4700

neilbond007

inspector_monkfish wrote: »

numbers came in better than expected, but cable still taken a tumble


trading at 1.4700

jeez... unbelievable!
1.465

inspector_monkfish

neilbond007 wrote: »

jeez... unbelievable!
1.465

yep, i'm at a loss to explain it!!
numbers came out BETTER than expected, and Cable takes a nosedive

jeez - good job they didn't come out worse than expectations !!

neilbond007

every cent that the rate drops i'm losing an inch off the plasma i'm going to buy...
luckily i started at 100" and $1.50