Go Back  British Expats > Partner Forums > HiFX - International Currency Transfers
Reload this Page >

Weekly Currency Update GBP/USD - Week ending 29th January

Weekly Currency Update GBP/USD - Week ending 29th January

Old Feb 1st 2010, 11:00 pm
  #1  
BE Enthusiast
Thread Starter
 
Joined: Dec 2004
Posts: 524
Windsor2 will become famous soon enoughWindsor2 will become famous soon enough
Default Weekly Currency Update GBP/USD - Week ending 29th January

Hi All,

As promised here’s a brief update on what’s been happening with the US Dollar over the last week.

While the US saw a significant uptick in the capital inflows during the month of November, it did little to sway traders appetite for risk. Instead it was politics which dominated the headlines as the week concluded. On Thursday President Obama announced a plan for sweeping reforms of the banking sector. At its very core it is to create less risk within the financial community although some viewed it as just another method of the Government trying to control the capital markets. In essence the reforms would prevent banks owning or sponsoring hedge funds as well as limiting proprietary trading to activities only belonging to customers needs. This would certainly revolutionize the financial community.

Finally Fed Chairman Bernanke's appointment for his second term was delayed as in house conflicts questioned his re-appointment. The market did not react kindly as US equities sold off as a consequence. This week we have an interest rate decision where a no change is expected, however look for any commentary surrounding a time frame for the potential withdraw of stimulus. Additionally, this Friday’s Non-farm Payrolls will also dominate attention along with more quarterly earnings from US blue chip companies.


GBP/USD movement – High’s & Low’s of last week (25-01-10 to 29-01-10)

High’s: 1.6278
Low's: 1.5979

A movement of 1.87%

Difference on £200,000

High: $325,560
Low: $ 319,580

Difference of: $5,980

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

Regards

Mark Bodega
Director - HiFX
Windsor2 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.