Although last week’s consumer sentiment data for the US disappointed expectations, the Pound continued to trade lower against the US Dollar as the weekend began.
The Pound also closed trade slightly lower against the Euro as a recent run of less-than-impressive UK data continued to take a toll.
The Pound Sterling to US Dollar Exchange Rate was in the region of $1.5047 as of 10:30 GMT
1 US Dollar is currently worth 0.6647 pence
As the European session opened this morning the Pound dipped against the US Dollar and was little changed against the Euro as industry experts looked ahead to the publication of minutes from the Bank of England’s first policy meeting with Mark Carney at the helm. The minutes are scheduled for release on Wednesday and are expected to provide an insight into the BoE’s surprisingly dovish statement.
The GBP/USD exchange rate hit a low of 1.5035 pence per Dollar
Sterling was little affected by a report showing that UK home sellers hiked asking prices to record highs in July.
The data, compiled by Rightmove Plc, showed that prices rose by 0.3 per cent month-on-month following a gain of 1.2 per cent in June. Year-on-year prices were up 4.8 per cent.
In a statement issued with the figures Rightmove Director Miles Shipside stated: ‘A combination of apparent economic stability internationally – or at least, less widely-reported turmoil – and some signs of an economic upturn nationally mean more home movers are willing and able to increase their financial commitments. Barring a raft of bad economic news, we expect the positive impact of this on the property market to continue.’
Although fluctuations in the GBP/USD pairing can be expected to follow the release of influential advance retail sales figures for the US later today, movement in the GBP/EUR pairing may be limited in the hours ahead.
UK news to watch out for this week includes tomorrow’s producer price/consumer price figures, Wednesday’s employment figures and BoE minutes, Thursday’s retail sales report and Friday’s public finance figures.
News from the US and Eurozone could also trigger Sterling slides or advances.
Current Pound Sterling (GBP) Exchange Rates
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The Pound Sterling/US Dollar Exchange Rate is currently in the region of: 1.5047 <
The Pound Sterling/Euro Exchange Rate is currently in the region of: 1.1548 <
The Pound Sterling/Australian Dollar Exchange Rate is currently in the region of: 1.6556 <
The Pound Sterling/New Zealand Dollar Exchange Rate is currently in the region of: 1.9311 <
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6643 >
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8661 >
The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6039 >
The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5176 >
(As of 10:30 GMT)
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