Pound creeps up

28 July, 2011


Despite yesterday’s headline-making unemployment figures in the UK, the Pound has not fallen – perhaps because poor figures were already factored into the value of GBP.

A terrible reading from the key German ZEW business survey also helped keep the Euro weak.

For the US Dollar, the Federal Reserve’s downbeat outlook on the US recession have helped to weaken the dollar, the exchange rate now is back up above $1.64 to the Pound.

This week’s major data is now all out, so anybody with currency requirements should perhaps take stock of the latest movements and speak to Currency Index about securing rates, which can be done up to 2 years ahead of your anticipated requirement.