US Dollar to Pound Sterling (USD/GBP) Weekly Roundup: March 9 to 13

Modified: Sunday, 15 March 2015 22:30 BST - Written by James Fuller

STORY LINK US Dollar to Pound Sterling (USD/GBP) Weekly Roundup: March 9 to 13

US Dollar Exchange Rate Summary vs the British Pound (USD/GBP) With Conversions

At the start of the week, the US Dollar exchange rate gave up some of its gains from the previous week as market attention focused on the launch of the European Central Bank’s quantitative easing programme.

Despite giving up ground, the currency was continuing to trade at an 11-year high against the single currency and remained stronger against the Pound Sterling.

Strong US jobs data from the previous week increased expectations that the Federal Reserve will hike interest rates soon.

The Pound Sterling to Dollar (GBP/USD) exchange rate saw little movement due to a lack of market moving data out of the UK.

On Tuesday, the US Dollar advanced to an 11-1/2 year high against the Euro and climbed to an 8-year high against the Japanese Yen exchange rates as the monetary policy outlook of the Federal Reserve and the central banks in Japan and Europe continues to diverge.

Midweek, the US Dollar surged to a new 12-year high against the Euro and advanced against other major peers as investors continued to raise their bets that the US Federal Reserve will hike interest rates in the summer.

Pound Sterling also remained softer on softer than forecast monthly industrial production data.


On Thursday, the US Dollar softened against all of its major peers as economists deemed the currency’s gains as overdone. Despite that the ‘Greenback’ remains at a 12-year high against the Euro and was at a 5-week high against the Pound. The pound had found some support on Thursday after the U.K. Office for National Statistics said the country's goods trade deficit narrowed to £8.41 billion in January from £9.93 billion in December, whose figure was revised from a previously estimated deficit of £10.15 billion.

Comments made by Bank of England Governor Mark Carney weakened the Pound as he suggested that the strength of the UK currency and low inflation could delay an interest rate rise.

On Friday the US currency advanced back up to a fresh 20-month high after the ‘Greenback’ regained ground from the preceding sessions disappointing US retail sales report and as investors ignored more disappointing data to focus on next week’s Federal Reserve policy meeting.

Dollar Exchange Rates:

The US Dollar to Australian Dollar exchange rate is +0.19 pct higher with a conversion rate of 1 USD equals 1.31182 AUD.
The US Dollar to Canadian Dollar exchange rate is +0.08 pct higher with a conversion rate of 1 USD equals 1.27948 CAD.
The US Dollar to Swiss Franc exchange rate is +0.13 pct higher with a conversion rate of 1 USD equals 1.00714 CHF.
The US Dollar to Euro exchange rate is +0.04 pct higher with a conversion rate of 1 USD equals 0.95310 EUR.
The US Dollar to Pound Sterling exchange rate converts +0.01 per cent higher at 1 USD is 0.67827 GBP.

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TAGS: American Dollar Forecasts Currency Predictions Daily Curre Forecasts