Posts Tagged ‘pound sterling’

The Royal Mint highlights the celebration of London Olympics 2012 by releasing an edition of the 50 pence coin, with the football’s offside rule explained on the back side.

The designer Neil Wolfson says “If I had 50p for every time someone asked what the offside rule was, then I would be very rich.”

In United Kingdom there were an estimated 28 million coins circulating as of 30 March 2010.

The fifty pence (50p) coin was first introduced in year 1969, replacing the old ten shilling note. However, in the 1990s the size of the 5p, 10p and 50p coins were reduced. Therefore the oldest 50p coins in circulation are from 1997.

The Royal Mint is the body with permission to mint (manufacture) coins in the United Kingdom. Since 2009 the Royal Mint operates as a company through Royal Mint Ltd, with an exclusive contract with HM Treasury to supply all coinage for the UK. The Royal Mint Limited is 100% owned by HM Treasury (more known as just ‘The Treasury’).

Sterling Pound against US Dollar is now in an up-trend after bottoming at 1.4425. How long will it continue? Let us look at the latest currency graph for GBP/USD.

Current intraday support levels are at 1.5589 and 1.5710, while weekly resistance levels are at 1.6460 and 1.70. It’s no secret that many analysts expect Sterling to rise against the dollar. If the US economy continue to show poor statistics, we believe GBP will rise sooner rather then later.

What do you think about the latest strength for GBP? Will it continue or break down?

After reaching 6 month high last week, pound sterling is now falling to it’s lowest lever in more than a week. Reason: Data signals Britain is not recovering as quick as expected.

Housing market slows down

The first decline in property prices appeared in July, showing a slower sales growth then previous months. Sterling fell to $1.5740 in London afternoon trading hours.

Analysts such as John Hydeskov, Danske Bank, believe Sterling is overbought and should have a correction. He suggest buying Norwegian krone instead..

After a few days of discussions, many observers believe Tories and Liberal Democrats are forming a coalition government in United Kingdom. Currency analysts are now relieved that Gordon Brown seems to step down as Labours leader from September this year.

The new government are likely to cut borrowing sooner then a Labour government would and in general, it should do well for the economy and the british currency. Forex analysts already predict a hung parliment between conservatives and liberal democrats and they seem to like it – pound sterling rose by almost 1 % today. Interest rates (more…)

The pound sterling has been declining during most of this year, but maybe we are about to see a turning point now?

As you can see in the GBP minute graph, the Pound Sterling have been increasing against US Dollar before Easter holidays starts.

In the longer forex charts for GBP/USD, it looks like the GBP (more…)