Sterling Exchange Rate

Live quote on the Sterling Rate 
Call us at: 1-800-374-8077

Currency Exchange Rates

• Canadian Dollar
• US Dollar
• Euro
• British Pound
• Japanese Yen

British Pound Commentary for April 16, 2007

British Pound Commentary

Sterling hit its highest since September 1992 versus the dollar on Monday, after strong British producer prices and housing data cemented expectations of an imminent interest rate hike according to Reuters. The dollar was under broad pressure on Monday especially against European currencies after the weekend Group of Seven meeting, growing concern about a possible U.S. rate cut and renewed focus on U.S. imbalances. Bloomberg is reporting that London homeowners gained an average 76,000 pounds ($150,000) on the value of their property in the past year, triple the median salary, as U.K. house prices rose the most since 2004, the country's biggest property Web site said. Asking prices for a home in the British capital reached an average 379,846 pounds in the four weeks through April 7, up 25 percent from a year earlier, Rightmove Plc said today. The cost of an average house in the U.K. rose 3.6 percent on the month and 15 percent from the previous year, the most in almost three years. This should put upward pressure on the GBP.