GBP/USD Performance Chart as at 3:30 a.m. Singapore time, 03/05/11

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HISTORICAL DETAILS 

% Change

1 Wk 0.73%

1 Month 3.95%

3 Months 4.94%

6 Months 4.37%

1 Year 9.03%

 

52 WEEK

High 1.6747

Low 1.4231

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.61

Q3 2011 1.63

Q4 2011 1.63

Q1 2011 1.65

 

DAILY DETAIL

On the backend of long 4-day holiday, sterling is currently down against the dollar 0.46% to 1.6648, on news of bin Laden’s death. [2] The dollar rose briefly and oil prices fell overnight after US forces said they had killed al-Qaeda leader Osama bin Laden. World leaders called for vigilance toward any possible retaliation. Analysts said such action could be positive for the dollar if it provoked a flight-to-safety bid but added this was unlikely for the moment. In other dollar positive news, data released today showed US manufacturing expanded at a brisker pace than expected in April while another report showed construction spending rose at its fastest pace in 11 months in March. Paolo Palazzi-Xirinachs, Chicago

 

Notes: Sources: [1] & [2] Reuters (02 May 2011), [3] Sydney Morning Herald (02 May 2011), [4] Wall Street Journal (02 May 2011). Chart data supplied by Bloomberg.