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British Pound and U.S. Dollar Exchange Rates Research Paper


Executive summary

This report is about forecasting the exchange rate between the British Pound (GBP) and U.S. Dollar (USD). Currency traders use several methods in forecasting to be able to gain higher profit. One method in forecasting is the use of data and the corresponding analysis, and tracing price trends that may appear in sequence or in cluster. The technical analysis (TA) method is a scientific way of creating a forecast, involving the recording and clustering of the variables and looking for past price trends. The agent can use the results in buying or selling currencies. There are several aids that currency traders use to get the precise trend, or a good forecast. In the currency market are tools, newsletters, and other print materials, selling information about price data. Others use gut feeling, but this is unscientific and may lead to a questionable situation for the agent.

This paper discussed the different variables and used technical approach (TA) in the analysis of the variables. The hypothesis was tested and the null hypothesis – that gut feeling is more effective than using data in the forecast – was rejected because it lacked evidence from empirical studies.

Hypothesis

The report tested the hypothesis that foreign currency traders who use data for decision-making are likely to gain competitive edge in foreign exchange than those who rely on gut feelings.

Background

Knowing the trend in exchange rates enables forecasters to determine international currency involved in business and the risks and benefits in international business. A forecast is a look at an unpredictable future and the near-certainty of international cash flows can be seen by historical price trends. Thus, our methodology involves the study of the relationship of the British Pound and the U.S. Dollar (USD) in terms of the past currency behavior.

The research question is: Can data-driven decision making create competitive edge for foreign currency traders?

Methodology

We used historical data from the website Exchange Rates.org.uk to answer our research question and prove the hypothesis. The significance of the research question and in obtaining a clear forecast of the exchange rate between the British Pound (GBP) and the U.S. Dollar (USD) is that this can help international traders assess benefits, risks and other challenges in international trade. Currency forecasts seem not normal because they include expected mistakes (Frankel & Froot, 1987 as cited in Chang & Osler, 1999).

This report used Technical Analysis (TA) to find out some price patterns, such as price repetitions in the past. The short-range moving average (SRMA), a model of Technical Analysis (TA) uses 30 days of information, while the short-range moving average (LRMA) uses 180 days of information.

Technical analysis (TA)

Technical analysis is effective because of the way orders are clustered. There is what analysts say ‘a concentration of demand … and supply’ (Osler, 2003, p. 1792), which can guide the trader. Order clustering in currency markets is about ‘stop-loss and take-profit orders’ (Osler, 2003, p. 1792), which refers to buy or sell currencies. A ‘stop-loss (take profit) buy order’ leads to purchase of currency if the market rate rises or falls to a particular level. For instance, when an agent places an order, say for example in a dealing bank, the orders cluster strongly at round numbers. Round numbers end in 00 or.50. Orders cluster at round numbers because large orders ‘benefit from precise pricing’ and have to be placed at round numbers rather than small orders. Agents tend to place orders at round numbers to reduce time and mistakes in their dealings with dealers (Grossman et al., 1997 as cited in Osler, 2003, p. 1793). Behavioral reason is another reason cause (Yule, 1927 as cited in Osler, 2003). Stop-loss orders tend to cluster strongly, and these clusters cannot be simply predicted because information about orders is unknown. Stop-loss orders also contribute to large, quick, price moves, also known as ‘price cascades’ (Osler, 2003, p. 1794). But even if information is lacking, agents can refer their research at past trends, in which sell and buy orders are in cluster. There are examples of these trends in the accompanying data.

The null hypothesis that currency traders use gut feeling to forecast exchange rate is hereby rejected because agents use historical data before they place their orders. Without these data they may use gut feeling, but in the stock market there are many who provide or sell data and information about trends in the market which can influence the buying and selling of currencies, such as the GBP and the USD.

The variables

Nominal values

The variables or data are shown in the appendix, which provide the 180-day information, retrieved from ExchangeRates.org.uk. Each of these values are called nominal values; meaning all of them are nominal because they provide the value of exchange rate of GBP and USD for the given period. ‘Nominal’ is like a name and in this instance, it refers to a name of the variable or the data itself.

The variables were collected and measured by researchers from the website, according to the current exchange rate in the stock market and based on the law of supply and demand. An example of the nominal value of exchange rate for September 30 is provided in the website ExchangeRates.org.uk, which is 1.6215 USD for every 1 GBP. The data collected on 30 September 2014 showed a nominal value of 5 GBP, equivalent to 8.1075 USD. All the others are also called nominal values.

Ordinal values

In the list of values or variables for the 180-day information listed in the website, i.e. from 23 June 2014 to 30 September 2014, the minimum is 1.6095 and the maximum is 1.7161. The ordinal data lists the variables, not in order. But the site has shown the 180-day information for simplification. When these data are reached, the signal is for the agent to sell or buy (ExchangeRates.org.uk, 2014).

Interval values

The interval data provided by the website for the 180-day information (2 April to 30 September 2014) reveals a pattern of intervals, i.e. for every 6-day interval, there is a repetition of the values, or a difference of zero. For example, from 28 June to 4 July, the exchange rate of 1 GBP = 1.716 is repeated in 5 Jul, or a difference of 0 for 5 and 6 July. Six days after, 11 Jul 2014, the value of 1.7107 is repeated, or there is a 0 difference between 11 July and 12 July. The interval of six days and a repetition of that value when the sixth day occurs is a pattern that can be drawn from the 180-day information for the GBP-USD exchange rate. The mean and standard deviation for the six-day data can be calculated here.

Take-profit orders cluster at round numbers ending in 00. No such round numbers occur in the 180-day information. Exchange rates would tend to rise in answer to predominance of buy orders or take orders (Evans & Lyons, 1999; Rime, 2000; Evans, 2001 as cited in Osler, 2003).

Conclusion

Drawing from the theory discussed above, the 180-day information (in the appendix) creates six-day clusters of the various data from the website. This signals the agent to buy or sell. Traders use this signal because it creates a trend. In the context of products and services, the signal refers to the demand and supply. Naturally, if there is big demand, the seller sells at higher price. If there is less demand, it can be interpreted as there is no signal. Currency traders may interpret this as gut feeling, but again there is no evidence for the so-called gut feeling. What they usually examine is the preponderance of data provided by the website, or any other organization providing currency data.

The first hypothesis that foreign currency traders who use data for decision-making are likely to gain competitive edge in foreign exchange is proven in the statistical analysis. The TA provided for clustering as a means of helping the agent in analyzing the stop-loss and take-profit orders. However, the null hypothesis that foreign currency traders can also use gut feeling is hereby rejected. There is no empirical evidence to substantiate the null hypothesis. The research question was also addressed in the discussion, i.e. data-driven decision making creates competitive edge for foreign currency traders.

References

Chang, P. & Osler, C. (1999). Methodical madness: Technical analysis and the irrationality of exchange-rate forecasts. The Economic Journal, 109(458), 636-661.

(2014). Web.

Osler, C. (2003). Currency orders and exchange rate dynamics: An explanation for the predictive success of technical analysis. The Journal of Finance, 58(5), 1791-1819.

Appendix

Source: ExchangeRates.org.uk(2014)

Table of 1 British Pound to US Dollar Exchange Rate: Updated: 01/10/14 12:16
Date British Pound to US Dollar Link
Tuesday 30 September 2014 1 GBP = 1.6215 USD GBP USD rate for 30/09/2014
Monday 29 September 2014 1 GBP = 1.6243 USD GBP USD rate for 29/09/2014
Sunday 28 September 2014 1 GBP = 1.6235 USD GBP USD rate for 28/09/2014
Saturday 27 September 2014 1 GBP = 1.6249 USD GBP USD rate for 27/09/2014
Friday 26 September 2014 1 GBP = 1.6249 USD GBP USD rate for 26/09/2014
Thursday 25 September 2014 1 GBP = 1.6325 USD GBP USD rate for 25/09/2014
Wednesday 24 September 2014 1 GBP = 1.6331 USD GBP USD rate for 24/09/2014
Tuesday 23 September 2014 1 GBP = 1.6391 USD GBP USD rate for 23/09/2014
Monday 22 September 2014 1 GBP = 1.6365 USD GBP USD rate for 22/09/2014
Sunday 21 September 2014 1 GBP = 1.631 USD GBP USD rate for 21/09/2014
Saturday 20 September 2014 1 GBP = 1.6288 USD GBP USD rate for 20/09/2014
Friday 19 September 2014 1 GBP = 1.6288 USD GBP USD rate for 19/09/2014
Thursday 18 September 2014 1 GBP = 1.6435 USD GBP USD rate for 18/09/2014
Thursday 18 September 2014 1 GBP = 1.6435 USD GBP USD rate for 18/09/2014
Wednesday 17 September 2014 1 GBP = 1.625 USD GBP USD rate for 17/09/2014
Tuesday 16 September 2014 1 GBP = 1.6251 USD GBP USD rate for 16/09/2014
Monday 15 September 2014 1 GBP = 1.623 USD GBP USD rate for 15/09/2014
Sunday 14 September 2014 1 GBP = 1.626 USD GBP USD rate for 14/09/2014
Saturday 13 September 2014 1 GBP = 1.6274 USD GBP USD rate for 13/09/2014
Friday 12 September 2014 1 GBP = 1.6274 USD GBP USD rate for 12/09/2014
Thursday 11 September 2014 1 GBP = 1.6255 USD GBP USD rate for 11/09/2014
Wednesday 10 September 2014 1 GBP = 1.6209 USD GBP USD rate for 10/09/2014
Tuesday 9 September 2014 1 GBP = 1.6107 USD GBP USD rate for 09/09/2014
Monday 8 September 2014 1 GBP = 1.6095 USD GBP USD rate for 08/09/2014
Sunday 7 September 2014 1 GBP = 1.6219 USD GBP USD rate for 07/09/2014
Saturday 6 September 2014 1 GBP = 1.6326 USD GBP USD rate for 06/09/2014
Friday 5 September 2014 1 GBP = 1.6326 USD GBP USD rate for 05/09/2014
Thursday 4 September 2014 1 GBP = 1.632 USD GBP USD rate for 04/09/2014
Wednesday 3 September 2014 1 GBP = 1.6463 USD GBP USD rate for 03/09/2014
Tuesday 2 September 2014 1 GBP = 1.6473 USD GBP USD rate for 02/09/2014
Monday 1 September 2014 1 GBP = 1.6612 USD GBP USD rate for 01/09/2014
Sunday 31 August 2014 1 GBP = 1.659 USD GBP USD rate for 31/08/2014
Saturday 30 August 2014 1 GBP = 1.6598 USD GBP USD rate for 30/08/2014
Friday 29 August 2014 1 GBP = 1.6598 USD GBP USD rate for 29/08/2014
Thursday 28 August 2014 1 GBP = 1.6585 USD GBP USD rate for 28/08/2014
Wednesday 27 August 2014 1 GBP = 1.6575 USD GBP USD rate for 27/08/2014
Tuesday 26 August 2014 1 GBP = 1.6546 USD GBP USD rate for 26/08/2014
Monday 25 August 2014 1 GBP = 1.6568 USD GBP USD rate for 25/08/2014
Sunday 24 August 2014 1 GBP = 1.6541 USD GBP USD rate for 24/08/2014
Saturday 23 August 2014 1 GBP = 1.6568 USD GBP USD rate for 23/08/2014
Friday 22 August 2014 1 GBP = 1.6568 USD GBP USD rate for 22/08/2014
Thursday 21 August 2014 1 GBP = 1.6579 USD GBP USD rate for 21/08/2014
Wednesday 20 August 2014 1 GBP = 1.6598 USD GBP USD rate for 20/08/2014
Tuesday 19 August 2014 1 GBP = 1.6618 USD GBP USD rate for 19/08/2014
Monday 18 August 2014 1 GBP = 1.6723 USD GBP USD rate for 18/08/2014
Sunday 17 August 2014 1 GBP = 1.6716 USD GBP USD rate for 17/08/2014
Saturday 16 August 2014 1 GBP = 1.6691 USD GBP USD rate for 16/08/2014
Friday 15 August 2014 1 GBP = 1.6691 USD GBP USD rate for 15/08/2014
Thursday 14 August 2014 1 GBP = 1.6685 USD GBP USD rate for 14/08/2014
Wednesday 13 August 2014 1 GBP = 1.6691 USD GBP USD rate for 13/08/2014
Tuesday 12 August 2014 1 GBP = 1.681 USD GBP USD rate for 12/08/2014
Monday 11 August 2014 1 GBP = 1.6787 USD GBP USD rate for 11/08/2014
Sunday 10 August 2014 1 GBP = 1.6777 USD GBP USD rate for 10/08/2014
Saturday 9 August 2014 1 GBP = 1.6772 USD GBP USD rate for 09/08/2014
Friday 8 August 2014 1 GBP = 1.6772 USD GBP USD rate for 08/08/2014
Thursday 7 August 2014 1 GBP = 1.6832 USD GBP USD rate for 07/08/2014
Wednesday 6 August 2014 1 GBP = 1.6853 USD GBP USD rate for 06/08/2014
Tuesday 5 August 2014 1 GBP = 1.6881 USD GBP USD rate for 05/08/2014
Monday 4 August 2014 1 GBP = 1.6862 USD GBP USD rate for 04/08/2014
Sunday 3 August 2014 1 GBP = 1.6818 USD GBP USD rate for 03/08/2014
Saturday 2 August 2014 1 GBP = 1.6822 USD GBP USD rate for 02/08/2014
Friday 1 August 2014 1 GBP = 1.6822 USD GBP USD rate for 01/08/2014
Thursday 31 July 2014 1 GBP = 1.6886 USD GBP USD rate for 31/07/2014
Wednesday 30 July 2014 1 GBP = 1.691 USD GBP USD rate for 30/07/2014
Tuesday 29 July 2014 1 GBP = 1.6946 USD GBP USD rate for 29/07/2014
Monday 28 July 2014 1 GBP = 1.6982 USD GBP USD rate for 28/07/2014
Sunday 27 July 2014 1 GBP = 1.698 USD GBP USD rate for 27/07/2014
Saturday 26 July 2014 1 GBP = 1.6975 USD GBP USD rate for 26/07/2014
Friday 25 July 2014 1 GBP = 1.6975 USD GBP USD rate for 25/07/2014
Thursday 24 July 2014 1 GBP = 1.6987 USD GBP USD rate for 24/07/2014
Wednesday 23 July 2014 1 GBP = 1.7035 USD GBP USD rate for 23/07/2014
Tuesday 22 July 2014 1 GBP = 1.7067 USD GBP USD rate for 22/07/2014
Monday 21 July 2014 1 GBP = 1.7074 USD GBP USD rate for 21/07/2014
Sunday 20 July 2014 1 GBP = 1.7089 USD GBP USD rate for 20/07/2014
Saturday 19 July 2014 1 GBP = 1.7086 USD GBP USD rate for 19/07/2014
Friday 18 July 2014 1 GBP = 1.7086 USD GBP USD rate for 18/07/2014
Thursday 17 July 2014 1 GBP = 1.7096 USD GBP USD rate for 17/07/2014
Wednesday 16 July 2014 1 GBP = 1.714 USD GBP USD rate for 16/07/2014
Tuesday 15 July 2014 1 GBP = 1.7141 USD GBP USD rate for 15/07/2014
Monday 14 July 2014 1 GBP = 1.7089 USD GBP USD rate for 14/07/2014
Sunday 13 July 2014 1 GBP = 1.7121 USD GBP USD rate for 13/07/2014
Saturday 12 July 2014 1 GBP = 1.7107 USD GBP USD rate for 12/07/2014
Friday 11 July 2014 1 GBP = 1.7107 USD GBP USD rate for 11/07/2014
Thursday 10 July 2014 1 GBP = 1.7129 USD GBP USD rate for 10/07/2014
Wednesday 9 July 2014 1 GBP = 1.7155 USD GBP USD rate for 09/07/2014
Tuesday 8 July 2014 1 GBP = 1.713 USD GBP USD rate for 08/07/2014
Monday 7 July 2014 1 GBP = 1.7134 USD GBP USD rate for 07/07/2014
Sunday 6 July 2014 1 GBP = 1.7155 USD GBP USD rate for 06/07/2014
Saturday 5 July 2014 1 GBP = 1.716 USD GBP USD rate for 05/07/2014
Friday 4 July 2014 1 GBP = 1.716 USD GBP USD rate for 04/07/2014
Thursday 3 July 2014 1 GBP = 1.7153 USD GBP USD rate for 03/07/2014
Wednesday 2 July 2014 1 GBP = 1.7161 USD GBP USD rate for 02/07/2014
Tuesday 1 July 2014 1 GBP = 1.7149 USD GBP USD rate for 01/07/2014
Monday 30 June 2014 1 GBP = 1.7103 USD GBP USD rate for 30/06/2014
Sunday 29 June 2014 1 GBP = 1.7036 USD GBP USD rate for 29/06/2014
Saturday 28 June 2014 1 GBP = 1.7038 USD GBP USD rate for 28/06/2014
Friday 27 June 2014 1 GBP = 1.7038 USD GBP USD rate for 27/06/2014
Thursday 26 June 2014 1 GBP = 1.7028 USD GBP USD rate for 26/06/2014
Wednesday 25 June 2014 1 GBP = 1.6986 USD GBP USD rate for 25/06/2014
Tuesday 24 June 2014 1 GBP = 1.6985 USD GBP USD rate for 24/06/2014
Monday 23 June 2014 1 GBP = 1.703 USD GBP USD rate for 23/06/2014
Sunday 22 June 2014 1 GBP = 1.7019 USD GBP USD rate for 22/06/2014
Saturday 21 June 2014 1 GBP = 1.7015 USD GBP USD rate for 21/06/2014
Friday 20 June 2014 1 GBP = 1.7015 USD GBP USD rate for 20/06/2014
Thursday 19 June 2014 1 GBP = 1.7039 USD GBP USD rate for 19/06/2014
Wednesday 18 June 2014 1 GBP = 1.6989 USD GBP USD rate for 18/06/2014
Tuesday 17 June 2014 1 GBP = 1.696 USD GBP USD rate for 17/06/2014
Monday 16 June 2014 1 GBP = 1.6978 USD GBP USD rate for 16/06/2014
Sunday 15 June 2014 1 GBP = 1.6975 USD GBP USD rate for 15/06/2014
Saturday 14 June 2014 1 GBP = 1.697 USD GBP USD rate for 14/06/2014
Friday 13 June 2014 1 GBP = 1.697 USD GBP USD rate for 13/06/2014
Thursday 12 June 2014 1 GBP = 1.6932 USD GBP USD rate for 12/06/2014
Wednesday 11 June 2014 1 GBP = 1.679 USD GBP USD rate for 11/06/2014
Tuesday 10 June 2014 1 GBP = 1.6754 USD GBP USD rate for 10/06/2014
Monday 9 June 2014 1 GBP = 1.6803 USD GBP USD rate for 09/06/2014
Sunday 8 June 2014 1 GBP = 1.6805 USD GBP USD rate for 08/06/2014
Saturday 7 June 2014 1 GBP = 1.6804 USD GBP USD rate for 07/06/2014
Friday 6 June 2014 1 GBP = 1.6804 USD GBP USD rate for 06/06/2014
Thursday 5 June 2014 1 GBP = 1.681 USD GBP USD rate for 05/06/2014
Wednesday 4 June 2014 1 GBP = 1.6738 USD GBP USD rate for 04/06/2014
Tuesday 3 June 2014 1 GBP = 1.6746 USD GBP USD rate for 03/06/2014
Monday 2 June 2014 1 GBP = 1.6746 USD GBP USD rate for 02/06/2014
Sunday 1 June 2014 1 GBP = 1.6753 USD GBP USD rate for 01/06/2014
Saturday 31 May 2014 1 GBP = 1.6756 USD GBP USD rate for 31/05/2014
Friday 30 May 2014 1 GBP = 1.6756 USD GBP USD rate for 30/05/2014
Thursday 29 May 2014 1 GBP = 1.6722 USD GBP USD rate for 29/05/2014
Wednesday 28 May 2014 1 GBP = 1.6715 USD GBP USD rate for 28/05/2014
Tuesday 27 May 2014 1 GBP = 1.6812 USD GBP USD rate for 27/05/2014
Monday 26 May 2014 1 GBP = 1.6841 USD GBP USD rate for 26/05/2014
Sunday 25 May 2014 1 GBP = 1.6835 USD GBP USD rate for 25/05/2014
Saturday 24 May 2014 1 GBP = 1.683 USD GBP USD rate for 24/05/2014
Friday 23 May 2014 1 GBP = 1.683 USD GBP USD rate for 23/05/2014
Thursday 22 May 2014 1 GBP = 1.6867 USD GBP USD rate for 22/05/2014
Wednesday 21 May 2014 1 GBP = 1.6899 USD GBP USD rate for 21/05/2014
Tuesday 20 May 2014 1 GBP = 1.6837 USD GBP USD rate for 20/05/2014
Monday 19 May 2014 1 GBP = 1.6813 USD GBP USD rate for 19/05/2014
Sunday 18 May 2014 1 GBP = 1.6824 USD GBP USD rate for 18/05/2014
Saturday 17 May 2014 1 GBP = 1.6813 USD GBP USD rate for 17/05/2014
Friday 16 May 2014 1 GBP = 1.6813 USD GBP USD rate for 16/05/2014
Thursday 15 May 2014 1 GBP = 1.6793 USD GBP USD rate for 15/05/2014
Wednesday 14 May 2014 1 GBP = 1.6768 USD GBP USD rate for 14/05/2014
Tuesday 13 May 2014 1 GBP = 1.6829 USD GBP USD rate for 13/05/2014
Monday 12 May 2014 1 GBP = 1.6871 USD GBP USD rate for 12/05/2014
Sunday 11 May 2014 1 GBP = 1.6859 USD GBP USD rate for 11/05/2014
Saturday 10 May 2014 1 GBP = 1.6849 USD GBP USD rate for 10/05/2014
Friday 9 May 2014 1 GBP = 1.6849 USD GBP USD rate for 09/05/2014
Thursday 8 May 2014 1 GBP = 1.6934 USD GBP USD rate for 08/05/2014
Wednesday 7 May 2014 1 GBP = 1.6956 USD GBP USD rate for 07/05/2014
Tuesday 6 May 2014 1 GBP = 1.6974 USD GBP USD rate for 06/05/2014
Monday 5 May 2014 1 GBP = 1.6868 USD GBP USD rate for 05/05/2014
Sunday 4 May 2014 1 GBP = 1.6877 USD GBP USD rate for 04/05/2014
Saturday 3 May 2014 1 GBP = 1.6875 USD GBP USD rate for 03/05/2014
Friday 2 May 2014 1 GBP = 1.6875 USD GBP USD rate for 02/05/2014
Thursday 1 May 2014 1 GBP = 1.6891 USD GBP USD rate for 01/05/2014
Wednesday 30 April 2014 1 GBP = 1.6875 USD GBP USD rate for 30/04/2014
Tuesday 29 April 2014 1 GBP = 1.6824 USD GBP USD rate for 29/04/2014
Monday 28 April 2014 1 GBP = 1.681 USD GBP USD rate for 28/04/2014
Sunday 27 April 2014 1 GBP = 1.6799 USD GBP USD rate for 27/04/2014
Saturday 26 April 2014 1 GBP = 1.6801 USD GBP USD rate for 26/04/2014
Friday 25 April 2014 1 GBP = 1.6801 USD GBP USD rate for 25/04/2014
Thursday 24 April 2014 1 GBP = 1.6804 USD GBP USD rate for 24/04/2014
Wednesday 23 April 2014 1 GBP = 1.6779 USD GBP USD rate for 23/04/2014
Tuesday 22 April 2014 1 GBP = 1.6825 USD GBP USD rate for 22/04/2014
Monday 21 April 2014 1 GBP = 1.6791 USD GBP USD rate for 21/04/2014
Sunday 20 April 2014 1 GBP = 1.6796 USD GBP USD rate for 20/04/2014
Saturday 19 April 2014 1 GBP = 1.6794 USD GBP USD rate for 19/04/2014
Friday 18 April 2014 1 GBP = 1.6794 USD GBP USD rate for 18/04/2014
Thursday 17 April 2014 1 GBP = 1.6791 USD GBP USD rate for 17/04/2014
Wednesday 16 April 2014 1 GBP = 1.6799 USD GBP USD rate for 16/04/2014
Tuesday 15 April 2014 1 GBP = 1.6727 USD GBP USD rate for 15/04/2014
Monday 14 April 2014 1 GBP = 1.6727 USD GBP USD rate for 14/04/2014
Sunday 13 April 2014 1 GBP = 1.6734 USD GBP USD rate for 13/04/2014
Saturday 12 April 2014 1 GBP = 1.6732 USD GBP USD rate for 12/04/2014
Friday 11 April 2014 1 GBP = 1.6732 USD GBP USD rate for 11/04/2014
Thursday 10 April 2014 1 GBP = 1.678 USD GBP USD rate for 10/04/2014
Wednesday 9 April 2014 1 GBP = 1.6793 USD GBP USD rate for 09/04/2014
Tuesday 8 April 2014 1 GBP = 1.6748 USD GBP USD rate for 08/04/2014
Monday 7 April 2014 1 GBP = 1.661 USD GBP USD rate for 07/04/2014
Sunday 6 April 2014 1 GBP = 1.6579 USD GBP USD rate for 06/04/2014
Saturday 5 April 2014 1 GBP = 1.6577 USD GBP USD rate for 05/04/2014
Minimum:1.6095 USD, Maximum:1.7161 USD, Average:1.6765 USD
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IvyPanda. (2020, May 15). British Pound and U.S. Dollar Exchange Rates. Retrieved from https://ivypanda.com/essays/british-pound-and-us-dollar-exchange-rates/

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"British Pound and U.S. Dollar Exchange Rates." IvyPanda, 15 May 2020, ivypanda.com/essays/british-pound-and-us-dollar-exchange-rates/.

1. IvyPanda. "British Pound and U.S. Dollar Exchange Rates." May 15, 2020. https://ivypanda.com/essays/british-pound-and-us-dollar-exchange-rates/.


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IvyPanda. "British Pound and U.S. Dollar Exchange Rates." May 15, 2020. https://ivypanda.com/essays/british-pound-and-us-dollar-exchange-rates/.

References

IvyPanda. 2020. "British Pound and U.S. Dollar Exchange Rates." May 15, 2020. https://ivypanda.com/essays/british-pound-and-us-dollar-exchange-rates/.

References

IvyPanda. (2020) 'British Pound and U.S. Dollar Exchange Rates'. 15 May.

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