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Currency News: UK daily forex news and forecasts

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GBP to ZAR Exchange Rate Slips back from Weekly Highs

28 Apr 2017 at 2 PM - Written by John Cameron

After advancing for most of the week last week, the British Pound to South African Rand exchange rate slipped from its highs on Friday as the latest UK growth data was highly disappointing and painted a mixed outlook for Britain’s economy in 2017. GBP/ZAR began the week trending at the level of 16.8153. The pair surged in the latter half of the week and reached a two-week-high of 17.2664 on Friday. GBP/ZAR spent most of...

CATEGORIES: Currency Predictions Daily Currency Updates Pound Rand Forecasts

GBP USD Exchange Rate Trades at 7-Month High despite Slowing UK Growth

28 Apr 2017 at 2 PM - Written by Frank Davies

With UK GDP failing to support Sterling, the UK currency has instead risen on a Bank of America Merill Lynch (BAML) forecast upgrade. This has pushed the Pound to 1.29 against the US Dollar. In a note to clients, BAML Currency Analyst Kamal Sharma said; ‘The announcement of a June 8th general election was a game-changing event for Sterling. Sterling will face Brexit challenges but its day of reckoning has been pushed...

CATEGORIES: Currency Predictions Daily Currency Updates Pound Dollar Forecasts

GBP CAD Exchange Rate Forecast to Come Under Pressure from UK and Canadian GDP

27 Apr 2017 at 12 PM - Written by John Cameron

The Pound Canadian Dollar exchange rate has seen significant volatility so far this week as political developments in the US fuelled some sharp market movements. Demand for the ‘Loonie’ plunged in response to news that the US would be imposing tariffs on softwood lumber, with markets speculating that a similar move against dairy exports could be in the works. This unexpected move naturally soured relations between the US...

CATEGORIES: Canadian Dollar Forecasts

GBP INR Exchange Rate Fluctuates Ahead of UK Growth Report

27 Apr 2017 at 11 AM - Written by James Fuller

The Pound Indian Rupee (GBP INR) exchange rate continues to fluctuate this week ahead of the release of the UK’s Q1 GDP figures tomorrow. Economists expect that the UK’s economic growth is likely to have fallen at the start of 2017 as the consequences of Brexit finally begin to catch up, leading GDP to fall from 0.7% to 0.4% in the first quarter. Analysts attributed the slowdown to the decline of Sterling and subsequent...

CATEGORIES: Currency Predictions Pound Rupee Forecasts

GBP to NZD Exchange Rate Surges to New 2017 Highs

26 Apr 2017 at 2 PM - Written by David Woodsmith

An increase in risk-sentiment at the beginning of this week didn’t last long, as news from the US and underwhelming commodity trade made markets quickly risk-averse again. As a result, the Pound to New Zealand Dollar exchange rate has easily advanced. GBP/NZD began this week trading at the level of 1.82. On Tuesday the pair soared and by Wednesday’s European session it had reached a high of 1.85 – its best levels since...

CATEGORIES: Currency Predictions Pound New Zealand Dollar Forecasts

GBP EUR Exchange Rate Rallies from Worse Levels Amid Euro Profit Taking

26 Apr 2017 at 2 PM - Written by Frank Davies

The Pound Euro (GBP EUR) exchange rate began to trend higher this morning as investors moved to consolidate their recent gains. The Euro’s advance was halted this morning as markets saw an opportunity for profit taking, following the single currency’s rally after the result of first round voting in the French Presidential elections. Markets were buoyed as centrist Emmanuel Macron progressed to the second round where he...

CATEGORIES: Daily Currency Updates Pound Euro Forecasts

Can USD JPY Exchange Rate Maintain Bullish Trend on Trump Tax Cut Push?

25 Apr 2017 at 5 PM - Written by John Cameron

News that Donald Trump is aiming to cut corporate tax from 35% to 15% in his much-anticipated tax reform package prompted the US Dollar Japanese Yen (USD JPY) exchange rate to strengthen. Markets were encouraged by the prospect of hard plans, even though such a cut would leave a significant hole in the US budget and could face opposition in Congress. Although April’s consumer confidence index weakened further than forecast...

CATEGORIES: Daily Currency Updates Japanese Yen Forecasts

GBP to INR Exchange Rate Drops on Defiantly Strong Rupee

25 Apr 2017 at 11 AM - Written by Frank Davies

Despite market optimism towards the upcoming UK election, the British Pound has been unable to hold its ground against the Indian Rupee this week. Demand for the Rupee jumped on Monday in an emerging market rally and has remained strong. GBP/INR opened the week at the level of 82.83. After briefly striking 83.16, its best level since February, GBP/INR fell and at the time of writing trends close to the level of 82.35. Demand...

CATEGORIES: Pound Rupee Forecasts

Record Low UK Deficit Triggers GBP CAD Advance

25 Apr 2017 at 10 AM - Written by Ben Hughes

Sterling’s rise against the Canadian Dollar today has partly come from UK borrowing data, which has shown the annual deficit fall to the lowest since the 2007-08 financial crisis. Monthly data has been less positive, with March’s deficit hitting -5.1bn instead of the forecast -3bn. Canadian economic anxiety has also aided the GBP CAD rise, with falling Canadian sales lowering trader confidence in the...

CATEGORIES: Pound Canadian Dollar Forecasts

Can GBP AUD Exchange Rate Weaken Further on Rising Australian Inflation?

24 Apr 2017 at 3 PM - Written by Toni Johnson

Risk appetite generally picked up at the start of the week, weighing down the Pound Australian Dollar exchange rate as markets reacted to the results of the first round of the French presidential election with relief. As the odds of a fresh populist upset and victory for Eurosceptic Marine Le Pen were seen to decline investors piled back into higher-yielding assets, including the Australian Dollar. Confidence in the Pound,...

CATEGORIES: Australian Dollar Forecasts Daily Currency Updates